Bank of Japan’s interest rate increase catches Tokyo market by surprise
Decision follows vastly lowered target and delay in pricing
Reduction from 16-year high this week now given odds of over 60% by markets
Commodity trader buys half of Varo Energy’s $600mn Dutch project
New York, Toronto and Sydney overtake UK capital as companies seek higher valuations and deeper liquidity
Japanese central bank plans to halve monthly bond purchases as it tightens monetary policy
And crypto regulation
Cartel should help members through an energy transition that will be devastating for many oil producers
And changing its nature in the process
Tokenisation could allow payments to be embedded more efficiently and deeply into our increasingly digital economy
Reaction to forecasts by the bank point to the political sensitivity of research in the country
People’s Bank of China struggles to convince traders that market is overheating
Investors balk at steep valuations amid modest corporate outlooks and bets rise on Fed rate cuts
French bank seeks greater scale for its investment business
European Commission rejects complaints that Ukrainian sanctions on Lukoil threaten security of supply
Facebook and Instagram’s parent company earnings show strength in core advertising business
Alex Beard and four other former employees of UK-listed commodity trader charged after long-running bribery probe
Lacklustre Chinese demand helps push copper down around 20% from record high, while other base metals and corn also fall
Earnings uplift from weak currency might not last much longer
Gas, crude and power prices have dropped back and stabilised to levels before Ukraine war, notes Wael Sawan
New rules in October will make reimbursement compulsory
Ack-man of La Mancha
ICI finding stands in contrast to broader narrative of significant outflows from the wrapper
Can the new $20bn Dangote refinery and ending fuel subsidies help to transform the economy?
Plus, Ares raises a record private credit fund and Rio Tinto stays out of the mining dealmaking frenzy
Tacit acknowledgment of this by the country’s central bank signals a shift to more honest thinking
Blonde ambition
“Well-positioned businesses are pricing their IPOs above price talk and are trading well in the aftermarket”
Jakob Stausholm says ‘major M&A’ could put company off course
Big tech libertarians see crypto as a way of blowing up the Fed
Fossil fuel extractors emit enough methane to meet the annual energy needs of more than half of American homes
Sorry!
Companies link up to create investment manager designed to channel more pension money into private businesses