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☆ India's first green bond issue pulls local bidders, foreigners aloof - traders
▼ + stars: | 2023-01-25 | by ( Dharamraj Lalit Dhutia | ) www.reuters.com time to read: +2 min

MUMBAI, Jan 25 (Reuters) - India's first sovereign green bond issue was mostly subscribed by local banks and insurance companies, with limited interest from foreign investors, market participants said. New Delhi raised 80 billion rupees ($981.31 million) via green bonds on Wednesday. The five-year 7.38% 2027 bond yield was at 7.15%, while the benchmark 7.26% 2032 bond yield was at 7.35% during the time of bidding. Local banks and mutual funds do not have a specific mandate to invest in green bonds and treat these at par with other sovereign bonds. Ahead of Wednesday's auction, the government had met foreign investors to gauge the demand, Reuters had reported.

☆ Bolivia taps Chinese battery giant CATL to help develop lithium riches
▼ + stars: | 2023-01-20 | by ( Daniel Ramos | ) www.reuters.com time to read: +2 min

LA PAZ, Jan 20 (Reuters) - Bolivia has chosen a consortium including Chinese battery giant CATL (300750.SZ) to help develop the South American country's huge, but largely untapped, reserves of lithium after a lengthy bidding process involving firms from the United States and Russia. The deal announced at an event in the political capital La Paz would see the CBC consortium partner on direct lithium extraction from the country's Potosi and Oruro salt flats. The companies who have remained in the race include U.S. firm Lilac Solutions, Russia's Uranium One Group and three other Chinese bidders. "Today begins the era of industrialization of Bolivian lithium," Arce said, adding that there was "no time to lose" in developing the metal. Energy minister Franklin Molina said the move showed there were "sovereign alternatives to the privatization models of lithium exploitation."

☆ Kim Kardashian buys Princess Diana’s amethyst and diamond cross for $197,453
▼ + stars: | 2023-01-19 | by ( Liz Calvario | ) www.nbcnews.com time to read: +3 min

Kim Kardashian is now the owner of one of Princess Diana’s precious jewels. The “Kardashians” star bought the Princess of Wales’ amethyst and diamond Attallah Cross for $197,453, Sotheby’s London announced on Jan. 18. The piece was worn by Diana on Oct. 27, 1987, when she attended a charity gala in London. Diana, Princess Of Wales, arrives at a charity gala wearing a gold and amethyst crucifix in 1987. Diana’s famous sapphire engagement ring, which now belongs to the new Princess of Wales, the former Kate Middleton, was also designed by Garrard.

Vice Media is restarting its sale process after earlier interested bidders balked at the initial price tag, according to people familiar with the situation. The digital media company, which was valued at $5.7 billion in 2017, is now likely to fetch a price of below $1 billion, the people said. Initially, Vice was looking for a valuation between $1 billion and $1.5 billion, one of the people added. A Vice Media spokesperson declined to comment. Meanwhile, Buzzfeed , the only digital media company to IPO, has seen its stock fall roughly 90% since going public in 2021.

☆ Netflix reality TV head on how doc series 'Break Point' can become a 'Drive to Survive' for pro tennis — and whether the streamer's sports doc success will lead it into live sports
▼ + stars: | 2023-01-18 | by ( Elaine Low | ) www.businessinsider.com time to read: +6 min

Formula 1 racing saw a boost in TV viewership and fandom since Netflix began streaming docuseries "Drive to Survive." Amid a boom in sports docs, the streamer is looking for another hit in tennis series "Break Point." Netflix unscripted TV head Brandon Riegg spoke to Insider about the streamer's ambitions in live sports. Netflix execs and tennis fans are hoping that "Break Point," the streamer's new docuseries centered on the 2022 Grand Slam season, can be the racket sport's "Drive to Survive." "I wouldn't be surprised," Netflix VP of unscripted and docuseries Brandon Riegg told Insider the day before "Break Point" premiered.

