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Bewst news invest, Great Britain, London, OH (2026)

12/12/2022

Carbon lending company Rubicon Carbon is set up by American alternative asset manager TPG.

Rubicon Carbon, which will help companies offset their emissions, has been launched as a separate company. Representatives of Rubicon Carbon said they expect to raise capital in the amount of $1 billion.

Backed by an initial $300 million from TPG, Rubicon aims to find and fund projects that lock in climate-damaging carbon emissions.

Bank of America and JetBlue Ventures are among the co-investors. They help get carbon credits and fund projects

Energy Capital Management is also expected to contribute to fundraising before the end of the year, Rubicon said in a statement.

12/12/2022

The Japanese company has signed a $1.44 billion green loan agreement to fund investments in zero-emission vehicles, Nissan Motor Co said.

The report says that the syndicated loan was arranged by Mizuho Bank and MUFG Bank with contract terms of five and seven years.

The funds will be used for research and development of zero-emission vehicles, components for electric vehicles and other carbon-neutral initiatives, Nissan said.

12/11/2022

The 30-year deal, announced Monday, marks internet pioneer Yahoo's big bet on digital advertising as industry giants from Alphabet-owned Google to Meta Platforms Inc grapple with an inflation-driven slump in ad spending.

The Yahoo-Taboola partnership is expected to bring in $1 billion in annual revenue. Yahoo will also get a seat on Taboola's board of directors.

Yahoo, owned by private equity firm Apollo Global Management, has nearly 900 million monthly active users thanks to a collection of sites such as Yahoo Finance, Yahoo Sports and TechCrunch.

Taboola, whose shares are up 60% on the news, links to advertiser-sponsored articles known as native ads on many websites such as CNBC and NBC News.

Under the terms of the deal, Taboola will have exclusive rights to sell native ads on Yahoo's sites.

The advertising company expects the agreement to boost its revenue and operating profit.

The deal, approved by the companies' boards of directors, is expected to close in the first quarter of 2023.

12/11/2022

Asset management division of the Australian company Macquarie Group Ltd. has completed its second series fundraising for its Super Core Infrastructure Fund. The fund has received commitments from investors including insurers, sovereign wealth funds and family offices from 22 countries.

“Grid infrastructure is at the heart of our daily lives and will play a central role in the clean energy transition,” said Martin Bradley, Head of Europe and the Middle East, Macquarie Asset Management.

Macquarie is actively buying network infrastructure and has already invested heavily from its core fund. Over the past 18 months, an agreement has been reached to buy a 60% stake in National Grid Plc's gas transmission business in a £9.6bn deal, acquire the German Thyssengas network and acquire Greek distributor Hellenic Electricity.

“We look forward to working closely with our portfolio companies and clients to proactively manage the fund's existing investments while driving a strong stream of new opportunities,” Bradley said.

Infrastructure investors are attracted to network assets such as electricity grids and gas transmission systems because of their ability to generate stable long-term returns.

12/10/2022

Italy's second-largest bank, UniCredit, bought back €1 billion worth of its own shares, fulfilling its plans for the current year.

UniCredit received supervisory approval for a second buyback in September, when the European Central Bank (ECB) deemed its capital reserves strong enough to weather the contraction as Europe's economy heads into recession.

Since then, the economic outlook has deteriorated and the ECB has stepped up scrutiny of banks' payment plans to ensure they properly factor in recession risks.

The latest share buyback of UniCredit, which represents 4.3% of its capital, will reduce the number of its shares, thereby boosting earnings per share.

The bank did this maneuver for the second time, the first buyback in the amount of 7.4% of the capital took place at the beginning of the year.

The bank's CEO, Andrea Orsel, has turned down a possible takeover of Monte dei Paschi di Siena, which would help boost UniCredit's domestic market share. Instead, he bet on capital allocation to drive up the bank's share price.

12/10/2022

Genting Bhd, a major casino operator, plans to sell some of its Miami real estate and hopes to raise more than $1 billion for it to focus on other investment opportunities such as New York.

The 16-acre (6.5 ha) site that once housed the Miami Herald newspaper is one of the largest undeveloped parcels of land along the city's waterfront. Located on Biscayne Bay, across the street from Miami Beach, this hotel is close to arts and entertainment venues.

“Over the coming months, we will be pooling our resources to open a full-fledged commercial casino in New York and expand our already huge business in Las Vegas,” said Robert DeSalvio, president of Genting Americas East.

Genting, which owns casino resorts in Malaysia, Singapore and the United States, purchased real estate in Florida and some properties nearby for about $236 million in 2011.

Genting plans to open a $100 million arcade parlor in Newburgh, New York, next month.

12/09/2022

Octopus Energy Group announces the acquisition of UK-based solar energy developer Zestec Renewable Energy.

Zestec is developing over 160MW of new solar energy supply in the UK to be sold to solar panel hosts through Power Purchase Agreements (PPAs). This will enable small and medium enterprises, public sector organizations such as schools and local governments, and large corporations to benefit from self-generated green energy.

Through a fund managed by Octopus Energy Generation, more than 100 facilities from 100 kW to 7 MW will be built by 2027. The clean energy generated will help reduce gas dependency and emissions, and is equivalent to taking 40,000 gasoline cars off the road.

