Markets News Regulators 

Here’s how the Jackson Hole gathering may influence the dollar, bonds and emerging markets

“Wall Street investors are awaiting a key gathering of prominent central bankers at Jackson Hole, Wyo., which could have implications for an array of assets, from international stocks and bonds to emerging-market assets” writes Sunny Oh for marketwatch.com. The dollar’s strength has come at the expense of emerging-market assets.Moreover, higher interest rates can make emerging-market assets less appealing, compared against the risk, relative to other assets like, U.S. government bonds, for yield-seeking investors.If trade tensions are spotlighted, EMs could come under further pressure, leading the dollar higher in response, market…

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News Oil 

Exclusive: U.S. energy group Hess Corp’s SE Asia assets attract bid interest – sources

“A number of parties have looked (at the Hess assets) and have teams working on this,” said one financial source” writes Midwest Communications Inc for 95kqds.com. In 2014, it sold its Thai assets to PTTEP for $1 billion and also sold its Indonesian assets.He said PTTEP was working with a financial advisor for its interest in the assets.Hess signed a production-sharing contract with Petronas in 2012 and has a contract with the oil major till 2029. Source: 95kqds.com Share This:

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News 

Superflex rebrands as Seismic, buys assets of Lumo Bodytech

“Bodysuit tech company Superflex said it has rebranded as Seismic and acquired the intellectual property of Lumo Bodytech, a motion science company known for its posture-correcting and fitness devices” writes Dean Takahashi for venturebeat.com. The acquisition of Lumo Bodytech’s assets will strategically enhance Seismic’s suit control algorithms with extensive body posture and activity data.Menlo Park, California-based Seismic is scheduled to unveil its new company vision and latest prototype at next month’s TechCrunch Disrupt SF technology conference in San Francisco. Source: venturebeat.com Share This:

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News 

There’s still value in select Turkish assets, fund manager says. Here’s where to find it 

“Foreign investment increased from hundreds of millions of dollars per year prior to Erdogan’s rule to an average of $13 billion a year” writes Natasha Turak for cnbc.com. As Turkey’s currency crisis continues, most recently jolted by sanctions and tariffs issued by Washington and Ankara on one another, investors are largely steering clear of Turkish assets.But there may still be value in export-driven firms, and this could increase as many Turkish companies resort to exports to pursue growth and bring foreign currency into the country, according to an investment manager.Turkey…

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News Stocks 

Saudis could play only minor part in Musk’s Tesla plan, bankers say

“More than half of its assets are tied up in large Saudi companies whose stocks could be difficult to sell en masse” reports autoblog.com. RIYADH, Saudi Arabia — Elon Musk told investors this week that “obviously, the Saudi sovereign fund has more than enough capital needed” to finance taking Tesla private.Spokesmen for the fund, as well as Saudi government officials, have so far declined any comment on Musk’s statements. Source: autoblog.com Share This:

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News Stocks 

Saudi fund may only play minor part in Musk’s $72 billion Tesla plan: bankers

“More than half of its assets are tied up in large Saudi companies whose stocks could be difficult to sell en masse” writes Midwest Communications Inc for 95kqds.com. RIYADH (Reuters) – Elon Musk told investors this week that “obviously, the Saudi sovereign fund has more than enough capital needed” to finance taking Tesla private.But stock exchange data shows $140 billion or more of the PIF’s assets are in big Saudi companies such as Saudi Basic Industries (SABIC) and National Commercial Bank. Source: 95kqds.com Share This:

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Markets News Stocks 

Chinese investors are putting their money in a lot of places — rarely stocks

“But the future development of the Chinese asset management industry still depends on government regulation” writes Evelyn Cheng for cnbc.com. And as Chinese investors grow more sophisticated, local financial services are focused more on developing fixed income and private equity products.On the mass market level, mobile-based money market funds dominate.Stocks still rank low on the popularity list for Chinese investors, while private funds are playing a larger role in the country’s asset management market — which many predict will soon become the world’s second largest.The category accounts for 60 percent…

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News 

Contagion from Turkish currency collapse to European banks is ‘overblown,’ says analyst

“Analysts at ABN AMRO ABN, +9.86% point to Spanish bank BBVA BBVA, +0.81% as a potential source of contagion” writes Sunny Oh for marketwatch.com. In the chart below, the probability of default for European banks has stabilized, even as the finances of Turkish banks have worsened.See: Why Turkey’s currency crisis is rattling Europe bank stocks and the euro “Everything I’ve looked at, the concerns [over European banks] are really overdone.If you look at the credit quality of European banks, it’s been pretty stable,” said Carruthers.On average, the average ratio of…

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News 

RWE says Innogy deal on track after first-half core profit in line

“RWE on Tuesday said a deal to break up its networks and renewables unit Innogy with rival E.ON was on track after posting first-half core profit that was in line with expectations” writes Sportphoto Ullstein Bild for cnbc.com. As one of Europe’s leading electricity producers, we will have an even broader and stronger portfolio of assets,” RWE Chief Executive Rolf Martin Schmitz said in a statement.Overall, assets worth nearly 40 billion euros ($45.6 billion) will change hands as part of the deal, which is expected to close next year, RWE…

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Crypto News 

Cryptocurrency Users Can Now Send Assets to…

“It is a very controversial business model, mainly because Swiss banks refuse to accept money from cryptocurrency transactions” writes Jp Buntinx for livebitcoinnews.com. During a time when many banks are refusing to offer financial services to cryptocurrency-related businesses, two private banks in Switzerland have stepped up to the plate.This decision by Swiss banks is a positive trend for the cryptocurrency industry.Swiss banks are now following that country’s lead by example.Crypto assets from services rendered or mining can be transferred to the Swiss bank with no issues. Source: livebitcoinnews.com Share This:

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