Goldman Sachs The Goldman Sachs Group, Inc. (Голдман Сакс) (NYSE: GS)&nbsp;&mdash; один из крупнейших в мире инвестиционных банков, являющийся финансовым конгломератом, в кругу финансистов известен как &laquo;The Firm&raquo;, занимается инвестиционным банкингом, торговлей ценными&nbsp; бумагами, инвестиционным менеджментом и другими финансовыми услугами, прежде всего, с институциональными клиентами. С 20 сентября 2013 г. входит в Промышленный индекс Доу-Джонса. Банк был основан в 1869 году, штаб-квартира находится в Нью-Йорке, в Нижнем Манхэттене. Председатель совета директоров&nbsp;&mdash; Ллойд Бланкфейн, президент&nbsp;&mdash; Гэри Коэн. Рыночная капитализация банка на май 2015&nbsp;&mdash; $89.16&nbsp;млрд. Подробнее &nbsp; http://www.goldmansachs.com/ http://so-l.ru/tags/show/goldman_sachs Tue, 24 Apr 2018 03:56:18 +0300 <![CDATA[В Goldman Sachs сделали прогноз о курсе гривны]]> Goldman Sachs

Аналитики инвестбанка Goldman Sachs сохраняют ожидания относительно дальнейшего постепенного укрепления гривни и прогнозируют рост курса в перспективе 12 месяцев до 25 гривен за доллар.

Соответствующий прогноз содержится в аналитическом обзоре инвестбанка, передает«Интерфакс-Украина».

Аналитики Goldman Sachs при этом обратили внимание, что гривня взяла курс на укрепление уже с начала года, тогда как первые месяцы 2017 года динамика была боковой.

Ранее, в середине августе 2017 года аналитики Goldman Sachs прогнозировали рост курса гривни в перспективе трех месяцев до 25,3 грн/доллар, шести месяцев – до 25 грн/доллар, 12 месяцев и к концу 2018 года – до 24,8 грн/доллар.

Нацвалюта тогда находилась в нисходящем тренде, который наметился в начале апреля и продлился до конца лета. Гривня при этом укрепилась до 25,44 грн/доллар с 27,18 грн/доллар.

В последние числа августа 2017 года гривня развернулась вниз. Национальный банк Украины связывал соответствующий разворот со спекуляциями относительно ожидаемой осенью девальвации гривны и для сглаживания повышенной волатильности вынужден был несколько раз выходить на рынок с продажей валюты.

Тем не менее, курс гривни, за исключением некоторого периода в ноябре, продолжал снижаться и завершил 2017 год на отметке 28,09 грн/доллар, что на 3,9% ниже, чем годом ранее.

Подписывайтесь на канал «Хвилі» в Telegram, страницу «Хвилі» в Facebook.

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http://so-l.ru/news/y/2018_04_13_v_goldman_sachs_sdelali_prognoz_o_kurse Fri, 13 Apr 2018 19:58:29 +0300
<![CDATA[Goldman Sachs banker appointed London Stock Exchange CEO]]> David Schwimmer, 49, worked at bank for 20 years and replaces Xavier Rolet, who left in November

The London Stock Exchange has ended its six-month search for a new chief executive by appointing Goldman Sachs banker David Schwimmer to replace Xavier Rolet, who was pushed out in November.

Schwimmer, who advises exchanges as the head of Goldman’s market structure business in New York, will join in August after 20 years at the Wall Street firm. He will be paid £775,000 a year plus a bonus of up to £1.7m and will receive £1.05m to make up for not getting his 2018 bonus from the US investment bank.

Continue reading...]]>
http://so-l.ru/news/y/2018_04_13_london_stock_exchange_appoints_goldman_s Fri, 13 Apr 2018 19:57:33 +0300
<![CDATA[Ты все еще веришь аналитикам?]]> Вот, собственно, график нефти марки Brent по текущий момент, из которого видно, что свои низы нефть показала в конце 2015 года.
Ты все еще веришь аналитикам?
А теперь давайте вспомним прогнозы «великих» по стоимости на следующий (2016) год и ближайшую перспективу (в порядке возрастания целевых значений):

1. По словам главы отдела исследований сырья из Goldman Sachs Group Inc Джеффри Карри, существует риск падения цены на нефть до $20 за баррель.
«Мы ожидаем, что переизбыток запасов нефти сохранится и в следующем году», – заявил он.
(прогноз по стоимости нефти на 2017 г. до $47,5 — при этом аналитики подчеркивают, что пока не могут ответить, почему так сильно ошибались ранее).

2. Министр финансов РФ Антон Силуанов: 30 долларов.
Глава Минфина заявил, что в 2016 году стоимость «черного золота» будет опускаться до этой отметки «в отдельные периоды». При этом в бюджете на будущий год заложены совсем другие цифры.
«Все говорит о том, что низкие цены на нефть будут, скорее всего, в следующем году доминировать, и возможно, что в отдельные периоды это будет, может быть, и 30 долларов за баррель, может быть, и меньше, мы не знаем. Потому что год назад, если бы нам сказали, что будет ниже 40, все бы, наверное, просто посмеялись. Поэтому нужно готовиться к таким непростым для нас временам», – заключил глава Минфина.

3. Британские банки: 30 долларов.
Финансовые учреждения Туманного Альбиона считают падение стоимости «черного золота» до 30 долларов вполне реальной перспективой.


4. Morgan Stanley: 35 долларов.

Руководитель департамента развивающихся рынков Morgan Stanley Investment Management Ручир Шарма заявил, что эксперты ожидают, что низкие цены на сырьевые товары могут держаться многие годы. Он отметил, что «следует подготовиться к долгой зиме на сырьевых рынках». Шарма уточнил, что цены могут опуститься до 35 долларов за баррель.

6. Холдинг Allianz: 70-80 долларов.
Экономический советник холдинга Мохаммед эль-Эриан отрицает возможности возвращения стоимости нефти к 100 долларам на 2016 год, а предлагает цифру от 70 до 80 долларов. Тому есть три причины: отсутствие быстрого роста спроса странами-импортерами, ослабление экономического положения ряда государств-экспортеров, которое в обязательном порядке повлияет на поставки продукции, отказ членов ОПЕК от уменьшения добычи нефти ради стабилизации и укрепления цен на нефтяные продукты.

7. Вице-президент компании ЛУКойл Леонид Федун: 100 долларов.
На панельной дискуссии форума «Сочи-2015» топ-менеджер высказал предположение, что такой отметки стоимость барреля нефти достигнет в 2016 году.
«Прогнозы о дальнейшем падении цен на нефть или сохранения их на нынешнем уровне основаны на распространенных мифах о нефтяном рынке. В следующем году мы увидим растущий тренд, я готов спорить, что мы увидим 70-80 долларов за баррель и даже 100, но при этом будет сохраняться очень высокая волатильность», – считал Леонид Федун.

