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☆ GE to sell $2.44 bln stake in aircraft leasing provider AerCap
▼ + stars: | 2023-09-11 | by ( ) www.reuters.com time to read: +1 min

AerCap said GE Capital U.S. Holdings will sell about 40.7 million shares of the company at $59 per share. The offering was upsized from the previously announced 32.4 million shares. The transaction follows a sale of 18 million shares by GE in March. In March 2021, GE said it would "over time" sell its stake - 33.6% as per latest LSEG data - after AerCap bought the conglomerate's aircraft leasing unit in a $30 billion deal. AerCap also agreed on Monday to repurchase about 15.3 million shares, worth about $878 million, at $57.53 per share.

Persons: Aly, AerCap, Goldman Sachs, Morgan, Kannaki Deka, Sriraj Kalluvila Organizations: Electric, GE, Artificial Intelligence, REUTERS, AerCap Holdings, General Electric Co, GE Capital U.S . Holdings, GE Capital, underwriters, Citigroup, Barclays, BofA Securities, Thomson Locations: Shanghai, China, Dublin, Bengaluru

☆ Lessor AerCap agrees settlement over Aeroflot jets stranded in Russia
▼ + stars: | 2023-09-06 | by ( Conor Humphries | ) www.reuters.com time to read: +4 min

Before last year's invasion of Ukraine, Russia was a major market for aircraft lessors, which bought jets from Boeing (BA.N) and Airbus (AIR.PA) and leased them to Russian airlines. Aeroflot said in a statement that ownership of 18 aircraft and five engines had transferred to NSK following settlement with AerCap. AerCap filed a $3.5 billion London lawsuit last year against AIG and Lloyd's over 141 aircraft and 29 aircraft engines it owned that were on lease to Russian airlines. AerCap said settlement discussions were ongoing with respect to claims under the insurance policies of several other Russian airlines. AerCap in March said it had been approached by Russian airlines and their insurance companies about possible settlements for the stranded planes.

Persons: BOE, Denis Balibouse, AerCap, lessors, Conor Humphries, Gleb Stolyarov, Kirstin Ridley, Jason Neely, David Evans, Peter Graff Organizations: Airbus, Russian, Aeroflot, REUTERS, DUBLIN, NSK, Rossiya, Boeing, U.S . Treasury, Commerce, AIG, SMBC Aviation, Reuters, Thomson Locations: Geneva, Switzerland, Russia, Ukraine, Ireland, Moscow, NSK, AerCap, EU

☆ PE firm Novacap has acquired the TV adtech platform Cadent, which now plans to go on an acquisition spree
▼ + stars: | 2023-08-09 | by ( Lara O'Reilly | ) www.businessinsider.com time to read: +3 min

PE firm Novacap has acquired TV adtech company Cadent. Canadian private equity firm Novacap has acquired the US TV adtech platform Cadent, the pair said Wednesday. With traditional TV viewing long in decline, advertisers have increasingly turned to connected-TV platforms. US broadcast and cable TV ad spending is expected to drop by 8% this year, but will still be significant at $61.3 billion, per Insider Intelligence's forecast. Cadent had previously been owned by another private equity firm, Lee Equity Partners, which acquired the company in 2013.

Persons: Novacap, Nick Troiano, Troiano, Cadent, Pascal Tremblay Organizations: Cross Mediaworks, CTV, Intelligence, Fund, Investment, RBC Capital Markets, TD Securities, Scotiabank, Lee Equity Partners

☆ Aircraft lessors set for June 2024 trial over Russia insurance claims
▼ + stars: | 2023-07-31 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Dado Ruvic/Illustration/File photoDUBLIN, July 31 (Reuters) - Some of the world's largest aircraft lessors and insurers are aiming to be ready to go to trial in June 2024 over contested insurance claims for aircraft stuck in Russia, a lawyer for one of the lessors said on Monday. Those steps include finding a venue large enough for the 180 attendees Smith said were expected at the trial each day. Justice Denis McDonald told a packed hearing last month that no court in Ireland was large enough to hear the case. The world's biggest aircraft lessor, Irish-based AerCap (AER.N), is pursuing its insurance claims through London's High Court. AerCap's Chief Financial Officer said on Monday that it continued to have discussions with Russian insurers on a potential settlement regarding some of its aircraft stranded in Russia.