☆ Lufthansa offers Alitalia heir last chance to fly
▼ + stars: | 2023-01-18 | by ( ) www.reuters.com time to read: +2 min

MILAN, Jan 18 (Reuters Breakingviews) - Lufthansa’s (LHAG.DE) boss Carsten Spohr is trying to catch Alitalia’s successor before it crashes. But Italian media and sources familiar with the situation have said the Germans could inject 300 million euros for a 40% stake. That would value ITA at 750 million euros, much less than the lofty 1.2 billion euro valuation that shipping giant MSC, a former Lufthansa ally, was prepared to pay a year ago. Bidders for Alitalia and its successor have come and gone, contributing to the Italian state burning over 10 billion euros of taxpayers’ money in multiple bailouts. Lufthansa, which considers Italy an attractive tourist market, could revamp the smaller carrier by linking it to its network of global routes.

☆ Sun Cable project: Billionaires' feud over Australia-Singapore cable escalates
▼ + stars: | 2023-01-18 | by ( Hilary Whiteman | ) edition.cnn.com time to read: +10 min

The proposed Sun Cable project would see a subsea cable stretch from Darwin to Singapore. A statement from Cannon-Brookes’ private investment arm, Grok Ventures, suggested all investors except Forrest’s investment arm Squadron Energy remain committed to the cable. Tim Buckley, director of Climate Energy Finance, says the export of green hydrogen (hydrogen generated from renewable energy) is at least a decade away. “The market for green hydrogen exports has sort of deflated quite dramatically when people realize there’ll be a decade or two before you can actually ship green hydrogen anywhere overseas,” he said. For example, Xlinks plans to run a cable almost as long and powerful from Morocco to the United Kingdom.

☆ Origin Energy gives suitor Brookfield more time to review books
▼ + stars: | 2023-01-17 | by ( ) www.reuters.com time to read: +1 min

Jan 17 (Reuters) - Australia's Origin Energy (ORG.AX) has extended the exclusivity period for a Brookfield-led consortium to finalise its A$15.5 billion ($10.81 billion) buyout bid, the power producer said on Tuesday. The exclusivity period has been extended to Jan. 24, upon the consortium's request, Origin said. Origin Energy did not specify a reason for the extension, which sparked concern about the fate of the bid. Its shares fell as much as 3.7% to a low of A$7.37, well below the proposed offer price of A$9 a share. Origin said in November it would back the proposed offer if it went ahead.

☆ Trinidad plans new offshore gas auction under revamped terms -sources
▼ + stars: | 2023-01-16 | by ( Curtis Williams | ) www.reuters.com time to read: +2 min

PORT OF SPAIN, Jan 16 (Reuters) - Trinidad and Tobago plans an auction this quarter of up to 20 offshore natural gas exploration blocks under new fiscal terms designed to increase the pool of potential bidders, people familiar with the matter said. The Caribbean nation has been working to stem a decline in its natural gas output and to spur exploration in its shallow waters, where almost all of its natural gas is produced. The new fiscal terms and a plan to provide seismic data aim to lure new bidders, the people said. Trinidad and Tobago has a natural gas deficit of 25% of its installed processing capacity, with daily production of just under 3 billion cubic feet per day (bcfd) leading to a shortfall in LNG and petrochemical production. Reporting by Curtis Williams in Port of Spain; editing by Gary McWilliams and Grant McCoolOur Standards: The Thomson Reuters Trust Principles.

☆ CVS Health in talks to buy Oak Street Health - Bloomberg News
▼ + stars: | 2023-01-09 | by ( ) www.reuters.com time to read: +1 min

Jan 9 (Reuters) - CVS Health Corp (CVS.N) is exploring an acquisition of primary care center operator Oak Street Health Inc (OSH.N), Bloomberg News reported on Monday citing people familiar with the matter. Shares of Oak Street Health rose 27% in after-hours trading after closing 4.25% higher at $22.57 on Monday, earning the Chicago-based company a market cap of $5.5 billion. CVS declined to comment while Oak Street did not immediately respond to a Reuters request. Oak Street Health runs primary care centers across United States for recipients of Medicare, the U.S. government insurance program for Americans aged 65 and older, and has private equity firms such as General Atlantic and Newlight Partners among its shareholders. CVS had also expressed interest in expanding into the primary care space, and was reportedly among the bidders to acquire primary care provider Cano Health before backing out.

