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☆ Oil prices ease, U.S. crude stock build fuels demand fears
▼ + stars: | 2024-02-29 | by ( ) www.cnbc.com time to read: +2 min

Oil prices eased early on Thursday after a larger-than-expected build in U.S. crude stockpiles stoked worries about slow demand, while signs that U.S. interest rates could remain elevated for longer also added to pressure. Oil prices eased early on Thursday after a larger-than-expected build in U.S. crude stockpiles stoked worries about slow demand, while signs that U.S. interest rates could remain elevated for longer also added to pressure. "The anticipation of delayed U.S. rate cuts also weighed on the market sentiment as it could undermine oil demand," he said. Traders have already dialed back expectations for U.S. interest rate cuts after a slew of strong data, including hot consumer price index and producer price index readings. Still, the conflict in the Middle East is expected to keep a floor under oil prices, Rakuten's Yoshida said.

Persons: refiners, Satoru Yoshida, Rakuten's Yoshida, Jerusalem's Al, Joe Biden Organizations: Brent, . West Texas, Energy Information Administration, EIA, Rakuten Securities, Traders, U.S, Hamas Locations: U.S, Aqsa, Gaza, Israel

☆ Rakuten Group's losses, debt burden and financing efforts
▼ + stars: | 2023-11-29 | by ( Anton Bridge | ) www.reuters.com time to read: +2 min

Here are some details about its deeply troubled mobile business, the group's operating losses, debt burden and its efforts to shore up its finances. It had 351 billion yen ($2.4 billion) in annual sales last year and accounts for 18% of Rakuten's overall revenue. Rakuten Group currently has total debt of more than 1.5 trillion yen, of which 800 billion yen is due to be redeemed by the end of 2025. Nov 2022 - sells 19.99% of Rakuten Securities to Mizuho Securities for 80 billion yen. Nov 2023 - sells a further 29% of Rakuten Securities to Mizuho Securities for 87 billion yen.

Persons: Miho Uranaka, Rakuten, Hiroshi, Mickey, Mikitani, Anton Bridge, Edwina Gibbs Organizations: REUTERS, Rights, Rakuten, Reuters Graphics Reuters, Reuters Graphics, Japan Post Holdings, HK, Walmart, Rakuten Securities, Mizuho Securities, Rakuten Bank, Thomson Locations: Yokohama, Kanagawa, Japan, Japanese

☆ Rakuten's mobile misadventure: from ambitious plan to millstone
▼ + stars: | 2023-11-29 | by ( Anton Bridge | ) www.reuters.com time to read: +5 min

By any measure, cash-bleeding Rakuten Mobile is deeply troubled. Rakuten is set for another tough year in 2024 with investors keen to see if it can achieve its goal of having the mobile unit break even. Those steps have raised some 800 billion yen ($5.4 billion). Then in October, SoftBank Corp (9434.T), Japan's No.3 mobile network provider, began offering a generous reward campaign for most mobile users using SoftBank Group's (9984.T) PayPay online payment system. Without profits, the mobile unit is not likely to entice would-be suitors and competition laws would probably prevent the likes of SoftBank and Docomo from bidding.

Persons: Japan's Rakuten, Hiroshi, Mickey, Rakuten, Mitsunobu Tsuruo, Rakuten's, NTT Docomo, Mikitani, Amir Anvarzadeh, Anton Bridge, David Dolan, Edwina Gibbs Organizations: Citi, Amazon Japan, Rakuten Securities, Rakuten Bank, SBI Securities, GUNNING, Rakuten Mobile, Reuters, NTT, SoftBank Corp, Asymmetric Advisors, Thomson Locations: TOKYO, ARPU

Oil rigs are seen at Vaca Muerta shale oil and gas drilling, in the Patagonian province of Neuquen, Argentina January 21, 2019. REUTERS/Agustin Marcarian/File Photo Acquire Licensing RightsSept 13 (Reuters) - Oil rose on Wednesday, firming its ground near a 10-month peak reached during trading a day earlier, as the market balanced supply concerns over Libya output and OPEC+ cuts with global macroeconomic headwinds. But U.S. crude oil, distillate and gasoline stockpiles rose last week, according to market sources citing American Petroleum Institute (API) figures on Wednesday. Crude stocks rose by about 1.2 million barrels in the week ended Sept. 8, against analysts estimate of a draw of about 1.9 million barrels. Gasoline inventories rose by about 4.2 million barrels, while distillate inventories rose by about 2.6 million barrels.