8. Глава Сбербанка Герман Греф: «Нефтяной век в мире закончился!
Когда я в первый раз сел в автомобиль Tesla, я понял, что это будущее, к сожалению, настало раньше, чем мы его ждали, как всегда», — заявил он, выступая на Гайдаровском форуме-2016 в РАНХиГС.

Можете достать из архивов прогнозы и других известных компаний и инвестдомов: Bank of America, Citigroup, JPMorgan Chase, Societe Generale — везде, как говорится, «в точку»! :)]]>
http://so-l.ru/news/y/2018_04_03_ti_vse_eshe_verish_analitikam Tue, 03 Apr 2018 13:55:32 +0300
<![CDATA[Перезапуск «Черкизово». Владелец «Куриного царства» разместит акции на Московской бирже]]> «Группа Черкизово» (№90 в рейтинге 200 крупнейших российских частных компаний Forbes), в середине февраля 2018 года ушедшая с Лондонской фондовой биржи (LSE), объявила о намерении провести предложение своих обыкновенных акций с листингом на Московской бирже (SPO). 

«Предложение предполагается как перезапуск «Черкизово» на публичных рынках акционерного капитала, что позволит инвесторам принять участие в росте и прибыльности крупнейшего в России вертикально интегрированного производителя мясных продуктов», — говорится в сообщении, опубликованном во вторник, 3 апреля, на сайте компании.

Предложение будет включать в себя первичный и вторичный компоненты. В рамках re-IPO часть своего пакета продадут существующие акционеры компании, в том числе MB Capital Europe Ltd, крупнейшим бенефициаром которой является семья основателя компании Игоря Бабаева (65%). 

Точное количество существующих акций в рамках размещения будет определено в процессе формирования книги заявок.

Также «АПК Михайловский» продаст весь квазиказначейский пакет из 2 916 759 акций (6,63%), которые находятся на балансе компании. MB Capital Europe также может продать акции для исполнения опциона доразмещения.

После предложения и получения всех необходимых одобрений регулятора семья основателей группы обязуется подписаться на первичные акции, которые будут выпущены «Группой Черкизово», по цене, равной цене re-IPO, используя для оплаты средства, вырученные в ходе SPO. Предполагается, что от продажи акций «АПК Михайловский» и от допэмиссии «Группа Черкизово» получит поступления в размере $150 млн. Эти поступления «будут использоваться в общекорпоративных целях, включая погашение долговых обязательств и потенциальные приобретения».

Вторичный компонент предложения составят акции, предложенные действующими акционерами. Ожидается, что размер вторичного компонента предложения превысит размер первичного компонента.

После проведения SPO семья Бабаева планирует оставить за собой стратегический контроль над «Группой Черкизово», сохранив мажоритарную долю владения.

Глобальными координаторами и букраннерами сделки совместно выступают Goldman Sachs International, J. P. Morgan и Sberbank CIB.

История «Черкизово»

Агрохолдинг «Черкизово» был создан в 1993 году Игорем Бабаевым, перебравшимся в Москву с Кубани в 1988 году. В годы приватизации семья бизнесмена скупила контрольный пакет акций завода. 

К 1995 году выручка Черкизовского мясокомбината выросла в три раза. Оценив предприимчивость Бабаева, мэр Москвы Юрий Лужков предложил ему взять в управление еще один столичный МПЗ — Бирюлевский. 

К 2006 году Бабаев передал своим сыновьям Сергею и Евгению Михайловым. В настоящее время Сергей Михайлов — генеральный директор группы, а Евгений - директор по развитию бизнеса. Сам Игорь Бабаев в 2016 году входил в рейтинг 200 богатейших бизнесменов России, занимая 172-е место с состоянием $450 млн.

В мае 2006 года «Группа Черкизово» разместила акции на Лондонской бирже и на РТС, предложив сторонним инвесторам 27,8% акций.

В августе 2017 года фонды Prosperity Capital Management продали 21% акций «Черкизово» контролирующему акционеру группы и его аффилированным лицам. Сумма сделки составила 12 млрд рублей. Через три месяца — в ноябре 2017 года — «Группа Черкизово» объявила о делистинге с Лондонской биржи. Листинг и торги «Черкизово» на LSE были прекращены 15 февраля 2018 года. 

Сейчас семья Бабаева через MB Capital Europe владеет 82,52% акций «Группы Черкизово». Еще 6,63% акций принадлежит 100-процентной «дочке» группы — ООО «АПК «Михайловский», 8,01% находятся во владении испанской Grupo Corporativo Fuertes. Free float составляет 2,35%.

В 2017 году «Группа Черкизово», по информации Российского птицеводческого союза, была вторым по величине производителем мяса птицы в России. И вторым в стране производителем свинины, следует из данных Национального союза свиноводов России. Компания является одним из крупнейших российских производителей колбасы, мясных деликатесов и полуфабрикатов.

В списке крупнейших агрохолдингов России, составленном Forbes в 2017 году, «Группа Черкизово» заняла четвертое место. Среди торговых марок компании — «Петелинка», «Моссельпром», «Куриное царство», «Черкизово» и «Империя вкуса».

Читайте также
Отцовский капитал Как все растет: крупнейшие агрохолдинги России на карте, в цифрах и фактах
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http://so-l.ru/news/y/2018_04_03_perezapusk_cherkizovo_vladelec_kurino Tue, 03 Apr 2018 13:03:27 +0300
<![CDATA[Breakingviews: Dodd-Frank sheds surprising light on Wall St pay]]> The Dodd-Frank Act is shedding some surprising light on Wall Street pay. New disclosures mandated by the crisis-era U.S. law show that the widest income disparities in finance don’t necessarily involve chief executives’ big paychecks. And median compensation can say more about geography and industry sector than inequality. The data may be useful for investors and job seekers alike, and could revive a debate about moving jobs offshore.

President Donald Trump’s administration is eager to pare back the landmark act, but one of Dodd-Frank’s more populist measures is just now coming into force. Angered by misdeeds that provoked the crisis and the rising wealth disparity that followed, lawmakers mandated that companies disclose the ratio between their CEO’s total pay and that of the firm’s median employee.

Though the delta has been yawning for decades, the median 2017 CEO pay ratio of the nearly 375 companies to report so far is a relatively modest 77 to 1, says Equilar. Wall Street bosses beat that handily.

JPMorgan’s Jamie Dimon’s $28 million compensation last year was among the highest reported by a bank, and 364 times the $77,800 median of the bank’s 253,500 employees. Citigroup’s Michael Corbat earned a third less than Dimon, yet his $17.8 million package was 369 times the median. Globalization appears to be a big factor – 54 percent of Citi’s 209,000 employees are in Asia-Pacific and Latin America, where pay scales tend to be lower, while 70 percent of JPMorgan’s staff work in North America.