Persons: Dado Ruvic, Lessors, Kelley Smith, Avolon, Smith, Denis McDonald, we're, Peter Juhas, Padraic Halpin, Mark Potter Organizations: SMBC Aviation, REUTERS, BOC Aviation, HK, CDB Aviation, Nordic Aviation Capital, Carlyle Aviation Partners, world's, Thomson Locations: Russian, DUBLIN, Russia, Ukraine, Ireland, London's

☆ Mega cap's resilient profit margins helped stocks recoup 2022 losses, says NFJ's John Mowrey
▼ + stars: | 2023-07-05 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMega cap's resilient profit margins helped stocks recoup 2022 losses, says NFJ's John MowreyVictoria Fernandez, Crossmark Global Investments chief market strategist, John Mowrey, NFJ Investment Group CIO, and Adam Parker, Trivariate Research, join 'Closing Bell' to discuss the best risk to reward equation in the markets, the investors' current positioning, and more.

Persons: NFJ's John Mowrey Victoria Fernandez, John Mowrey, Adam Parker Organizations: Crossmark Global Investments, NFJ Investment, Research

☆ Scientists may have discovered the first antidote to the deadliest mushroom known to humans
▼ + stars: | 2023-05-21 | by ( Rupendra Brahambhatt | ) www.businessinsider.com time to read: +4 min

Death cap mushrooms kill up to 100 people per year and sicken thousands more but have no antidote. Scientists used CRISPR to help identify a chemical that could become the first death cap antidote. A recent study in Nature Communications finally found a possible death cap mushroom antidote. A death cap mushroom antidote is long-awaitedMushroom foragers can easily mistake death cap mushrooms for other edible fungi. When the researchers tested ICG in mice poisoned with the death cap mushroom toxin, the results were eye-opening.

☆ Here are Monday's biggest analyst calls: Apple, Exxon, Crox, Meta, JPMorgan Chase, SoFi, DuPont & more
▼ + stars: | 2023-05-15 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Loop upgrades Meta to buy from hold Loop said it sees a "brighter revenue picture" for the social media giant. Morgan Stanley reiterates Exxon Mobil as overweight Morgan Stanley said it has "high confidence" in the oil and gas giant. We do think consensus estimates for 2023/24 remain too high but believe the buy-side is more aligned with our below-consensus views." Citi initiates AerCap as buy Citi said demand should remain attractive for the aviation leasing company. Deutsche Bank upgrades DuPont to buy from hold Deutsche said DuPoint is well positioned in an uncertain macro. "

May 9 (Reuters) - Digital stablecoin tether is winning the race for the title of the crypto world's "least risky" asset. Tether is already the top performer among stablecoins -- digital tokens pegged to some fiat asset like the dollar -- and has seen its market value soar since March. Buying tether and bitcoin is really a vote against the U.S. system," says Jensen. On CoinMarketCap's database of 23,891 tokens, tether has risen to number 3 with a market cap of $82 bln and a share of 6.83%. NO NEWS IS GOOD NEWSTo be sure, tether has long been dogged by doubts about its peg being backed by dollar reserves.

☆ Alberta wildfire shuts in at least 2% of Canadian energy production
▼ + stars: | 2023-05-08 | by ( ) www.reuters.com time to read: +4 min

It added that about 50,000 boepd of production has been temporarily curtailed since the evening of May 5. Crescent Point Energy Corp (CPG.TO)Crescent Point said about 45,000 boepd of production in the Kaybob Duvernay region has been temporarily shut in with a plan to restart production once safe and permitted to do so. NuVista Energy Ltd (NVA.TO)The company said it has temporarily shut in and depressured all operations proximal to the ongoing fires in the Grande Prairie region. Vermilion Energy Inc (VET.TO)Vermilion Energy said it had temporarily shut in about 30,000 boepd of production and that it was assessing the risk to its operations. Cenovus Energy Inc (CVE.TO)Cenovus said it has shut-in production and brought plants down in some areas of its conventional business.

