Month: October 2019

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Trading Ideas

Gold’s Rally Is Driving a Rush to One of Metal’s Final Frontiers

October 23, 2019 admin Comments Off on Gold’s Rally Is Driving a Rush to One of Metal’s Final Frontiers

(Bloomberg) — Step aside Canada, Australia and South Africa: West Africa is fast becoming the hottest ticket in gold mining.Producers and prospectors are pouring money into the region as prices rally and the industry at the southern tip of the continent keeps shrinking. While gold miners face a dearth of new discoveries globally, large parts of West Africa have barely been explored. The deposits tend to be shallow — meaning easy access — and relatively low-cost.At least two new projects started up this year and a further two are scheduled for 2020. AngloGold Ashanti Ltd. is also expanding and modernizing …read more […]

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Trading Ideas

Malaysia, Goldman discuss smaller penalty over 1MDB scandal-Bloomberg

October 23, 2019 admin Comments Off on Malaysia, Goldman discuss smaller penalty over 1MDB scandal-Bloomberg

Malaysia has discussed a $2 billion to $3 billion settlement with Goldman Sachs over the U.S. bank’s alleged role in the 1MDB scandal, Bloomberg reported on Wednesday, less than half the sum the Southeast Asian nation had demanded earlier. Investigators in Malaysia and the United States say about $4.5 billion was misappropriated from the now-defunct state investment fund 1Malaysia Development Berhad, set up in 2009 by former Prime Minister Najib Razak who has been slapped with several charges. Last year, Malaysia filed criminal charges against Goldman over its role as underwriter and arranger of three bond sales that …read more […]

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Business News

Morgan Stanley elbows out rivals for plum role in $1.5 billion IPO relaunch: sources

October 23, 2019 admin Comments Off on Morgan Stanley elbows out rivals for plum role in $1.5 billion IPO relaunch: sources

Morgan Stanley has usurped rivals including Deutsche Bank, Citigroup, Credit Suisse and Goldman Sachs to lead the relaunch of a $1.45 billion IPO – Hong Kong’s second-largest this year – in an unusually brutal shuffling of banks’ roles on a big deal.

…read more […]

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Trading Ideas

Morgan Stanley elbows out rivals for plum role in $1.5 bln IPO relaunch – sources

October 23, 2019 admin Comments Off on Morgan Stanley elbows out rivals for plum role in $1.5 bln IPO relaunch – sources

Morgan Stanley has usurped rivals including Deutsche Bank, Citigroup, Credit Suisse and Goldman Sachs to lead the relaunch of a $1.45 billion IPO – Hong Kong’s second-largest this year – in an unusually brutal shuffling of banks’ roles on a big deal. The Wall Street bank was approached by ESR Cayman and its main backer, Warburg Pincus, in August to develop a rescue plan for ESR’s initial public offering (IPO), according to two sources involved in the transaction, after the industrial property investor was forced to pull its original planned float in June. …read more […]

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Gold bides time as traders await clarity on Brexit

October 23, 2019 admin Comments Off on Gold bides time as traders await clarity on Brexit

* Spot gold was unchanged at $1,488.50 per ounce, as of 0125 GMT. U.S. gold futures rose 0.3% to $1,491.30 per ounce. * EU leaders should delay Brexit after Prime Minister Boris Johnson paused legislation on his deal following a parliamentary defeat, EU Council President Donald Tusk said on Tuesday, as Britain spins towards a possible election to break the impasse. …read more […]