Octopus is one of the largest renewable energy investors in Europe and has been investing in solar energy since 2010. The deal builds on Octopus' existing partnership with Zestec. The acquisition of Zestec will increase the solar assets operated by Octopus by 11%.

The CEO of Octopus Energy Generation said: “There is a significant untapped opportunity in the UK to produce cheaper green energy from the rooftops of businesses. This space is growing rapidly and will help improve energy security and reduce energy bills, while also allowing companies to reduce their carbon footprint.”

12/09/2022

Corteva said the Stoller acquisition reinforces its commitment to providing farmers with biological tools that complement new farming practices and help them meet changing market expectations.

The deal is expected to close in the first half of 2023, subject to regulatory approval.

Corteva CEO Chuck Magro noted that biologics provide farmers with environmentally friendly tools that complement traditional plant protection. Together, they contribute to addressing global challenges related to food security and climate change. Stoller is a leader in the biologics industry, given its commercial footprint and market expansion potential, providing attractive growth and operating margins.

According to experts' forecasts, the biopreparations market will annually grow at a high rate until 2035, covering in the future about 25% of the total market for plant protection products.

Corteva Agriscience is a publicly traded, global, all-agriculture company providing farmers around the world with the most comprehensive portfolio in the industry, including a balanced and diverse selection of seeds, crop protection products, and digital solutions focused on maximizing productivity to improve yields and profitability.

12/08/2022

Saudi Crown Prince Mohammed bin Salman, along with an investment company run by the former chief executive officer of Barclays PLC, will become investors in the new investment bank Credit Suisse.

The Wall Street Journal reports that the prince is considering investing about $500 million in CS First Boston. Credit Suisse has received more offers from investors interested in its new business.

Credit Suisse has received commitments from other firms in addition to a pledged $500 million investment, according to the chairman of the Swiss bank's board of directors.

Credit Suisse is spinning off the New York-based bank as a separate business as part of a reorganization following multiple scandals, regulatory scrutiny and massive losses.

12/08/2022

The Bank for International Settlements (BIS) has warned that pension funds and other "non-banking" financial companies currently have more than $80 trillion in hidden off-balance sheet dollar debt in the form of currency swaps.

Having repeatedly urged central banks to take decisive action to curb inflation, this time the BIS has adopted a more measured tone.

Currency swap markets, where, for example, a Dutch pension fund or a Japanese insurance company borrows in dollars and lends in euros or yen at the spot stage and then repays them, have a number of problems.

They faced funding cuts both during the global financial crisis and again in March 2020 when the COVID-19 pandemic unleashed chaos that required leading central banks like the US Federal Reserve to intervene with dollar swap lines.

According to the BIS, an estimate of more than $80 trillion in "hidden" debt exceeds the combined holdings of dollar Treasury bills and commercial paper, while transactions in April were almost $5 trillion a day, two-thirds of the world's daily foreign exchange turnover.

12/07/2022

Harsha Shetty, chief executive officer of Jindal Shadeed Iron and Steel LLC, said the company has the necessary permits to allocate land for the project, which can process 5 million tons of steel per year. Construction of the plant in Duqma, Oman, should be completed by 2026, he said.

As more and more consumers strive to achieve zero emissions, steelmakers around the world are investing heavily in decarbonizing their operations. It is widely believed that green hydrogen, produced using water and renewable electricity, will play a critical role in decarbonizing heavy industry.

At the same time, rising energy prices for markets such as Europe have affected production volumes and forced a focus on alternative sources for the sector.

About 30-40% of the output from the new Jindal Shadeed plant will be consumed in Oman and other GCC countries, with the remainder exported to meet the growing demand for green steel in global markets, Shetty said. The plant will service cars, wind turbines and consumer goods in Europe, Japan and other countries, he said.

12/07/2022

Commodity trader Trafigura Group has secured a $3 billion loan from the German government for gas supplies as Berlin ramps up efforts to protect natural resources following Russia's invasion of Ukraine.

Trafigura made the first delivery on 1 November.

This is the second deal of its kind in recent months, after Trafigura announced in October that it had received an $800 million loan to supply metals to Germany. Governments, historically major buyers of Russian energy, grains and metals, are increasingly turning to trading companies to find alternatives in international markets.

Germany has had to rethink its energy policy as the war in Ukraine forced it to end its long-standing dependence on cheap Russian gas.

The country is increasingly concerned about the supply of critical materials, such as metals, that underpin the technologies needed to move away from fossil fuels. The government is considering setting up a state fund to look for alternative suppliers to China.

Germany offers support to commodity traders through a program known as unrelated loan guarantees, administered through Euler Hermes AG, an export credit arm now part of Allianz SE.

For trading houses like Trafigura, deals are a key means of obtaining funding at a time when high commodity prices and extreme volatility have increased their need for credit and made some banks reluctant to expand their positions in the sector.

The loan means that Trafigura is committed to supplying "significant volumes of gas to the European gas network and ultimately to Germany over the next four years," the statement said. Trafigura will supply gas to SEFE Securing Energy for Europe GmbH, a former subsidiary of PJSC Gazprom, which was recently nationalized by the German government.

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