☆ Webb telescope takes striking image of planet Uranus
▼ + stars: | 2023-04-07 | by ( Taylor Nicioli | ) edition.cnn.com time to read: +4 min

CNN —The James Webb Space Telescope has captured a new stunning image of ice giant Uranus, with almost all its faint dusty rings on display. Uranus has 13 known rings, with 11 of them visible in the new Webb image. A November Hubble image of Uranus (left) captured the planet's bright polar cap, while the recent Webb image displayed more detail, with a subtle enhanced brightness at the cap's center. With the exact mechanism behind the haze unknown, scientists are studying the polar cap using telescope images such as this new Webb image. In this new Webb image, similar to other recent images by the Hubble Space Telescope, storm clouds can be seen at the edge of the polar cap.

Houston, Texas-based EnCap is working with an investment bank to independently sell Novo Oil & Gas Holdings and Forge Energy II, the sources said. EnCap, Novo, and Forge did not respond to comment requests. In 2018, EnCap invested about $400 million in Forge, which currently produces about 14,000 boepd, the sources said. On Monday, Ovintiv Inc (OVV.N) said it would buy assets in the Midland part of the Permian from EnCap for $4.3 billion. In January, Matador Resources Co (MTDR.N) bought Advance Energy Partners from EnCap for $1.6 billion.

☆ Goldman Sachs just raised their recession probability due to stress in the banking system. These 20 stocks are least sensitive to an economic downturn, the bank says.
▼ + stars: | 2023-03-20 | by ( William Edwards | ) www.businessinsider.com time to read: +3 min

Silicon Valley Bank, Signature Bank, and First Republic Bank have all battled woes in the last week. Silicon Valley Bank and Signature Bank of New York both closed in recent days as a result of a run on deposits. Silicon Valley Bank had taken significant losses on bond investments, causing depositors to worry that their money would not be safe. This fear spread to customers of Signature Bank, which then sold assets at a loss to meet liquidity demands. First Republic Bank also appeared to have insufficient liquidity to weather a bank run, fueling concerns that it would be closed down.

The Exchange Companies Association of Pakistan (ECAP) said late on Tuesday it was lifting the cap on the currency in the interest of the country. Before the cap on the rupee was removed, markets eyed three different rates to assess its value -- the state bank's official rate, the one assessed by the foreign exchange companies and the black market rate. He said the removal of the cap would curb the black market. "The black market rate is still sticky in the range of 260-270. The decision of exchange companies has not had any impact as such," said Fahad Rauf, Head of Research at Ismail Iqbal Securities.

Companies could also move their gas trading off energy exchanges, where the EU price cap will apply, and instead conduct private transactions. The EU cap will not initially cover these "over-the-counter" (OTC) trades, although the bloc will review next year if they should be included. The EU price cap applies to EU hubs, but not those outside the bloc, such as Britain's National Balancing Point (NBP) trading hub. Front-month TTF prices met the price level required to trigger the EU cap on about 40 days this year. EU gas demand dropped by 20% in August-November this year, compared with the five-year average for the same period, Eurostat said on Tuesday.

☆ Russia oil turmoil seen driving tanker market higher
▼ + stars: | 2022-11-28 | by ( Jonathan Saul | ) www.reuters.com time to read: +3 min

In the latest action against Russia in response to its invasion of Ukraine that began in February, the European Union will ban Russian crude imports from Dec 5, and Russian oil products from Feb 5. Maersk Tankers Chief Executive Christian M. Ingerslev told Reuters he expected demand to be healthy as Russian oil continues to flow, but to different markets. "With new sanctions coming into place, we expect that Russian oil will continue to be moved. Freight rates have hit record highs in recent weeks and analysts expect them to stay supported for both crude and oil products tankers, potentially driving inflation that has hit multi-decade highs. A G7 plan, intended as an add-on to the EU embargo, will allow shipping services providers, such as insurers, to help enable Russian oil to be exported, but only at enforced low prices.

