Posts by Yurie Miyazawa
Blackstone sells second commercial mortgage bond to fund buyout
BLACKSTONE is selling US$1.05 billion of commercial mortgage bonds to help pay for a deal it struck in April to acquire AIR Communities, an apartment landlord. The debt consists of six tranches of securities, with ratings ranging from AAA to BB-, according to sources familiar with the matter. An interest-only loan backing the commercial mortgage-backed…
Read MoreGold prices steady with focus on US inflation data
GOLD prices were steady on Wednesday (Sep 11), as investors awaited upcoming key US inflation data for hints on the depth of interest rate cuts expected from the Federal Reserve next week. Spot gold edged 0.1 per cent to US$2,517.80 per ounce, as at 0021 GMT. US gold futures rose 0.1 per cent to US$2,546.50 …
Read MoreUS airlines may soon face cash penalties for delayed flights
IF YOU have flown domestic in the United States in the last four years, you have likely faced at least one or two flight delays or cancellations-or worse, complete system outages-and found yourself footing the bill, without recourse from the airlines. But there’s potential relief on the horizon: The Biden Administration is working full steam…
Read MoreProperty website Rightmove rejects £5.6 billion Murdoch bid
UK ONLINE property website Rightmove said on Wednesday (Sep 11) that it had rejected a multi-billion-pound takeover proposal from Australian peer REA Group, majority owned by Rupert Murdoch’s News Corp empire. Rightmove said in a statement that the cash and shares bid, worth £5.6 billion (S$9.5 billion), “was wholly opportunistic and fundamentally undervalued” the company.…
Read MoreBMW brake recall and VW job threat deepen German industry crisis
GERMAN carmakers are sinking deeper into a crisis undermining the future of the country’s most important industry, with BMW warning that profits will get hit by a costly brake problem and Volkswagen (VW) scrapping job protections that workers have enjoyed for three decades. BMW shares plunged after the company disclosed the spiralling cost of a…
Read MoreOil settles near 3-year low on weak demand outlook
GLOBAL oil benchmark Brent crude futures settled at their lowest level since December 2021 on Tuesday, after Opec+ revised down its demand forecast for this year and 2025, offsetting supply concerns from Tropical Storm Francine. Brent crude futures settled down US$2.65, or 3.69 per cent, at US$69.19 a barrel. US West Texas Intermediate (WTI) crude settled down…
Read MoreUBS has AI tool that can scan 300,000 firms in 20 seconds
The tool also identifies potential targets of activist campaigns by comparing the management tone of prepared presentations and Q&A situations UBS Group has developed an artificial intelligence tool to help it offer clients potential M&A deals, able to analyse a database of over 300,000 companies in less than half a minute. The Swiss bank built…
Read MoreFed to cut big banks’ capital hike in half in sweeping overhaul
US regulators will make sweeping changes to their bank-capital rules proposal, cutting the expected impact to the biggest banks by half and exempting smaller lenders from large portions of the measure, a top Federal Reserve official said. The proposed revisions to be previewed by Fed Vice Chair for Supervision Michael Barr in a speech on…
Read MoreDollar edges down before US inflation data, presidential debate
The dollar edged down on Tuesday (Sep 10) before US inflation data and the televised US presidential debate on Wednesday, which could affect expectations for the interest rate outlook. A mixed labour report on Friday failed to make a clear-cut case for whether the Federal Reserve would deliver a regular 25 basis point (bps) rate…
Read MoreChina proposes negotiations with EU to resolve EV tariff dispute
CHINA has renewed its offer for talks with the European Commission to address economic and trade frictions to try to ease impending punitive tariffs on China-made electric vehicles. During a meeting with the European Commission’s director general for trade in Brussels on Monday (Sep 9), Vice Commerce Minister Li Fei said China was willing to…
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