Investors Are Dipping Their Toes Into Commodities Again After Months of Outflows
Investors are finally showing signs of losing their antipathy toward commodities.
Bloomberg Business
Libor Zombies Pit Hedge Funds Against Banks in High-Stakes Feud
One of the most lucrative, and contentious, trades of 2023 has emerged in an obscure corner of financial markets, minting overnight profits for the hedge fund crowd of as much as 35%.
Ukraine Recap: Prigozhin Presumed Dead; Kyiv Cites Advances
Wagner mercenary group founder Yevgeny Prigozhin is presumed to have been killed in a plane crash Wednesday two months after he led a failed mutiny against Vladimir Putin’s military establishment. Ukraine meanwhile cited progress on the battlefield.
Putin Shores Up Power Base After Prigozhin Plane Crash in Russia
The plane crash that presumably killed Wagner founder Yevgeny Prigozhin restored Vladimir Putin’s reputation as Russia’s unchallengeable leader for many of the country’s elite, even as the cause of the disaster may never be fully established.
Rolls-Royce’s New Profit Mantra Hampers Airbus Sales Campaigns
The focus on profit over market share at Rolls-Royce Holdings Plc has won new Chief Executive Officer Tufan Erginbilgic plaudits from investors, who have lifted the manufacturer to the best-performing major UK stock this year.
Indonesia Swaps Reverse Repo, Operation Twist for New Securities
Bank Indonesia is issuing new rupiah securities to replace its existing reverse repurchase facility and “Operation Twist” bond sales to provide a more powerful tool for luring foreign funds, according to Governor Perry Warjiyo.
Odey Vacates Mayfair Headquarters as Hedge Fund Disintegrates
Odey Asset Management has vacated its long-time London headquarters as the investment firm enters final stages of a forced revamp in the aftermath of sexual assault allegations against founder Crispin Odey.
Trafigura Metal Executive Grenfell Exits as Unit Pressure Grows
Trafigura Group’s head of metals business development is leaving, the latest sign of the pressure facing the commodity trader’s metals unit even as the company as a whole notches up record profits.
China Bans Japanese Seafood as Nuclear Wastewater Released
Japan started the release of treated wastewater from the Fukushima nuclear site into the Pacific Ocean in a process that could last about 30 years, triggering an immediate retaliation by China to curb seafood imports.
HSBC Hires Evercore’s Hong to Lead Singapore Dealmaking Coverage
HSBC Holdings Plc has hired Alex Hong from Evercore Inc. to lead the bank’s dealmaking efforts in Singapore.