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’An unjustified WTI distortion?
JBC Energy has picked up on the ongoing problem of the WTI-Brent forward curve disconnect on Wednesday.
In a nutshell, while Brent futures prices have been jostling nicely into a flattish curve structure (and even a touch of backwardation at the very front end),
When Cushing syndrome strikes…
The WTI super-contango is back, which incidentally also implies the inevitable return of so-called ‘Cushing syndrome’ - a term nicely coined by JBC Energy, as it happens.
On Thursday, US inventory data showed that Cushing stocks — the delivery point for WTI futures – fell last week by 330,495 barrels to 37.6m,
Kradbury: More hot chocolate
Cadbury shares burst through the 800p level this morning, with much chatter in the market over whether Nestle could launch a counterbid.
The main hitch would be that a combined Cadbury-Nestle would hold close to half of the UK chocolate market – something unlikely to get past the Office of Fair Trading and then the Competition Commission.
Mars, Buffett confirm $23bn Wrigley deal
Details emerged Monday of the $23bn takeover by Mars of chewing gum giant Wrigley, financed partly by Warren Buffett’s Berkshire Hathaway. In a deal similar to an LBO, privately-owned Mars will provide $11bn in equity and Buffett $4.4bn in subordinated debt.
Warren Buffett chews gum and identifies value at the same time
Is this the ultimate expression of Buffettology?
Founded in 1891, the William Wrigley Jr Company, began giving away its eponymous gum with cans of baking powder before customer demand encouraged a refocusing of the business.
Mars, Buffett in $22bn Wrigley bid
Mars and Warren Buffett’s Berkshire Hathaway are close to a pact to acquire Wm. Wrigley Jr. for more than $22bn billion in a deal that would remake the global confectionary landscape, reports the WSJ. A deal would unite two icons of the US candy business: