After a year of low oil prices, only 0.1 percent of global production has been curtailed because it’s unprofitable, according to a report from consultants Wood Mackenzie Ltd. that highlights the industry’s resilience. The analysis, published ahead of an annual oil-industry gathering in London next week, suggests that oil prices will need to drop even more -- or stay low for a lot longer -- to meaningfully reduce global production. OPEC and major oil companies like BP Plc and Occidental Petrole
Beijing-based oncology biotech BeiGene ($BGNE) has priced its offer of 6.6 million American Depositary Shares at $24 each, the top of the range to take in $158.4 million in an initial public offering on the Nasdaq that should set the tone for another pending China-focused offering. Hong Kong-based Hutchison China MediTech, or Chi-Med, in November filed an F-1 form with the U.S. SEC detailing its proposed $100 million IPO on the Nasdaq, with executive director and CEO Christian Hogg in January declining comme
China is probably going to surprise markets by strengthening the yuan’s daily fixings over the next few weeks, driving a revival in risk appetite that will buoy currencies from Australia to Malaysia, according to Goldman Sachs Group Inc.’s head of exchange-rate strategy. The nation is in a “Catch-22” situation whereby policy makers keen to stimulate the economy are finding that weakening the yuan’s reference rate tightens financial conditions by worsening an equities rout and ca
Gold's rally this year has been driven mainly by what may be termed Western factors, namely buying on the back of worries over the state of the global economy and the subsequent desire for safe haven assets. Spot gold has jumped more than 9 percent to around $1,150 an ounce since the start of year, bringing out bullish views that the yellow metal's dark years since the peak near $2,000 in September 2011 are finally over. Falling equity markets, both in developed and developing markets, credit and
China has sealed a new number 1 deal — its largest overseas acquisition. Here is a look at the country's biggest deals outside of Greater China, and a snapshot of Bloomberg's coverage at the time: 1) China National Chemical Corp., or ChemChina, agrees to buy Syngenta AG Announced Feb. 3, 2016. Total enterprise value (including debt): $46.3 billion The deal would help Chairman Ren Jianxin transform ChemChina into the world’s biggest supplier of pesticides and agrochemicals, whi
Europe’s largest publicly traded asset manager is calling the bottom for oil and sees a rebound in prices as one of the spurs that may start a new bull cycle in commodities. Schroders Plc says the oil price could rally almost two-thirds to as high as $50 a barrel in a few months as a slump to a 12-year low means producers will have to cut output. That should encourage a wave of retail investors to return to raw materials, according to Geoff Blanning, head of commodities at Schroders, where he helps ove
U.S. companies created 151,000 jobs in January, a disappointment compared to the economist consensus leading up to the report. That's bad news for anyone still holding out hope that t... Full Story
is pleased to announce the receipts of 1.5% net smelter returns from the Gora deposit. The first royalty income was delivered to the Company on January 22, 2016. The royalty is a... Full Story
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