S&P Global really lives up to its name. CEO Douglas Peterson earned a comparatively modest $10.7 million last year, yet that was 434 times the rating agency’s $24,700 median. The company has cut its U.S. staff nearly in half in the past five years, largely through divestments, and rapidly expanded its footprint in India, where it owns the CRISIL agency and has 19 offices. His counterpart Raymond McDaniel at Moody’s took home 4 percent more than Peterson, yet that was only 187 times the median employee’s $59,700.

Spreading the wealth can defuse the issue. Goldman Sachs paid its median employee nearly $135,200, keeping Lloyd Blankfein’s pay ratio down to 163. Ken Jacobs earned only 67 times the pay of the median employee at Lazard. And Warren Buffett was paid less than two times the $53,510 median paycheck at Berkshire Hathaway. But then egalitarianism comes more easily to a boss worth, according to Forbes, some $84 billion.

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http://so-l.ru/news/y/2018_04_03_breakingviews_dodd_frank_sheds_surprisi Tue, 03 Apr 2018 11:57:38 +0300
<![CDATA[Angry about your company’s gender pay gap? Here’s what to do next]]> This week, we will learn just how big the difference in pay is between men and women in most UK firms. From unionising to asking for a raise, here’s how to use this week’s revelations to push for change

Millions of British women will this week know for certain what they have long suspected – that they are working in organisations where men are on average paid much more than them.

The deadline for reporting the gender pay gap arrives at midnight on 4 April. Any woman working in an organisation with more than 250 employees can enter their company name into the government’s website to see the difference in pay between men and women, and find out what proportion of the highest-paid staff members are women. It doesn’t matter if you work in a high street fashion chain (eg Coast, where the median hourly pay rate for women is 40% lower than for men), for a train company (bonuses paid to women at West Coast Trains are 64% smaller than those paid to men) or at Goldman Sachs (where women’s bonuses are 67% lower than men’s) – you’re almost certainly getting less money. At JP Morgan, only 9% of the best-paid employees are women. At the electric car firm Tesla, that figure is just 2.7%.

Continue reading...]]>
http://so-l.ru/news/y/2018_04_03_angry_about_your_company_s_gender_pay_ga Tue, 03 Apr 2018 08:00:08 +0300
<![CDATA[Apple Roundup: Education, iPhone Estimates Slashed, More]]> President Trump’s stand on China has had technology companies on their toes, with all the CEOs going out of their ways to talk about the benefits of open markets, diversity and so forth. That’s had an unremarkable effect on tech stocks so far. In Apple’s case, which assembles its devices in China, investors have been leery of the government’s actions and their effect on Apple AAPL, creating some selling pressure-

 

Apple Gets Back in the Education Game

Education was a focus area for former CEO Steve Jobs, but it has taken a back seat in recent years as the need to drive profits took over in the absence of new “wow” products coming out of the company. But education (K-12) is an extremely important vertical because that’s when habits are formed. It does however yield lower margins because schools just can’t afford premium devices of the kind that Apple makes.

As a result, the last few years have seen Alphabet’s GOOGL Chromebooks and other devices corner nearly two-thirds of the market with Microsoft MSFT PCs also taking a 22% share. Apple on the other hand has dropped to the third position with a 17% share, according to Bloomberg. Apple’s renewed focus on affordability with its latest set of devices and software should help the company regain some share. Read more: Apple Refocuses on EdTech, Brings Feature-Rich iPad, Apps

Analysts Slash iPhone Estimates

Rosenblatt Securities' Jun Zhang lowered his iPhone X estimates saying that the product was ending its life cycle with no signs of demand picking up. Accordingly, his production forecast for the current quarter is now 1-1.5 million units a month, sown from the prior estimate of 2.5 million units.

Rod Hall of Goldman Sachs lowered his total iPhone sales estimates from 54.7 million units to 53 million units for the March quarter and from 43.5 million to 40.3 million units for the June quarter. His full-year revenue estimate is also down 2.4% to $256.6 billion with the 2019 estimate down 2.7% to $272.5 billion.

The analyst sees Apple having to burn down channel inventory before the next iteration of its phone launches this year. Zhang has a Buy rating and $180 price target on AAPL shares while Hall has a Neutral rating on the shares and $159 price target that was lowered from $161.

Qualcomm Opposes Case Shift To UK

Apple has lodged 15 cases against Qualcomm QCOM across the world for what it calls illegal charges for its standard essential patents. In the UK, the proceedings are between the UK subsidiaries of the two companies over five patents. Apple claims that FRAND terms aren’t justified because it requires payment of a percentage of the end product so more expensive device makers end up paying more.

Moreover, Qualcomm’s practice of bundling essential and non-essential patents makes it hard to determine what it’s charging for the essential patents. Now, Qualcomm says that Apple shouldn’t be filing cases all over the world since it is a California-based company and proceedings are already ongoing in that jurisdiction.

Apple says such a claim falls flat since Qualcomm has also been filing cases against it all over the world. Moreover, it’s only natural that breaching competition and other laws in different jurisdictions would bring separate cases in those jurisdictions.

Other News-

Apple Wants Privacy Regulations: Apple’s Tim Cook has been criticizing Facebook at every possible occasion for the way it allowed the improper collection of personal data by Cambridge Analytica. Last week, he went a step further to say that “We’ve never believed that these detailed profiles of people that have incredibly deep personal information that is patched together from several sources should exist,” and that while he wasn’t generally in favor of too much regulation, he thinks that “we’re beyond that. It’s time for a set of people to think about what can be done.

“Everyone should know what they’re giving up, not only the specific data point but the whole line people can draw: When I know this-plus-this-plus-this-plus-this, I can infer a whole bunch of different things,” Mr. Cook said. “That can be abused.”

Technology Enabled Music Grows: According to the Recording Industry Association of America (RIAA), streaming music platforms like Pandora P, Spotify and Apple Music accounted for almost two-thirds of total U.S. music industry revenues in 2017, growing 50%. For the most part, they cannibalized digital downloads, which dropped 25% although physical (CDs and vinyl) also dropped 4%.

The net effect was a 16.5% increase in revenue for the music industry to $8.7 billion, the first time since 1999 that it grew for two straight years. The next thing is likely to be more originals, so streaming services can differentiate themselves. At least that’s what Apple’s Jimmy Iovine hinted at last week.