The sale of the plant to a consortium, led by Cypriot private equity firm G.O.I. The sale process is in contrast to Germany's confiscation of Rosneft's Schwedt refinery and Gazprom Germania, or Russia's takeover of Sakhalin 1 from Exxon Mobil (XOM.N). Energy is run by Michael Bobrov, who is also CEO of Israeli firm Green Oil that holds a major stake in Israel's biggest refiner Bazan Group. The deal marks an expansion into the refining sector for Trafigura that concluded a similar deal with Prax in 2021 for a refinery in Britain. Trafigura also holds a 3% stake in Italian refiner Saras, an indirect stake in India's major Nayara refinery and runs two small refineries via its subsidiary Puma Energy.

☆ A pair of Michael Jordan's Nikes just sold for more than $92,000, setting a record that solidifies sneakers as an asset class
▼ + stars: | 2023-01-06 | by ( Matthew Kish | ) www.businessinsider.com time to read: +3 min

Rally last week sold a pair of Jordan 11 "Concords" that Michael Jordan wore in 1996 for more than $92,000. While the market for sneakers has weakened, there's still strong demand for the most coveted kicks. Petrozzo said the price is a record for "Concords," although other game-worn Jordan sneakers have gone for more, including a pair that sold for $560,000 in 2020. Rally also sold a pair of game-worn Jordan 3s for $61,500 in December, generating a nearly 180% profit for investors who purchased shares in January 2020. Rally's other listings include a game-worn pair of Jordan 1s that are down 48% since first listing in November 2020.

☆ StanChart suitors track banking’s flighty fortunes
▼ + stars: | 2023-01-06 | by ( Peter Thal Larsen | ) www.reuters.com time to read: +4 min

But one reliable rule of thumb is that Standard Chartered (STAN.L) will be the subject of periodic bouts of takeover speculation. The latest prospective suitor, First Abu Dhabi Bank (FAB.AD), reflects the shifting fortunes of global banking. Under UK rules, First Abu Dhabi cannot make an offer for StanChart for six months, unless another bidder emerges. The Abu Dhabi lender said it had been in “the very early stages of evaluating a possible offer” for the emerging markets-focused bank. Standard Chartered declined to comment.

China has said it only counts deaths of COVID patients caused by pneumonia and respiratory failure as COVID-related. The holiday travel rush is expected to last for 40 days, from Jan. 7 to Feb. 15, the Ministry of Transport said this week. China's official death toll of 5,246 since the pandemic began compares with more than 1 million deaths in the United States. The United States, India, Italy, Japan and Taiwan said they would require COVID tests for travellers from China. Omicron was still the dominant strain in China, Chinese health officials said this week.

☆ Bugatti is auctioning off its last purely gas-powered car and it's one-of-a-kind
▼ + stars: | 2022-12-23 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +4 min

The Bugatti Chiron Profilée is painted in a special color called Argent Atlantique, a hue developed just for this car. Bugatti RimacThe Bugatti Chiron Profilée was being developed, starting in late 2020, as one of several versions of the Chiron, Bugatti’s primary model. Included in that 500 have been a few variants, such as the Chiron Sport, Chiron Pur Sport and Chiron Super Sport, each with varying degrees of top speed, acceleration and cornering aggressiveness. The Bugatti Chiron Profilée has an aerodynamic wing to increase pressure on the rear wheels at high speeds. Bugatti RimacThe French ultra-luxury car maker had previously indicated that the convertible W16 Mistral, revealed last August, would be its last gas powered car model.

