19 August, 2014 by The TZ Newswire Staff Comments Off on Canada’s Couche-Tard makes short-list in $16 billion Sinopec unit sale: sources
Canada’s Couche-Tard makes short-list in $16 billion Sinopec unit sale: sources
HONG KONG/BEIJING (Reuters) – Canadian retailer Alimentation Couche-Tard Inc and China’s Tencent Holdings Ltd are among suitors short-listed to buy a $16 billion minority stake in China’s Sinopec Sales, the world’s largest fuel retail network, people familiar with the matter told Reuters. China Life Insurance Co Ltd, the nation’s biggest insurer, Hong Kong-listed ENN Energy Holdings Ltd, privately-owned Fosun Group, Hopu Investment Management and Affinity Equity Partners have also progressed to the next round, said the people who declined to be identified as the sale process is confidential.
19 August, 2014 by The TZ Newswire Staff Comments Off on Argentina aims to skirt U.S. court, bring debt under national law
Argentina aims to skirt U.S. court, bring debt under national law
President Cristina Fernandez on Tuesday unveiled legislation that seeks to push bondholders to swap defaulted debt for new notes governed by Argentine law, a move aimed at skirting a U.S. Argentina slid into default last month after a New York court blocked an interest payment of $539 million owed to holders of debt that was restructured after the country’s record 2002 default. The judge said Argentina could not proceed with that payment until it had also settled on repayment terms with a group of funds that had rejected the restructuring deal and are demanding full payment.
19 August, 2014 by The TZ Newswire Staff Comments Off on China Bond Default Risk Reignites, Despite "Never Anticipating Any Risks"
China Bond Default Risk Reignites, Despite "Never Anticipating Any Risks"
When, six months ago, we first brought the market’s attention to Chaori Solar – China’s first corporate bond default in history – there were 2 narrative sin play: 1) it’s all good, government knows the contagion risk and will bail them out (that happened), or 2) if government bails them out, it will merely delay the inevitable and stoke further risk exposure (that happened too).
19 August, 2014 by The TZ Newswire Staff Comments Off on Why So Much Anger In Ferguson? 10 Facts About The Massive Economic Gap Between White & Black America
Why So Much Anger In Ferguson? 10 Facts About The Massive Economic Gap Between White & Black America
Submitted by Michael Snyder of The Economic Collapse blog,
19 August, 2014 by The TZ Newswire Staff Comments Off on Jack Lew’s Worst Nightmare – China’s Currency Should Be 20% ‘Weaker’
Jack Lew’s Worst Nightmare – China’s Currency Should Be 20% ‘Weaker’
The constant chant from Washington over the past few years has been one of falling just short of labeling China “a currency manipulator” and proclaiming unilaterally that the Yuan is being artificially maintained at a lower level than it should be. However, as Bloomberg Briefs’ Fielding Chen notes, based on a trade-weighted basket, China’s currency is actually 20% over-valued.
19 August, 2014 by The TZ Newswire Staff Comments Off on Tuesday Market Wrap
Tuesday Market Wrap
New levels……… Short term support is at 1973 and 1956, with resistance at SPX 1991 and the 2019. We ended the day very short term overbought, so I took some profits, if you are following along at home please click the P&L tab for any adjustments.
There are still great setups out there and I’m trying to find the next move, maybe a new sector rotation.
Energy (XLE) has been sold off, so there may be some names there. Stay runed.
See you in the morning.
19 August, 2014 by The TZ Newswire Staff Comments Off on Dollar holds firm after solid housing starts data
Dollar holds firm after solid housing starts data
The dollar held firm near 11-month high after strong U.S. housing data added to hopes of a firming recovery in the world’s biggest economy.