Chinese Rivals Launch New Phones: Huawei and Xiaomi announced new phones to take on Apple’s iPhone X and Samsung’s S9. Huawei’s P20 Premium and P20 Pro sport advanced camera features and at $804 for the basic version, is also a good bit cheaper than Apple’s $999 base iPhone X but more expensive than Samsung’s $700 device. Huawei has been making strides in Europe even as strained relations between the U.S. and China affected sales to the country.

In Europe, however, it has been taking share from Apple. Xiaomi on the other hand is shipping the Mi MIX 2S, with comparable camera capabilities, a more powerful battery (that also makes the phone slightly heavier, comparable power and storage, but sacrificing on the display. For slightly lower contrast than the market leaders, which use OLED screens, the company could push out a $527 device.    

TRAI Frowns on Apple Approach to Anti-Span App: Apple has been at loggerheads with the Telecom Regulatory Authority of India (TRAI), which wants Apple to open up its iOS to allow its “Do Not Disturb” app broad access to a user’s contacts, call and text logs. Apple objects because that could compromise a user’s privacy, a point that is hard to get across with Google already obliging the authority because it agrees that the user should be in control of his/her own data and should have the authority to allow or block access as seen fit.

Of course, Apple is right, especially in light of recent findings by the EU that clearly show how data gets connected in the back end, as a user continues to grant access to more and more apps. Apple has said that users should be able to report spam messages, and its technical team would be sitting with the TRAI to see how that could be worked out. But TRAI’s R.S. Sharma seems determined to force its hand and has said that the regulator would take legal measures.

India Woos Tech Firms: India has changed its laws to allow the import of used goods, but there’s a caveat. These goods can still not be sold inside India. As long as the refurbished goods are then exported to other places and local laws related to waste treatment, health, safety and the environment are adhered to, companies like Apple can bring their stuff. The goal for the government is obviously to make the most of the fallout between the U.S. and China to make India a major exporter of refurbished goods.

The benefit for U.S. firms is the same availability of abundant cheap labor that they were getting out of China. Whether the skills are available, or can be developed is the next question. At any rate, if anything comes out of this, it will obviously take time and money, as manufacturing operations are not easily moved around.   

Recommendations

Apple shares have a Zacks Rank #3 (Hold). But you can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Can Hackers Put Money INTO Your Portfolio?

Earlier this year, credit bureau Equifax announced a massive data breach affecting 2 out of every 3 Americans. The cybersecurity industry is expanding quickly in response to this and similar events. But some stocks are better investments than others.

Zacks has just released Cybersecurity! An Investor’s Guide to help Zacks.com readers make the most of the $170 billion per year investment opportunity created by hackers and other threats. It reveals 4 stocks worth looking into right away.

Download the new report now>>


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
Pandora Media, Inc. (P): Free Stock Analysis Report
 
Alphabet Inc. (GOOGL): Free Stock Analysis Report
 
QUALCOMM Incorporated (QCOM): Free Stock Analysis Report
 
Apple Inc. (AAPL): Free Stock Analysis Report
 
Microsoft Corporation (MSFT): Free Stock Analysis Report
 
To read this article on Zacks.com click here.
 
Zacks Investment Research]]>
http://so-l.ru/news/y/2018_04_03_apple_roundup_education_iphone_estimat Tue, 03 Apr 2018 01:08:00 +0300
<![CDATA[Trump to nominate ex-banker Muzinich to top Treasury role]]> President Donald Trump plans to nominate former Wall Street banker Justin Muzinich to be deputy secretary of the Treasury, a person familiar with the matter said.

Muzinich, currently a counselor to Treasury Secretary Steven Mnuchin, would formally take on the No. 2 role if he is confirmed by the Senate. Initially, Mnuchin appeared unlikely to select a deputy after a pair of candidates did not work out.

Brian Brooks, a former Mnuchin colleague at OneWest Financial who is now at Fannie Mae, withdrew his name from consideration late last year. And Mnuchin’s initial selection, Goldman Sachs banker Jim Donovan, withdrew over family concerns.

After Brooks withdrew, a Treasury spokesman said the department had enough full-time staff and that Mnuchin would not fill the deputy role. But Mnuchin later changed his mind, a person familiar with the matter said, deciding he needed a full-time deputy to run the department day-to-day while he is traveling or otherwise occupied in high-level matters.

Muzinich, a former Morgan Stanley banker and an adviser to Jeb Bush’s 2016 presidential campaign, has spent most of his time at Treasury focused on the tax overhaul that Trump signed last year. As deputy secretary, he’s expected to focus on implementation of the tax plan, housing finance reform, international affairs and other key Treasury agenda items.


Muzinich, who holds an MBA from Harvard and a law degree from Yale, worked at Morgan Stanley before serving as president of Muzinich and Co., an investment firm founded by his father. He worked as an informal adviser to Mitt Romney’s 2012 campaign and then for Bush in the 2016 election cycle.

He helped shepherd the tax plan on Capitol Hill along with former National Economic Council Director Gary Cohn and senior NEC staffer Shahira Knight, among others. He’s highly regarded by both Treasury and the West Wing, something not always true of current Treasury staff members.

“Justin is just really great and I’ve got a lot of respect and regard for him,” a former senior White House official said of Muzinich. “What made him really effective on tax reform was that’s he smart and a quick learner and he knows what he doesn’t know and is willing to ask questions and that’s not something you see all the time, especially from former Wall Street people.”


]]>
http://so-l.ru/news/y/2018_04_03_trump_to_nominate_ex_banker_muzinich_to Tue, 03 Apr 2018 00:57:01 +0300
<![CDATA[Headhunter нашел работу банкирам // Интернет-компания подала заявку на IPO]]> http://so-l.ru/news/y/2018_04_02_headhunter_nashel_rabotu_investbankiram Mon, 02 Apr 2018 22:02:00 +0300 <![CDATA[Headhunter нашел работу банкирам // Интернет-компания подала заявку на IPO]]> http://so-l.ru/news/y/2018_04_02_headhunter_nashel_rabotu_bankiram_inte Mon, 02 Apr 2018 22:02:00 +0300 <![CDATA[GE Healthcare to sell IT unit to Veritas for $1.05 billion]]> GE Healthcare to sell IT unit to Veritas for $1.05 billionThe information technology business houses its financial management, ambulatory care and workforce management software assets, GE said in a statement. As part of the plan, the company is looking to sell its transportation unit, which makes railway locomotives and the iconic lighting division that makes bulbs for consumers. Morgan Stanley and Keval Health are GE's financial advisers, while Goldman Sachs & Co. and William Blair & Co advised Veritas Capital.