YouTube TV will pay roughly $2 billion a year for the rights of the Sunday Ticket package, according to people familiar with the matter. Amazon secured the rights to “Thursday Night Football,” making it the first streaming-only platform to air NFL games, paying about $1 billion per year. YouTube TV is an internet bundle of broadcast and cable networks that mirrors a traditional linear pay-TV operator. The company has been expanding its sports footprint for its Apple TV+ streaming service. DirecTV is interested in delivering Sunday Ticket games in a similar capacity, people familiar with the matter have said.

☆ NFL 'Sunday Ticket' goes to YouTube in seven-year, $2 billion annual deal
▼ + stars: | 2022-12-22 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +4 min

Patrick Mcdermott | Getty ImagesIn the latter option, consumers will be able to subscribe only to "Sunday Ticket" without having a YouTube TV subscription. NFL Media not includedThe deal with YouTube TV does not include a stake in NFL Media, which includes the linear cable channels NFL Network and RedZone, as well as NFL.com. Prasad said Thursday the NFL is still evaluating potential partners for NFL Media, "but there's no specific initiative right now." It's the last NFL package to land a media rights renewal. Amazon secured the rights to "Thursday Night Football," making it the first streaming-only platform to air NFL games, paying about $1 billion per year.

☆ 12 media executives anonymously predict 2023's biggest deals, trends and changes
▼ + stars: | 2022-12-18 | by ( Alex Sherman | ) www.cnbc.com time to read: +5 min

Candle Media has acquired intellectual property assets including Reese Witherspoon's Hello Sunshine production company and Moonbug, which owns the animated kids series "CoComelon." Executive 3: Iger extends his contract There's been lots of speculation over who Iger will choose as his successor. History suggests he has a hard time leaving the role of Disney CEO. Christine M. McCarthy, Senior Executive Vice President and Chief Financial Officer The Walt Disney Company. "I love Shari [Redstone], but ViacomCBS is not long for this world as it stands today," said a media executive last year.

Dec 17 (Reuters) - L3Harris Technologies Inc (LHX.N) is nearing a $4.7 billion deal to acquire U.S. rocket maker Aerojet Rocketdyne Holdings Inc (AJRD.N), 10 months after the latter's $4.4 billion sale to Lockheed Martin Corp (LMT.N) fell through, people familiar with the matter said on Saturday. L3Harris is a defense contractor that is mostly a competitor rather than a customer of Aerojet. Aerojet's solid fuel rocket motors and other propulsion systems would help L3Harris expand its space defense systems and precision munitions businesses. Spokespeople for Aerojet, L3Harris and General Electric did not immediately respond to requests for comment. Its customers include the Pentagon, Boeing (BA.N), Lockheed Martin and Raytheon Technologies Corp (RTX.N).

Marriott Bonvoy loyalty members currently have the opportunity to bid Marriott points on Super Bowl LVII packages through the Marriott Bonvoy Moments program. Even better, now through Dec. 20, Chase is offering a 40% bonus when transferring points to Marriott, so you'll actually get 1.4 Marriott points for every Chase point you transfer. Bottom lineSuper Bowl tickets are expensive, but if you have a hoard of Marriott Bonvoy points you may be able to win packages available through the Marriott Bonvoy Moments program. These Super Bowl packages are being sold to the highest bidders and include tickets to the game, hotel accommodations, and exclusive experiences. Unfortunately, if you don't have enough Marriott points to win one of the Super Bowl packages you may have a tough time using them to save money on hotel stays.