Persons: Agustin Marcarian, Satoru Yoshida, Yoshida, Izvestia, Nikolai Shulginov, Brent, Yuka Obayashi, Muyu Xu, Stephen Coates, Jamie Freed, Miral Organizations: REUTERS, Brent, U.S, West Texas, OPEC, U.S . Energy, Rakuten Securities, Libya, of, Petroleum, Energy, American Petroleum Institute, Federal Reserves, Thomson Locations: Vaca, Patagonian, Neuquen, Argentina, Libya, China, Saudi Arabia, Russia, OPEC

☆ Oil prices hover near 10-month high on supply concerns
▼ + stars: | 2023-09-13 | by ( ) www.cnbc.com time to read: +2 min

Oil prices are expected to increase in the second half of 2023, according to the International Energy Forum. Oil prices edged higher on Wednesday, hovering at a new 10-month high hit the previous day, as expectations of tighter global supply and fears of supply disruption in Libya outweighed concerns of slower demand in some countries such as China. The news of OPEC member Libya shutting four of its eastern oil export terminals due to a deadly storm also lent support to oil prices, he added. The EIA, meanwhile, said global oil inventories were expected to decline by almost a half million bpd in the second half of 2023, causing oil prices to rise with Brent averaging $93 per barrel in the fourth quarter. But U.S. crude oil, distillate and gasoline stockpiles rose last week, according to market sources citing American Petroleum Institute figures on Wednesday.

Persons: LCOc1, Satoru Yoshida, Yoshida, Brent Organizations: International Energy, Brent, U.S, West Texas, OPEC, U.S . Energy, Rakuten Securities, Libya, of, Petroleum, American Petroleum Institute Locations: Libya, China, Saudi Arabia, Russia, OPEC

"Oil prices are expected to stay in a range of about 3 dollars above and below $70 for WTI in the near term," Satoru Yoshida, a commodity analyst with Rakuten Securities. Oil prices had risen early in the week following Saudi Arabia's pledge over the weekend for deep output cuts, but they pared gains after rising U.S. fuel stocks and weak Chinese export data. Yoshida said factors such as fears over tighter supply and higher demand as the United States enters driving season which could drive prices higher were being offset by worries over a slow pickup in China's fuel demand. "Crude prices didn't get any favours from China as their economic recovery has disappointed," OANDA analyst Edward Moya said. While a Reuters poll of economists showed the U.S. Federal Reserve could skip a rate hike at its June 13-14 meeting, the absence of similar signals from other major central banks was weighing on the oil demand outlook, Moya added.

Persons: Satoru Yoshida, Saudi Arabia's, Yoshida, Edward Moya, Moya, Yuka Obayashi, Shri Navaratnam Organizations: Saudi, Brent, U.S . West Texas, WTI, Rakuten Securities, U.S . Federal, Thomson Locations: SINGAPORE, United States, Iran, U.S, United, China

In April and May, domestic outflows totalled around 2 trillion yen ($14.81 billion) for individual investors and over 2.2 trillion yen for Japanese institutions. While foreign investors are excited about the prospect of a new era of growth in corporate Japan, domestic investors are eager to catch any profits they can, sticking to a strategy born out of decades of fleeting rallies. Reuters Graphics"It has been a trend that retail investors sell stocks at a peak. This time short-term investors sold stocks as they were cautious about the sharp gains of the Nikkei," said Shoichi Arisawa, general manager of the investment research department at IwaiCosmo Securities. "Long-term investors also sold stocks because they were saddled with losses after the Nikkei made a range-bound move for a long time."