]]> http://so-l.ru/news/y/2018_04_02_ge_healthcare_to_sell_it_unit_to_veritas Mon, 02 Apr 2018 19:48:43 +0300 <![CDATA[China hits back at Trump tariffs - but US could launch new tech taxes this week]]> China hits back at Trump tariffs - but US could launch new tech taxes this weekUS stocks tumbled as China followed through on a threat to retaliate against American tariffs with border taxes of its own. America’s agriculture sector is in Beijing’s crosshairs as the world’s second biggest economy hit back at tariffs imposed on its sales of steel and aluminium into the US. The prospect of a trade war is in full focus as China imposed tariffs on 128 categories of imports from the US. There may be more to come as the US is expected to outline taxes on imports of technological goods from China this week. American farmers could suffer from the new taxes on their sales of pork into China Credit: Nati Harnik/AP The Chinese taxes of between 15pc, on 120 types of goods including fruit, and 25pc on commodities including pork, came into force on Monday. Shares on the broader S&P 500 index and the blue-chip Dow Jones Industrial Average fell by as much as 3pc after the announcement, hitting their lowest levels since early February, with a sell-off of tech stocks on the back of Donald Trump’s latest tweets against Amazon and ongoing concerns over Facebook adding to Wall Street’s nerves. However, economists said the taxes could have been worse and so hold out hope this will not result in a trade war. “The $3bn in tariffs that China imposed were in response to the steel and aluminium tariffs (which hit $6bn of Chinese imports), which I would charactarise as a fairly restrained response,” said Michael Pearce at Capital Economics. “Moreover, the US has shown it is willing to scale back tariffs in return for fairly modest concessions. One example of this was the “deal” on the Korea-US Free Trade Agreement, which exempted Korea from the steel tariffs without Korea giving up much.” Analysts said China's response has been modest, so far Credit: NICOLAS ASFOURI/AFP Both countries claim they are acting in the best interests of a fair and open trading system, with Donald Trump imposing the levies on the basis of ‘national security’, arguing that China has unfairly built up its own industrial sectors at the cost of America’s manufacturing base. As a result the tariff of 25pc on steel and 10pc on aluminium imports should restore the balance, the President hopes. By contrast China said those steps “violated the relevant rules of the World Trade Organization and did not comply with the ‘security exceptions’ provision” and so its own tariffs are designed to protect the integrity of the WTO and the global trading system. This shows China’s “advocacy and support for the multilateral trading system”, the Customs Tariff Commission of the State Council said. Other US fears are focused on the exclusion of many tech firms from the Chinese market, and concerns that US firms are forced to hand over intellectual property in exchange for access to the Chinese market. As much as $60bn-worth of Chinese-made tech imports could be affected by new levies seeking to combat this threat. From Bush 1 to present, our Country has lost more than 55,000 factories, 6,000,000 manufacturing jobs and accumulated Trade Deficits of more than 12 Trillion Dollars. Last year we had a Trade Deficit of almost 800 Billion Dollars. Bad Policies & Leadership. Must WIN again! #MAGA— Donald J. Trump (@realDonaldTrump) March 7, 2018 Analysts at Goldman Sachs have studied the technology row. “While the current trade dispute has unique elements such as cyber-theft and national security concerns, it also has an economic logic, one that is neither novel nor unique to the US-China relationship,” said analysts David Mericle and Daan Struyven, referring to previous international spats between firms which become national champions, such as aeroplane manufacturers. “In part for this reason, the dispute is unlikely to be fully resolved any time soon; after all, the Airbus-Boeing trade dispute has continued for decades. “Notions of free and fair trade become hazier when industries are highly concentrated and superstar firms earn monopoly rents.”


]]> http://so-l.ru/news/y/2018_04_02_china_hits_back_at_trump_tariffs_but_u Mon, 02 Apr 2018 19:38:12 +0300 <![CDATA[HeadHunter проведет IPO на бирже NASDAQ]]> http://so-l.ru/news/y/2018_04_02_headhunter_provedet_ipo_na_birzhe_nasdaq Mon, 02 Apr 2018 18:19:16 +0300 <![CDATA[HeadHunter планирует привлечь $250 млн в ходе IPO]]>

Москва, 2 апреля - "Вести.Экономика". Российская рекрутинговая компания HeadHunter подала документы в Комиссию по ценным бумагам и биржам (SEC) США в рамках подготовки к IPO, передает Reuters.

Среди поданных документов - проспект ценных бумаг, где указано, что компания для размещения американских депозитарных расписок (ADR) выбрала биржу Nasdaq.

Организаторами первоначального размещения назначены Morgan Stanley, Bank of America Merrill Lynch, Goldman Sachs, Credit Suisse, "ВТБ Капитал" и Sberbank CIB.

В Headhunter планируют привлечь $250 млн в ходе IPO.]]>
http://so-l.ru/news/y/2018_04_02_vestifinans_ekonomika_headhunter_plan Mon, 02 Apr 2018 17:53:00 +0300
<![CDATA[HeadHunter планирует привлечь $250 млн в ходе IPO]]> http://so-l.ru/news/y/2018_04_02_vesti_ekonomika_novosti_headhunter_plan Mon, 02 Apr 2018 17:53:00 +0300 <![CDATA[Headhunter планирует привлечь $250 млн в ходе IPO на бирже Nasdaq]]> http://so-l.ru/news/y/2018_04_02_headhunter_planiruet_privlech_250_mln_v Mon, 02 Apr 2018 16:42:00 +0300 <![CDATA[Goldman (GS) to be Sued Over Discrimination Against Women]]> Legal hassles keep mounting for Goldman Sachs GS with yet another suit over its discriminatory pay practices to be filed soon. Per Reuters, allegations for practicing pay discrimination against the bank’s female workforce will be filed as a group in a class-action lawsuit.

Allegations

The plaintiffs, including around 2,300 female employees of Goldman, got the U.S. District Judge Analisa Torres’ permission in Manhattan for filing the suit. Plaintiffs accused Goldman of restricting their career path through discrimination.

Female employees and vice presidents, who have worked in Goldman's investment banking, investment management and securities divisions since September 2004, as well as workers in New York City since July 2002, alleged that the bank paid them less as compared with men, as well as misrepresented their performance reviews and promotion options.

Previously, in September 2010, Goldman was accused by two women for discrimination and maintaining a "boys' club atmosphere". However, the judge permitted for pursuing discrimination claims only.

Per the judge, the plaintiffs provided "significant proof of discriminatory disparate treatment" at Goldman. Precisely, a report documented average pay of female vice presidents and associates were 21% and 8% lesser than their male colleagues, respectively.

Further, plaintiffs have proof representing that Goldman was "aware of gender disparities and gender bias," but did not adjust its policies.

"We obviously are very, very pleased," Kelly Dermody, the lawyer for the plaintiffs, said in a telephonic interview. "This case is eight years old, and sometimes it's worth the wait," added Dermody.

Meanwhile, Goldman’s spokesperson was unavailable for comments.