☆ Exclusive: Buyout firm EnCap eyes first oil and gas production fund in five years - sources
▼ + stars: | 2022-11-22 | by ( David French | ) www.reuters.com time to read: +2 min

Houston-based EnCap has approached investors in its previous funds to gauge their interest in participating in the new launch, the four sources said. It would be EnCap's 12th flagship fund and it could be officially marketed to investors early in 2023, the sources added. Many private equity investors have fallen out of love with the oil and gas sector as easy-to-drill acreage is becoming scarcer and more expensive for private equity firms. EnCap has sought to attract ESG-minded investors through EnCap Energy Transition Fund II, its second fund dedicated to helping companies transition to clean energy for which it is currently seeking $2 billion, according to a separate source. EnCap is also raising its fifth fund for its pipeline infrastructure affiliate, EnCap Flatrock Midstream, seeking $3 billion.

☆ Yellen heads to India to draw surging economic power closer to U.S. orbit
▼ + stars: | 2022-11-08 | by ( David Lawder | ) www.reuters.com time to read: +4 min

On the contrary, the official told reporters that India will benefit from the cap's lower prices. TENSIONS, ALIGNMENTBut the economic relationship has challenges, including trade disputes over U.S. steel duties and India's retaliatory tariffs on Harley-Davidson (HOG.N) motorcycles. Differences over digital trade and India's data localization rules have dogged trade negotiations for years. "That's a message that's extremely appealing to India," said Richard Rossow, an India expert at the Center for Strategic and International Studies in Washington. The Treasury official said the two democracies were committed "to upholding the rules-based international order at a critical time for the cause of freedom."

☆ U.S. job growth seen smallest in nearly two years in October, unemployment rate up
▼ + stars: | 2022-11-04 | by ( Lucia Mutikani | ) www.reuters.com time to read: +5 min

"The labor market is basically OK, but it does seem to be slowing," said Guy Berger, principal economist at LinkedInin San Francisco. "The Fed is going to try to thread the needle where they slow down the labor market enough to put downward pressure on wages and inflation, without causing a recession." Still, the labor market remains tight, with 1.9 job openings per unemployed person at the end of September. Stripping out any distortions from the weather and calendar quirk, wage growth is cooling. "We believe we've seen wage growth peak," said Michelle Green, principal economist at Prevedere in Columbus, Ohio.

☆ Analysis: UK's Hunt faces triple threat from debt, recession and Conservative rebels
▼ + stars: | 2022-10-25 | by ( William Schomberg | ) www.reuters.com time to read: +5 min

Hunt, re-appointed to his job by new Prime Minister Rishi Sunak on Tuesday, is due to announce a budget plan on Oct. 31. Hunt, a former foreign and health minister, was rushed in as Truss's new finance minister after she fired her friend and fellow low-tax disciple Kwarteng less than two weeks ago in a bid to appease the markets. Hunt immediately ripped up Truss and Kwarteng's programme, reversing most of its 45 billion pounds of tax cuts, and he warned of tough decisions ahead to restore Britain's economic credibility. But the scale of the problem remains huge, with health, education and other public services in Britain under huge strain after more than a decade of tough controls on public spending. Just as important in the short term, Hunt and Sunak must decide what to do with Britain's hugely expensive energy price cap for homes and businesses.

☆ China's BYD wins five-star European safety rating for electric SUV
▼ + stars: | 2022-10-12 | by ( Nick Carey | ) www.reuters.com time to read: +2 min

LONDON, Oct 12 (Reuters) - BYD (002594.SZ) on Wednesday received a coveted five-star Euro NCAP safety rating for its electric ATTO 3 crossover SUV, the latest Chinese carmaker to receive top marks as it seeks to gain a foothold in Europe's competitive car market. Last month Chinee rival Great Wall Motor (601633.SS) received five-star ratings for its WEY brand Coffee 01 hybrid SUV and its ORA brand Funky Cat electric sedan. Just this week BYD launched the ATTO 3 in India, which sells in China as the Yuan Plus. Last week, German car rental company Sixt (SIXG.DE) said it has committed to buying around 100,000 electric vehicles from China's BYD in the coming years. Among the other cars receiving a five-star rating on Wednesday was Mercedes-Benz's (MBGn.DE) EQE electric sedan.

☆ Video: Where US rents are rising and falling on CNN Nightcap
▼ + stars: | 2022-08-18 | by ( ) edition.cnn.com time to read: 1 min

Daryl Fairweather, chief economist for Redfin, explains to " Nightcap's " Vanessa Yurkevich why supply and demand has created an "affordability crisis" for renters. For more, watch the full Nightcap episode here

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