Last Friday, what many in the energy market had long suspected might happen, happened.
Valero, the largest independent refiner in the US, was forced to close another 200,000-plus barrel-per-day refinery — this time,
Markets live chat transcript for the chat ending at 12:17 on 23 Nov 2009. Participants in this chat were: Neil Hume, FT (NH) Miles Johnson, FT (MJ) NH:hello there NH:It’s 11.03am
Markets live chat transcript for the chat ending at 12:14 on 20 Nov 2009. Participants in this chat were: Neil Hume, FT (NH) Bryce Elder (BE) NH:right NH:it’s 11.03 NH:and time
We love talking about contango on FT Alphaville.
But no one, it turns out, can turn a nerdy market-structure story about the shape of the futures curve into an alarmist `evil speculator’ rant extraordinaire quite like the Daily Mail.
Markets live chat transcript for the chat ending at 12:15 on 19 Nov 2009. Participants in this chat were: Neil Hume, FT (NH) Miles Johnson, FT (MJ) NH:good morning NH:and welcome to Markets Live
So, Hershey has entered the fray.
From RNS on Wednesday:
The Hershey Company (”Hershey”) notes the recent press speculation regarding a potential offer for Cadbury. Hershey confirms that it is reviewing its options and at this stage there can be no assurance that any proposal or offer from Hershey will be forthcoming.
Markets live chat transcript for the chat ending at 12:19 on 18 Nov 2009. Participants in this chat were: Neil Hume, FT (NH) Bryce Elder (BE) NH:good morning NH:it’s 11.03am
Markets live chat transcript for the chat ending at 12:23 on 17 Nov 2009. Participants in this chat were: Neil Hume, FT (NH) Miles Johnson, FT (MJ) NH:Good morning NH:It’s 11.03am
Markets live chat transcript for the chat ending at 12:10 on 16 Nov 2009. Participants in this chat were: Neil Hume, FT (NH) Miles Johnson, FT (MJ) NH:Hey there NH:It’s 11.03
There are more questions than answers in the below — but here are two ratings actions that look set to light the blogosphere on fire:
Fitch Downgrades Abacus 2006-17; Removed from Watch Negative
Markets live chat transcript for the chat ending at 12:14 on 13 Nov 2009. Participants in this chat were: Neil Hume, FT (NH) Miles Johnson, FT (MJ)
NH:
Right
NH:
Good morning
Markets live chat transcript for the chat ending at 12:18 on 11 Nov 2009. Participants in this chat were: Neil Hume, FT (NH) Miles Johnson, FT (MJ) Bryce Elder (BE) NH:hola NH:and welcome to Markets Live
Markets live chat transcript for the chat ending at 12:11 on 10 Nov 2009. Participants in this chat were: Neil Hume, FT (NH) Bryce Elder (BE) NH:good moaning NH:and welcome to Markets Live
Markets live chat transcript for the chat ending at 12:10 on 6 Nov 2009. Participants in this chat were: Neil Hume, FT (NH) Miles Johnson, FT (MJ) NH:good morning NH:and welcome to Markets Live
It is almost a year since BHP Billiton abandoned its $62bn pursuit of Rio Tinto and…
people are starting to speculate.
Earlier this week, the Australian Financial Review asked whether BHP might bid again if the proposed iron ore joint venture (IOJV) between the two companies collapses.
Markets live chat transcript for the chat ending at 12:12 on 5 Nov 2009. Participants in this chat were: Neil Hume, FT (NH) Miles Johnson, FT (MJ) NH:Hey there NH:It’s 11.03am
Rating agency Standard & Poor’s is a touch concerned the initial draft of the Financial Stability Improvement Act of 2009 might hurt the creditworthiness of US financial firms.
The draft bill, released in October by the Treasury and the US House Financial Services Committee,
Given that Fitch has just downgraded Ireland’s sovereign rating from AA+ to AA-, we thought you might be interested in a bit of Irish analysis. The below is an FT Alphaville round-up of the latest developments regarding Ireland’s bad banks plan — the so-called National Asset Management Agency,
Markets live chat transcript for the chat ending at 12:14 on 4 Nov 2009. Participants in this chat were: Neil Hume, FT (NH) Miles Johnson, FT (MJ) NH:hola NH:it’s 11.03am
Marc Faber’s latest Gloomboomdoom newsletter — as readable as ever — has turned up on the internet.
We can report that Mr Faber is somewhat puzzled that, so far in 2009, ordinary investors having been doing what they always do — namely buying high and selling cheap.
Markets live chat transcript for the chat ending at 12:08 on 3 Nov 2009. Participants in this chat were: Neil Hume, FT (NH) Miles Johnson, FT (MJ) NH:Hey there NH:it’s 11:03am
The chart below, from Data Explorers, shows that the mammoth short-selling interest in Lloyds Banking Group shows no sign of shrinking ahead of the restructuring it is expected to announce later this week:
Markets live chat transcript for the chat ending at 12:15 on 2 Nov 2009. Participants in this chat were: Neil Hume, FT (NH) Miles Johnson, FT (MJ) NH:Hola NH:It’s 11.03am
Comment, analysis and other offerings from Friday’s FT,
Philip Stephens: The future or the museum? Europe’s moment of choice
The other day a visitor from China asked whether I thought Britain was falling into inexorable decline.
Markets live chat transcript for the chat ending at 12:11 on 29 Oct 2009. Participants in this chat were: Neil Hume, FT (NH) Miles Johnson, FT (MJ) NH:Hola NH:it’s 11.03am
Markets live chat transcript for the chat ending at 12:12 on 28 Oct 2009. Participants in this chat were: Neil Hume, FT (NH) Miles Johnson, FT (MJ) NH:hey there NH:this is FT Alphaville
By Goldman Sachs…
A 50-odd page presentation from the former investment bank has surfaced - prepared by three Goldman MDs for a meeting with SEC officials back in September.
The document provides a detailed defence of the benefits of high frequency trading,
Markets live chat transcript for the chat ending at 12:12 on 27 Oct 2009. Participants in this chat were: Neil Hume, FT (NH) Miles Johnson, FT (MJ) Paul Murphy (PM) NH:hola hombres
Galleon co-founder Raj Rajaratnam sent this letter to clients on Wednesday:
Dear Galleon Employees, Clients and Friends,
I have decided that it is now in the best interest of our investors and employees to conduct an orderly wind down of Galleon’s funds while we explore various alternatives for our business.
Wall Street, as anyone familiar with the failure of Long Term Capital Management will know, treats a teetering hedge fund as carrion crows do a wounded animal.
And with Galleon investors rushing to withdraw money from the scandal hit fund (the WSJ reports about $1.3bn of its $3.7bn of assets having been pulled) the feeding frenzy has begun.
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