Conclusion

Legal headwinds have been mounting for banks. These firms continue to face several cases and probes regarding their business conduct preceding the financial crisis. Though the banks have resolved many litigation issues over the past years, rising legal hassles keep dragging the companies' financials downward.

Goldman’s performance over the past six months reflects investors’ disappointment. Shares of this Wall Street bank have gained 4.7%, significantly underperforming the industry’s rally of 12.6%.


 

Currently, Goldman carries a Zacks Rank #3 (Hold).

Stocks to Consider

BankUnited, Inc. BKU has been witnessing upward estimate revisions for the last 30 days. Further, the stock jumped more than 12% over the past six months. It currently carries a Zacks Rank of 2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Lakeland Financial Corporation LKFN has been witnessing upward estimate revisions for the last 90 days. Also, the company’s shares have risen nearly 7.6% over the past year. It currently carries a Zacks Rank #2.

First Financial Bancorp. FFBC has been witnessing upward estimate revisions for the last 60 days. Over the last six months, the company’s share price has been up more than 10%. It carries a Zacks Rank of 2.

Can Hackers Put Money INTO Your Portfolio?

Earlier this month, credit bureau Equifax announced a massive data breach affecting 2 out of every 3 Americans. The cybersecurity industry is expanding quickly in response to this and similar events. But some stocks are better investments than others.

Zacks has just released Cybersecurity! An Investor’s Guide to help Zacks.com readers make the most of the $170 billion per year investment opportunity created by hackers and other threats. It reveals 4 stocks worth looking into right away.

Download the new report now>>


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
BankUnited, Inc. (BKU): Free Stock Analysis Report
 
First Financial Bancorp. (FFBC): Free Stock Analysis Report
 
Lakeland Financial Corporation (LKFN): Free Stock Analysis Report
 
The Goldman Sachs Group, Inc. (GS): Free Stock Analysis Report
 
To read this article on Zacks.com click here.
 
Zacks Investment Research]]>
http://so-l.ru/news/y/2018_04_02_goldman_gs_to_be_sued_over_discriminat Mon, 02 Apr 2018 16:25:00 +0300
<![CDATA[Wall Street. Акции на премаркете]]> (компания / тикер / цена / изменение ($/%) / проторгованый объем)


ALCOA INC.

AA

44.55

-0.41(-0.91%)

745

Amazon.com Inc., NASDAQ

AMZN

1,424.50

-22.84(-1.58%)

54338

Apple Inc.

AAPL

167.57

-0.21(-0.13%)

135173

Barrick Gold Corporation, NYSE

ABX

12.6

0.15(1.20%)

3500

Boeing Co

BA

324

-3.88(-1.18%)

12073

Caterpillar Inc

CAT

145.4

-1.98(-1.34%)

1218

Chevron Corp

CVX

114.45

0.41(0.36%)

777

Cisco Systems Inc

CSCO

42.55

-0.34(-0.79%)

12302

Citigroup Inc., NYSE

C

68.1

0.60(0.89%)

138659

Deere & Company, NYSE

DE

155

-0.32(-0.21%)

674

Exxon Mobil Corp

XOM

74.4

-0.21(-0.28%)

2628

Facebook, Inc.

FB

158.62

-1.17(-0.73%)

160454

FedEx Corporation, NYSE

FDX

240

-0.11(-0.05%)

346

Ford Motor Co.

F

11.06

-0.02(-0.18%)

9998

Freeport-McMoRan Copper & Gold Inc., NYSE

FCX

17.72

0.15(0.85%)

23101

General Electric Co

GE

13.41

-0.07(-0.51%)

42047

General Motors Company, NYSE

GM

36

-0.34(-0.94%)

1117

Goldman Sachs

GS

249.97

-1.89(-0.75%)

2265

Google Inc.

GOOG

1,028.00

-3.79(-0.37%)

6316

Hewlett-Packard Co.

HPQ

22

0.08(0.37%)

201

Home Depot Inc

HD

177.7

-0.54(-0.30%)

624

Intel Corp

INTC

51.64

-0.44(-0.84%)

57971

International Business Machines Co...

IBM

151.74

-1.69(-1.10%)

231

Johnson & Johnson

JNJ

129.57

1.42(1.11%)

572

JPMorgan Chase and Co

JPM

109.7

-0.27(-0.25%)

10059

McDonald's Corp

MCD

157.7

1.32(0.84%)

7185

Merck & Co Inc

MRK

54.14

-0.33(-0.61%)

996

Microsoft Corp

MSFT


Источник: FxTeam]]> http://so-l.ru/news/y/2018_04_02_wall_street_akcii_na_premarkete Mon, 02 Apr 2018 15:46:19 +0300 <![CDATA[5 Juicy Dividend Stocks to Ride Out a Dicey April]]> April has time and again proved to be favorable for stocks. But this time around, April has arrived during midterm election, which usually spells a rough phase for stocks.

Earnings related volatility could spike further in April. Unabated trade tensions, possibilities of two or more rate hikes by the Fed this year, high profile departures in the Trump administration and the real impact of the tax overhaul policy are laying the base for a tumultuous earnings season. Long-dormant volatility, by the way, made a comeback last month.

With the month expected to be rough, investing in sound dividend paying stocks seems judicious. Such stocks provide steady income and cushion one’s portfolio against market risks.

Midterm Election Years Spell Trouble

The Stock Trader’s Almanac noted that April has traditionally been a strong month for stocks, going back to World War II. The Dow Jones, the S&P 500 and the Nasdaq Composite gained an average of 1.9%, 1.5% and 1.4%, respectively.

But, such a rise wouldn’t be enough to drive the indices back to record territory. The Dow is already 9.4% below its all-time record high, the S&P 500 is off 8.1% and the Nasdaq is down 7.5%. Lest we forget, all the major bourses have already seen the second straight monthly drop and the second steepest monthly fall for the tech-laden Nasdaq since January 2016.

A bigger concern, in fact, is that April comes during a mid-term election year. In such years, historically, the second quarter is weak for the broader market, as is the third quarter. In the second quarter, the market typically gains 1.8% since World War II but loses 2.2% during such years. The third quarter also isn’t much better than the second in election years.

Volatility Likely to Stay

Another concern for market pundits is earnings related volatility. Markets are gearing up for first-quarter earnings results this month. Investors seek clarity on the impact of protectionist trade policies and higher interest rates. After all, these factors will play a pivotal role in determining first-quarter earnings results.

According to The Goldman Sachs Group, Inc GS, “the options market is pricing in earnings volatility mostly in April week 4.” The technology sector, in particular, will be more susceptible to erratic movements. Goldman noted that almost 33% of April preannouncements are done by tech companies. Techs have already taken a beating following the backlash over Facebook, Inc’s FB handling of user data (read more: Facebook Is a Screaming Buy Despite Data Scandal).

