The Traderszone Network

BOSTON/NEW YORK (Reuters) – A group of shareholders is looking to strip Bank of America Corp Chief Executive Brian Moynihan of his chairman title on Tuesday in an investor vote and whether they fail or succeed, they have notched a victory just by getting the bank to hold a special meeting on the matter. Tuesday’s vote is the culmination of months’ of work by investors including the California Public Employees’ Retirement System, the largest public pension system in America, after the bank’s board said last October that it was giving CEO Moynihan the title of chairman as well.

Goldman Sachs (GS.N) will likely keep a stake in Danish utility DONG Energy after shares in the company are listed in the next 18 months, Michael Spect Bruun, a partner of the investment bank, was quoted saying by newspaper Borsen on Tuesday. The government sold 18 percent of DONG to a group of investors led by Goldman in January last year, prompting public protests and the departure of the Socialist People’s Party from the ruling coalition because of what it believed was the bank’s role in the 2007-2009 financial crisis.

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French state-controlled utility EDF (EDF.PA) wants to expand into renewable energy outside Europe, Chief Executive Jean-Bernard Levy was quoted saying by financial daily Les Echos in an interview published on Tuesday. Levy said barely 5 percent of EDF’s assets were outside Europe, where there is little economic or demographic growth. “By 2030, we want to have a significant presence in three to five countries outside Europe, notably in solar and wind,” Levy was quoted as saying.

European airlines are exploiting a collapse in oil prices by hedging more of their fuel needs further into the future, but those that kept their powder dry before the rout are emerging as clear winners, industry sources say. Global crude prices (LCOc1)(CLc1) have fallen around 60 percent over the last 15 months and European jet fuel (JET-C-NWE) prices have halved. This seems great news for cost-conscious travelers and profit-hungry airlines, which burnt through 5.4 million barrels per day (bpd) of jet fuel – 6 percent of all oil products globally – in 2012, the most recent U.S.

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Currently 1.5493 about as miserable as the weather outside. Yesterday’s failure above 1.5550 confirming my bearish view
Offers:
 1.5520 1.5545-50 1.5575 1.5600-05 1.5620 1.5650
Bids:

Not quite able to make their mind up as markets open despite firmer Chinese performance
– FTSE  flat
– DAX  +0.2%
– CAC40 -0.2%
– FTMIB  -0.2%
China’s Shanghai Comp Index and CS1300 Index both closed up +0.9%

Right here’s George keeping Chinese ties very close on his current trip to Shanghai
on cue
– there is still enormous appetite for offshore renminbi despite recent volatility
Eamonn has posted other Osborne comments on China while back in August I posted as the love-fest continues