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Friday, September 17, 2021

Bloomberg News


CN Rail targets cost cuts, buybacks to boost profit 20% and fend off shareholder revolt

TCI is trying to replace the CEO and four members of the board

OCI, Adnoc Push Ahead With IPO of Fertilizer Venture

(Bloomberg) — Chemical producer OCI NV and Abu Dhabi National Oil Co. are planning to list their Middle Eastern fertilizer venture as soon as October, people with knowledge of the matter said.  Advisers to the company, known as Fertiglobe, have been holding early meetings with potential investors and aim to announce plans for the initial […]

Energy Crisis Darkens Pound Outlook Even as Market Prices Hikes

By Libby Cherry (Bloomberg) — The prospect of a protracted energy crisis in Europe is muddying the outlook for the pound and outweighing any boost it stands to receive as investors price in a faster pace of rate hikes.  With the continent facing a gas shortage and the U.K. hampered further by damage to its […]

Iron ore’s brutal collapse under $100 flags more trouble ahead

Top ore miners' shares have dropped sharply since August

China formally applies to join Asian trade deal Trump abandoned

CPTPP, of which Canada is a member, originally envisioned by U.S. as economic bloc to counterbalance China's growing power

EU Lawmakers Urge Probe of Gazprom’s Role in Gas-Price Jump

(Bloomberg) — A group of lawmakers across political groups in the European Parliament called on the European Commission to investigate the role of Gazprom PJSC in a spike in natural gas prices, saying they suspect market manipulation. A supply crunch has sent the cost of energy in Europe to records, squeezing profits for some of […]

Europe’s Energy Crunch Helps Push U.S. Power to Seven-Year High

(Bloomberg) — The price of electricity for the winter in the U.S. soared to a seven-year high in some markets, pushed up by a rally in natural gas that’s been exacerbated by energy-supply shortages gripping Europe.  Traders bid up the forward price of power in the biggest U.S. market to about $82 a megawatt-hour for […]

RBC shakes up executive ranks, promotes Nadine Ahn to CFO

Also expanding portfolio of personal and commercial banking head Neil McLaughlin

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