Wall Street’s “fear gauge”, the Cboe Volatility Index (VIX) is already up 81% in the first quarter, its biggest quarterly gain since 2011, according to the WSJ Market Data Group. The index last traded at 22.68, above its long-term average of 20. The VIX reflects traders’ collective anticipation for volatility in the upcoming 30-day period.

Factors Intensifying Instability

Trade-related fears increased after Trump imposed duties on foreign aluminum and steel, and levied tariffs on China products. Beijing retaliated by targeting 128 U.S. products with an import value of $3 billion. A full-blown trade should unnerve investors as it might deal a heavy blow to economies and hurt corporate profits.

Amid all these, the Fed has hiked rates by a quarter-percentage point and projected a steeper path of rate hikes in 2019 and 2020. This hasn’t gone down well with investors as we all know that they had piled up on U.S. stocks with the notion that quantitative easing will help the domestic economy grow at a better rate than emerging economies. After all, rate hikes will raise borrowing costs, eventually denting corporate profits and affecting the U.S. economy.

April Could be Cruel: Buy 5 Top Dividend Stocks Now

With so many concerns plaguing investors’ minds, dividend paying stocks are tempting options at the moment. The best dividend stocks pay out a healthy yield and have strong prospects, and are less susceptible to market gyrations. Their large customer base, sustainable business model, long track of profitability and strong liquidity allow them to offer sizable yields on a regular basis, regardless of market direction.

While finding companies that offer these traits isn’t easy, they certainly do exist. To help you find these businesses, we have selected five dividend payers who have a Zacks Rank #1 (Strong Buy) or 2 (Buy) and a VGM Score of A or B. Here V stands for Value, G for Growth and M for Momentum and the score is a weighted combination of these three metrics. Such a score allows you to eliminate the negative aspects of stocks and select winners.

Pfizer Inc. PFE develops, manufactures, and sells healthcare products. The company has a Zacks Rank #1 and a VGM Score of B. Pfizer has a dividend yield of 3.8%, while its five-year average dividend yield is pegged at 3.5%. The Zacks Consensus Estimate for its current-year earnings rose 6.5% in the last 60 days. The stock is expected to return 11.7% this year, higher than the industry’s projected return of 9.8%.

Unique Fabricating, Inc. UFAB engineers and manufactures multi-material foam, rubber, and plastic components. The company has a Zacks Rank #2 and a VGM Score of A. Unique Fabricating has a dividend yield of 7.1%, while its five-year average dividend yield is pegged at 5.3%. The Zacks Consensus Estimate for its current-year earnings rose 5.1% in the last 60 days. The stock is expected to return 20.3% this year, better than the industry’s projected return of 16.6%.

Guess', Inc. GES designs, markets, distributes, and licenses lifestyle collections of apparel and accessories for men, women, and children. The company has a Zacks Rank #1 and a VGM Score of B. Guess' has a dividend yield of 4.3%, while its five-year average dividend yield is 4.6%. The Zacks Consensus Estimate for its current-year earnings rose 14.3% in the last 60 days. The stock is expected to return 37.1% this year, higher than the industry’s projected return of 14.2%. You can see the complete list of today’s Zacks #1 Rank stocks here.

Nordstrom, Inc. JWN is a fashion retailer that provides apparel, shoes, cosmetics, and accessories for women, men, young adults, and children. The company has a Zacks Rank #2 and a VGM Score of A. Nordstrom has a dividend yield of 3.1%, while its five-year average dividend yield is 2.5%. The Zacks Consensus Estimate for its current-year earnings rose 9.3% in the last 60 days. The stock is expected to return 15.5% this year, higher than the industry’s projected return of 14.3%.

Ciner Resources LP CINR engages in the trona ore mining and soda ash production businesses. The company has a Zacks Rank #2 and a VGM Score of B. Ciner Resources has a dividend yield of 8.1%, while its five-year average dividend yield is 7.6%. The Zacks Consensus Estimate for its current-year earnings rose 10.9% in the last 60 days. The stock is expected to return 22.7% this year, better than the industry’s projected return of 11.3%.

Can Hackers Put Money INTO Your Portfolio?

Earlier this month, credit bureau Equifax announced a massive data breach affecting 2 out of every 3 Americans. The cybersecurity industry is expanding quickly in response to this and similar events. But some stocks are better investments than others.

Zacks has just released Cybersecurity! An Investor’s Guide to help Zacks.com readers make the most of the $170 billion per year investment opportunity created by hackers and other threats. It reveals 4 stocks worth looking into right away.

Download the new report now>>


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
Facebook, Inc. (FB): Free Stock Analysis Report
 
Pfizer Inc. (PFE): Free Stock Analysis Report
 
Unique Fabricating, Inc. (UFAB): Free Stock Analysis Report
 
The Goldman Sachs Group, Inc. (GS): Free Stock Analysis Report
 
Ciner Resources LP (CINR): Free Stock Analysis Report
 
Nordstrom, Inc. (JWN): Free Stock Analysis Report
 
Guess?, Inc. (GES): Free Stock Analysis Report
 
To read this article on Zacks.com click here.
 
Zacks Investment Research]]>
http://so-l.ru/news/y/2018_04_02_5_juicy_dividend_stocks_to_ride_out_a_di Mon, 02 Apr 2018 15:19:00 +0300
<![CDATA[Goldman Sachs ухудшил прогнозы для японского фондового рынка]]> http://so-l.ru/news/y/2018_04_02_goldman_sachs_uhudshil_prognozi_dlya_yapons Mon, 02 Apr 2018 13:12:10 +0300 <![CDATA[In Unprecedented Move, China Plans To Pay For Oil Imports With Yuan Instead Of Dollars]]> Just days after Beijing officially launched  Yuan-denominated crude oil futures (with a bang, as shown in the chart below, surpassing Brent trading volume) which are expected to quickly become the third global price benchmark along Brent and WTI, China took the next major step in the challenging the Dollar's supremacy as global reserve currency (and internationalizing the Yuan) when on Thursday Reuters reported that China took the first steps to paying for crude oil imports in its own currency instead of the US Dollars.

A pilot program for yuan payment could be launched as soon as the second half of the year and regulators have already asked some financial institutions to "prepare for pricing crude imports in the yuan", Reuters sourcesreveal.

According to the proposed plan, Beijing would start with purchases from Russia and Angola, two nations which, like China, are keen to break the dollar’s global dominance. They are also two of the top suppliers of crude oil to China, along with Saudi Arabia.

