Month: February 2020

(Bloomberg) — SoftBank Group Corp. founder Masayoshi Son opened the door to making at least some of the changes championed by activist investor Paul Singer, after the Japanese company reported a second quarter of losses from its startup investing.Son called Singer’s Elliott Management Corp. an “important partner” and said he is in broad agreement with the investor about SoftBank buybacks and share value. Son said he is on the side of shareholders, especially since he is the largest stockholder at the company. The two billionaires held discussions a couple weeks ago, he said.Son is adopting a more conciliatory stance just …read more […]

(Bloomberg) — SoftBank Group Corp. founder Masayoshi Son opened the door to making at least some of the changes championed by activist investor Paul Singer, after the Japanese company reported a second quarter of losses from its startup investing.Son called Singer’s Elliott Management Corp. an “important partner” and said he is in broad agreement with the investor about SoftBank buybacks and share value. Son said he is on the side of shareholders, especially since he is the largest stockholder at the company. The two billionaires held discussions a couple weeks ago, he said.Son is adopting a more conciliatory stance just …read more […]

(Bloomberg) — Deutsche Bank AG sold its first Additional Tier 1 bond since 2014 after drawing a flood of orders, as signs of progress in a turnaround bolster the appeal of the high-coupon notes.The German lender priced the $1.25 billion perpetual note at 6%, versus an initial price target of about 6.75%, according to a person familiar with the matter, who asked not to be identified because they’re not authorized to speak about it. The bonds, callable in October 2025, have an expected B1 rating at Moody’s Investors Service, or four steps below investment grade.The bank received as much as …read more […]

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(Bloomberg) — Oil rallied back above $50 a barrel as investors waited to see whether Russia would accept an OPEC+ plan for production cuts to cope with demand destruction from the coronavirus.Moscow is “studying” the proposal, to curb crude output by a further 600,000 barrels a day, Energy Minister Alexander Novak said in a statement that didn’t specify when Russia would make a decision. Meanwhile, an American Petroleum Institute report that showed U.S. crude inventories rose by 6 million barrels last week highlighted the weak global demand outlook.Oil appears to have found a floor around the $50-a-barrel mark as investors …read more […]