☆ Chief of Mexico's Mifel says it is still in bidding process for Citibanamex
▼ + stars: | 2022-12-15 | by ( ) www.reuters.com time to read: +1 min

MEXICO CITY, Dec 14 (Reuters) - Mexico's Banca Mifel is still in the bidding process for Citigroup's (C.N) Mexican retail bank Citibanamex, Mifel's head Daniel Becker told Reuters on Wednesday. Speaking at an event hosted by Mexico's banking association, Becker - the bank's chairman and CEO - said the race was not over, but declined to comment further. The competition to buy one of Mexico's biggest retail banks has narrowed to two bidders, with smaller rival Mifel, in conjunction with a band of investors, battling billionaire German Larrea's conglomerate Grupo Mexico (GMEXICOB.MX). The two remaining bidders are now conducting further due diligence on the business, sources told Reuters late last month. Reporting by Valentine Hilaire; Writing by Isabel Woodford; Editing by Anthony Esposito and Alistair BellOur Standards: The Thomson Reuters Trust Principles.

☆ India bank sale sharpens valuation rivalry
▼ + stars: | 2022-12-15 | by ( Shritama Bose | ) www.reuters.com time to read: +3 min

Sumitomo Mitsui Financial (8316.T), Carlyle (CG.O) and Fairfax Financial (FFH.TO) may each be eyeing some of the 61% stake on offer in $7 billion IDBI Bank (IDBI.NS), per reports by The Economic Times and Mint. These latecomers’ share of outstanding loans fell to 55% in March 2022 from 70% in 2016, per Reserve Bank of India data. CONTEXT NEWSIndia on Dec. 14 extended the deadline to submit preliminary bids for the sale of a controlling stake in IDBI Bank to Jan. 7 from Dec. 16. New Delhi intends to sell 30.48%; Life Insurance Corporation of India, which is almost entirely government-owned, will sell a 30.24% stake. Carlyle, Fairfax Financial and DBS Bank are considering bidding for at least 10% each in IDBI Bank, Mint reported on Nov. 7, citing unnamed sources.

[1/2] A worker shelters from the rain under a Union Flag umbrella as he passes the London Stock Exchange in London, Britain, October 1, 2008. An investor in Wood Group (WG.L), an oilfield services company, urged the company to buy back some of its own shares to avoid being a target. The domestically-focused FTSE 250 (.FTMC) is down by almost a fifth this year while the internationally-focused blue-chip FTSE 100 (.FTSE) is up 0.8% thanks to a drop in the pound. A currency advantage alone does not necessarily kick-start deals though, according to Owain Evans, co-head of UK M&A for Goldman Sachs. "Large corporates continue to look at 'bolt-ons', where they can draw on existing facilities to do those deals, that's why the mid-cap space is attractive to the strategics in this environment," said Celia Murray, head of UK M&A at JPMorgan.

☆ Amgen to buy Horizon Therapeutics for $26.40 billion
▼ + stars: | 2022-12-12 | by ( ) www.reuters.com time to read: +1 min

Dec 12 (Reuters) - Amgen Inc (AMGN.O) will buy rare disease drugmaker Horizon Therapeutics Plc (HZNP.O) for $26.40 billion, it said on Monday, in its biggest deal ever that gives the biotech company access to blockbuster thyroid eye disease treatment Tepezza. The offer values Horizon at $27.8 billion on a fully diluted basis, according to the company, which includes ordinary shares to be vested. Based on Reuters calculations, it values Horizon at $26.40 billion. The offer values Horizon at $28.3 billion, including debt. The Wall Street Journal on Sunday reported that Amgen was close to acquiring Horizon after the other bidders pulled out of the race.

☆ Tech firm says “you’re welcome” with $8 bln LBO
▼ + stars: | 2022-12-12 | by ( ) www.reuters.com time to read: +2 min

NEW YORK, Dec 12 (Reuters Breakingviews) - Coupa Software (COUP.O) wants its investors to know one thing: Business is terrible. The developer of corporate expenditure-tracking software released a presentation Monday after announcing an $8 billion deal to be sold to private equity firm Thoma Bravo. Once the domain of hockey-stick growth charts and wild-eyed optimism, the humbling of the software industry promises a new era of real-talk. Coupa’s Thoma agreement comes after near-5% shareholder HMI Capital Management warned management about selling on the cheap. So Coupa came prepared with a bevy of charts showing growth stalling and management expectations below even analyst estimates.

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