A change in the default crude oil transactional currency - which for decades has been the "Petrodollar", blessing the US with global reserve currency status - would have monumental consequences for capital allocations and trade flows, not to mention geopolitics: as Reuters notes, a shift in just a small part of global oil trade into the yuan is potentially huge. "Oil is the world’s most traded commodity, with an annual trade value of around $14 trillion, roughly equivalent to China’s gross domestic product last year." Currently, virtually all global crude oil trading is in dollars, barring an estimated 1 per cent in other currencies. This is the basis of US dominance in the world economy.

However, as shown in the chart below which follows the first few days of Chinese oil futures trading, this status quo may be changing fast.

Superficially, for China it would be a matter of nationalistic pride to see oil trade transact in Yuan: "Being the biggest buyer of oil, it’s only natural for China to push for the usage of yuan for payment settlement. This will also improve the yuan liquidity in the global market,” said one of the people briefed on the matter by Chinese authorities.

There are other considerations behind the launch of the Yuan-denominated oil contract as Goldman explains:

  • A commercial benchmark and hedging tool. Until now, Chinese oil imports were based on FOB benchmarks, with long-term procurement contracts settling off Platts Oman/Dubai or Dated Brent. The INE contract has therefore the potential to become the pricing reference for CIF China crude oil, enabling corporate financial hedging. Its warehouse structure is however likely to limit its use for physical crude delivery and may in fact at times reduce its hedge efficiency.
  • A new investment vehicle for onshore investors. The majority of China commodity futures trading volumes are from retail investors, yet these had until now little ability to trade oil futures. China’s capital control was the main bottleneck  to trading contracts like Brent as authorities only allow $50,000 outflow a year per person. While several petrochemical and bitumen contracts already trade in China, INE will be the first contract for crude oil, likely drawing significant interest.
  • Direct access to China’s commodity markets for offshore investors. China offers deep and liquid commodity markets to its onshore investors. Due to China’s tight capital controls, however, foreign investors have so far only been able to trade these through qualified onshore subsidiaries. The INE contract opens up the first channel for offshore investors to trade in its onshore commodity market, with both the USD deposit and capital gains transferable back to offshore accounts. The government further announced last week that it would waive income taxes for foreign investors trading these new contracts for the first three years. The obligation to trade in Yuan will also add a currency risk exposure to offshore investors. We illustrate in Exhibit 6 a likely template (amongst others) of how overseas investors will be able to access INE liquidity.

The danger, of course, is that such a shift would also boost the value of the Yuan, hardly what China needs considering it was just two a half years ago that Beijing launched a controversial Yuan devaluation to boost its exports and economy.

Still, in light of the relative global economic stability, Beijing may be willing to take the gamble on a stronger Yuan if it means greater geopolitical clout and further acceptance of the renminbi.

Which is why restructuring oil fund flows may be the best first step: as of this moment, China is the world’s second-largest oil consumer and in 2017 overtook the United States as the biggest importer of crude oil; its demand is a key determinant of global oil prices.

If China's plan to push the Petroyuan's acceptance proves successful, it will result in greater momentum across all commodities, and could trigger the shift of other product payments to the yuan, including metals and mining raw materials.

Besides the potential of giving China more power over global oil prices, "this will help the Chinese government in its efforts to internationalize yuan," said Sushant Gupta, research director at energy consultancy Wood Mackenzie. In a Wednesday note, Goldman Sachs said that the success of Shanghai’s crude futures was “indirectly promoting the use of the Chinese currency (which, however as noted above, has negative trade offs as it would also result in a stronger Yuan, something the PBOC may not be too excited about).

Meanwhile, China is wasting no time, and Unipec, the trading arm of Asia’s largest refiner Sinopec already signed a deal to import Middle East crude priced against the newly-launched Shanghai crude futures contract, which incidentally is traded in Yuan.

The bottom line here is whether Beijing is indeed prepared and ready to challenge the US Dollar for the title of global currency hegemon. As Rueters notes, China’s plan to use yuan to pay for oil comes amid a more than year-long gradual strengthening of the currency, which looks set to post a fifth straight quarterly gain, its longest winning streak since 2013.

In a sign that China's recent Draconian capital control crackdowns have sapped market confidence in a freely-traded Yuan, the currency retained its No.5 ranking as a domestic and global payment currency in January this year, unmoved from a year ago, but its share among other currencies fell to 1.7 percent from 2.5 percent, according to industry tracker SWIFT.

A slew of measures put in place in the last 1-1/2 years to rein in capital flowing out of the country amid a slide in yuan value has taken off some its shine as a global payment currency.

But the yuan has now appreciated 3.4 percent against the dollar so far this year, with solid gains in recent sessions.

“For PBOC and other regulators, internationalization of the yuan is clearly one of the priorities now, and if this plan goes off smoothly then they can start thinking about replicating this model for other commodities purchases,” said a Reuters source.

Still, it will be a long and difficult climb before the Yuan can challenge the dollar and for Beijing to shift the bulk of its commodity purchases to the yuan because of the currency’s illiquidity in forex markets. According to the latest BIS Triennial Survey, nearly 90% of all transactions in the $5 trillion-a-day FX markets involved the dollar on one side of a trade, while only 4% use the yuan.

* * *

Still, not everyone is convinced that the new Yuan-denominated contract will create a "petro-yuan" as the following take from Goldman highlights:

The launch of the INE contract is not just about oil, as it will also be the first Yuan denominated commodity contract tradable by offshore investors. Such a set-up meets the PBOC’s monetary policy committee goal to raise the profile of its currency in the pricing of commodities. It has raised however the question of whether the INE contract is an incremental step in achieving the currency reserve status for the Yuan. We do not believe so.

While the INE launch does represent an additional step in the CNY internationalization, the CNY denomination of the INE contract does not in itself imply CNY investments. The INE contract does not represent an opening of China’s capital accounts since foreign deposits operate in a closed circuit, deposited in designated accounts and not to be used to purchase other domestic assets. In practice, the collateral deposit and any capital gains can be transferred back to offshore accounts. The potential for greater foreign ownership of Chinese assets is therefore not impacted by CNY oil invoicing and would require instead oil exporters to recycle their proceeds in local assets, for example. The incentive to do this has not changed with the introduction of the INE contracts. In particular, most Middle East oil producers still have currencies pegged to the dollar and limited ability to hedge CNY exposure.

Whether or not Goldman is right remains to be seen, however it is undeniable that a monumental change is afoot in global capital flows, where the US - whether Beijing wants to or not - will soon be forced to defend its currency status as oil exporters (and investors in this highly financialized market) will now have a choice: go with US hegemony, or start accepting Yuan in exchange for the world's most important commodity.

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http://so-l.ru/news/y/2018_04_01_in_unprecedented_move_china_plans_to_pa Sun, 01 Apr 2018 22:40:23 +0300