Persons: Shoichi Arisawa, Masayuki Kubota, Kubota, Warren Buffet, Ohara, Ankur Banerjee, Junko Fujita, Rocky Swift, Gaurav Dogra, Tom Westbrook, Sam Holmes Organizations: Nikkei, Reuters, IwaiCosmo Securities, Rakuten Securities, Tokyo Stock, Reuters Graphics, Bank of Japan, Gaurav, Thomson Locations: TOKYO, SINGAPORE, Japan, Tokyo, Singapore, Bengaluru

☆ Oil gains for 3rd day on Kurdish supply concerns, easing banking fears
▼ + stars: | 2023-03-29 | by ( ) www.cnbc.com time to read: +2 min

Oil wells are seen at an oil facility by the Highway 5 near Bakersfield in California, United States on November 27, 2022. Brent crude futures rose 42 cents, or 0.5%, to $79.07 a barrel at 0046 GMT. A drawdown in U.S. crude oil inventories last week also lent support. U.S. crude oil inventories fell by about 6.1 million barrels in the week ended March 24, according to market sources citing American Petroleum Institute figures on Tuesday. Analysts had expected U.S. crude oil stockpiles to have risen last week, while distillate and gasoline inventories were seen down.

☆ Nissan shares rise after overhaul of Renault alliance
▼ + stars: | 2023-01-31 | by ( ) www.reuters.com time to read: +1 min

TOKYO, Jan 31 (Reuters) - Shares of Nissan Motor Corp (7201.T) rose in early trade in Tokyo on Tuesday, after the Japanese automaker and its French partner Renault SA (RENA.PA) announced a sweeping overhaul of their two-decade-old alliance putting them on equal footing. Nissan shares were up almost 2%, outperforming a flat Nikkei 225 share average (.N225). Under the deal announced on Monday, Nissan and Renault will now hold 15% stakes in each other, and Nissan will get voting rights with its stake. Previously, Renault held around 43% of the Japanese automaker and Nissan did not have voting rights. The uneven nature of the alliance had long been a source of friction for Nissan executives.

☆ VIEW Nissan, Renault agree to overhaul alliance, putting themselves on equal footing
▼ + stars: | 2023-01-30 | by ( ) www.reuters.com time to read: +3 min

"We understand Renault is able to ring fence its own technology within the alliance allowing the firm to collaborate also with other external partners beyond the Renault Nissan alliance. "Overall we welcome this step which will enhance the industrial collaboration within the alliance." JEFFERIES"A re-sized capital structure should help keep the Alliance viable, maintaining synergies and opening up strategic opportunities on both sides. Ultimately it means that a disorderly unwind of the alliance has been avoided which is a positive. "Over the short term, it's possible there may be selling (of Nissan shares) due to a worsening of supply and demand.

☆ Most big Japanese firms heed prime minister's call to raise wages this year
▼ + stars: | 2023-01-18 | by ( Rocky Swift | ) www.reuters.com time to read: +4 min

That push was boosted last week when Uniqlo operator Fast Retailing Co (9983.T) said it would raise wages by as much as 40%. Another 29% said they would carry out regular pay increases only, while 38% were undecided. "Prime Minister Kishida has been saying raise wages, raise wages, but the decision to hike pay isn't done on the words of a prime minister or president," said Masayuki Kubota, chief strategist at Rakuten Securities. Smaller firms generally cannot increase pay, business owners, economists and officials say, because they often struggle to pass on higher costs out of fear of losing customers. The Reuters Corporate Survey, conducted for Reuters by Nikkei Research between Dec. 23 and Jan. 13, canvassed 495 big non-financial Japanese firms on condition of anonymity, allowing them to speak more freely.

☆ Mizuho’s fintech punt would overdo optimism
▼ + stars: | 2022-10-06 | by ( ) www.reuters.com time to read: +2 min

First, it values Rakuten Securities at an eye-popping 52 times earnings, based on annualised net profit for the six months to end of June. Listed rival Monex (8698.T) only trades at around 13 times earnings, despite sporting a 22% operating margin, better than Rakuten Securities’ 13%. Second, Mizuho’s largesse will benefit parent Rakuten, the Japanese word for optimism. Register now for FREE unlimited access to Reuters.com RegisterSure, Rakuten Securities has rarity value, not least for banks with less of an online presence. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

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