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Record low LNG spot prices attract bargain hunters

Record low spot prices for liquefied natural gas (LNG) are attracting buying interest from companies in Asia hunting a bargain after China’s top buyer of the fuel declared force majeure last week, four trade sources said on Monday. Sellers, however, are wary because of an array of operational issues, the sources said, speaking on condition of anonymity. Asian spot LNG prices touched a record low this month following reports China’s top LNG buyer China National Offshore Oil Corporation (CNOOC) had declared force majeure on some prompt LNG deliveries. …read more […]

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‘Nightmare’ for Global Tech: Virus Fallout is Just Beginning

(Bloomberg) — As Chinese-based manufacturers begin to restart factories Monday, no one knows for sure when they’ll be back at full-speed — or what sort of chaos may ensue.Tech producers led by Foxconn, which makes the majority of the world’s iPhones from Zhengzhou a few hundred miles from the coronavirus outbreak’s epicenter, had begun preparing investors for the potential bedlam when hundreds of thousands make their way back to factories.Apple Inc.’s most important partner warned investors of the daunting task of securing enough workers despite widespread transport blockades, quarantining thousands, and the “nightmare” scenario of an on-campus epidemic that could …read more […]

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Germany’s Kramp-Karrenbauer to Step Down as CDU Leader

Feb.10 — Annegret Kramp-Karrenbauer plans to step down as leader of Chancellor Angela Merkel’s Christian Democratic Union, a spokesman for the party said in a statement on Monday. Kramp-Karrenbauer will also not seek to run as chancellor candidate for the CDU in the next election. Matt Miller reports on “Bloomberg Markets: European Open.” …read more […]

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China Warns France Against Excluding Huawei From 5G Networks

(Bloomberg) — China warned France against treating Huawei Technologies Co. differently from European competitors when it comes to future 5G network equipment contracts, as the U.S. mounts a campaign to keep the Chinese tech giant at bay.In a lengthy statement issued on Sunday on its website, the Chinese embassy in Paris urged France to establish “transparent criteria and treat all companies in a similar way,” referring to telecom equipment makers.It also warned that a difference in treatment based on the country of origin would be considered “blatant discrimination” and “disguised protectionism.”The statement also carried a veiled warning.“We do not wish …read more […]

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China’s Stressed Borrowers Face Wall of Debt Due in March

(Bloomberg) — China’s most stressed dollar debtors face a major test of their financing capacity next month, with over a tenth of all bonds coming due just as the nation grapples with the economic impact of a virus that continues to spread.About $2.1 billion of offshore notes with yields of at least 15% — characterizing them as stressed — are due in March, the biggest monthly maturity wall this year, according to data compiled by Bloomberg. Most were sold by property developers, an industry that’s been hard hit with China’s transport system hobbled and much of the economy in an …read more […]

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‘Parasite’ Wins Oscar for Best Picture as Netflix Comes Up Short

(Bloomberg) — The South Korean comedy “Parasite” captured the Oscar for best picture of 2019, making history as the first foreign language film to win Hollywood’s most-coveted award.Bong Joon Ho, who made the film, was crowned best director Sunday at the 92nd Academy Awards in Hollywood, another first. His film also captured Oscars for best original screenplay and top international picture.The victory was a defining moment in the globalization of Hollywood, which had previously favored homegrown films over foreign-language fare. With Asian directors increasingly grabbing the spotlight — and the region poised to be home to the world’s No. 1 …read more […]