U.S. shale companies were failing by the dozen. Its shares closed down 7.3% in Tokyo.Hitachi has been helping customers automate and modernize manufacturing through its Lumada IoT platform, and technology and so-called smart life businesses now account for roughly 40% of revenues. “Investments in SPACs and similar entities are subject to a variety of risks beyond those associated with other equity securities,” the filing says. Yale-educated Dick Cavett established his reputation as the most erudite of American talk show hosts in the late 1960s and early '70s. April 2014 auf HBO ausgestrahlt. Both data are published with a one-month lag.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P. (Bloomberg) -- Mergers and acquisitions are off to their fastest start to a year ever in Canada, driven by a combination of cheap financing for buyers, high valuations for sellers and an improving economic outlook that’s encouraging companies to make major moves.Canadian companies have been involved this year in 1,168 deals with a total value of $115 billion, including assumed debt, according to data compiled by Bloomberg. (Bloomberg) -- A $40 million potential fraud that threatens to wipe out a chunk of OSB Group Plc’s profits is linked to a client with a niche business line: piano leasing.The British lender has filed to place Duet Capital (Holdings) Ltd. into administration, a form of U.K. bankruptcy, and contacted the Financial Conduct Authority about the suspected fraud, according to a corporate filing and people familiar with the matter. The show was also the most-watched amongst adults between the ages of 25 and 54, according to CBS citing data from the Nielsen live “Most Current” ratings through the week of May 15, 2020. “We could still be days away from the canal being completely free.”The reopening kicks off a new wave of stress on supply chains -- the intertwined network of ships, ports, trucks, trains and warehouses that shuttle products from a factory on one side of the planet to a retail shelf or production line on the other. It’s privately owned and funded by Canada’s CPP Investment Board and Partners Group.CPPIB said it expects $3.8 billion in net proceeds from selling its 45% interest in the company. What Happened: In an updated filing issued last week, Ark Funds is providing a warning on SPACs and also a possible new investment strategy. It was a nadir that would be reached again only in March 2020, when the Saudis launched another price war, this time targeting Russia, just as the coronavirus pandemic sapped global demand.When Dudley arrived in the Swiss ski resort of Davos for the World Economic Forum on Jan. 21, 2016, the industry was braced for more doom and gloom. The legal fight that followed exposed the riches of Big Oil trading. Another executive, who also was involved, put the payout at about $150 million to $200 million, declining to provide an exact figure. He ought to have had as much reason to panic as anyone in the rest of his industry. CBS's "The Late Show with Stephen Colbert" has captured the title of the most-watched late-night program during the 2019-2020 season, according to Nielsen. For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P. (Bloomberg) -- Australia’s AGL Energy Ltd., the nation’s biggest emitter, plans to split off its coal-fired generation into a separate unit as increased renewables generation upends the nation’s electricity landscape.AGL’s decision to separate its fossil-fuel plants is one of the most radical responses yet to Australia’s increased wind and solar generation, which undermined power prices and hurt the company’s profitability. Outside their ­oligopoly, there was very little left to buy or sell.BP was emblematic of the era. With just 36 traders in Nassau, Shell reported profits in the Bahamas of $847.5 million in 2019. The filing also says Ark Funds can own warrants. Colbert topped NBC's “The Tonight Show Starring Jimmy Fallon" by more than 1.55 million viewers, according to CBS. The trade “made a lot of money,” says a former BP executive with direct knowledge of it. That’s physical trading. CBS's "The Late Show with Stephen Colbert" has captured the title of the most-watched late-night program during the 2019-2020 season, according to Nielsen.. The acquisition -- targeted for completion by end-July -- will be one of the largest ever for Hitachi, a storied Japanese name that grew out of electronics into a railway to electrical equipment conglomerate that’s begun investing in providing gear for the so-called internet of things. Bloomberg Markets pieced together the story of these lucrative but secretive operations through interviews with more than two dozen current and former traders and executives, some of which were conducted for The World for Sale, our new book on the history of commodity trading.The oil majors trade in physical energy markets, buying tankers of crude, gasoline, and diesel. (Bloomberg) -- India’s consumption demand and business activity looked steady in February, although chances of a strong recovery appeared doubtful after a sharp surge in virus cases and the increasing risk of renewed lockdowns.The dial on a gauge measuring so-called animal spirits showed activity cruising at a steady pace for the fifth straight month, with all eight high-frequency indicators tracked by Bloomberg News holding their ground last month. Canadian Pacific’s cash-and-stock offer values the railway at $275 a share.Rogers was also stymied in previous attempts for a transformative deal. A spokeswoman for the FCA also didn’t comment. USA Up All Night (also known as Up All Night and Up All Night with Rhonda Shear) is an American cable television series that aired weekly on Friday and Saturday nights on the USA Network.The show aired from 1989 to 1998. The firm spent Monday trying to calm its shell-shocked staff while facing heat from investors already reeling from the bank’s exposure to Greensill Capital’s collapse earlier this month.March’s blowups may wipe out more than a year of profits for the bank and threaten its stock buyback plans, as well as adding to the reputational hit from other missteps. Shell still had contracts to supply jet fuel, however, so the company was left with a big short position: It would have to buy jet fuel in the market to deliver to its customers, whatever the price, if the company’s traders were wrong about the pandemic. In a virtual meeting with investors in October 2020, Shell’s van Beurden described the company’s trading unit as “absolutely core to the success of our company.” Even Exxon, which long sneered at trading as an unnecessary distraction, has changed its stance, hiring experienced oil traders to start making bets with the company’s money.As BP shifts its investments from fossil fuels to renewable energy, its traders will help it juice the relatively low returns on those investments, Bernard Looney, who last year succeeded Dudley as CEO, said in a presentation to investors in 2020. They can’t be repositioned to where demand pops up or quickly shifted away from regions where economic activity is slow. In addition, the adviser called for investors to not grant discharge to the board and executive management in order to retain their rights to file legal action against them.The hits from Archegos and Greensill have spoiled a plan by Gottstein to start the year with a clean slate. Schnemänner . On one occasion in 2016, for example, Shell bought roughly 70% of the cargoes of North Sea crude available for a particular month, triggering wild price gyrations while squeezing out other traders who privately complained to Shell.At times, Big Oil traders have broken the rules outright. The number was arrived at by using the three-month weighted average to smooth out volatility in the single-month scores.The February reading reflects gains in the economy at a time when virus cases were on the wane. The updated filing does say that Ark Funds may buy into SPACs that haven’t decided what business they will own. Developed as a tool to help BlackRock measure its own financial risk, the firm now sells the software to rival asset managers and other institutions.Aladdin has become a prized product at the world’s largest asset manager. The unit, called Coremont LLP, has grown to service more than $50 billion in assets for mainly alternative money managers trading everything from stocks and bonds to cryptocurrencies, Jev Mehmet, its chief executive officer, said in an interview.“What was built is scalable, so we thought there was definitely mileage in extending the platform to the wider investment community,” he said, adding that he expects to double assets and clients in three years.From offering bespoke investment strategies and prized research to letting external clients use the plumbing that drives trading, hedge funds have been laboring to ease pressure on revenues as investors demand a better deal from an industry notorious for charging high fees.For Brevan Howard, the additional revenue -- a few basis points of every $100 that goes through Coremont -- is a vital source of fees after it saw a vast majority of its hedge fund assets flee since the peak in 2013. It’s pitch-black outside, you have a cable subscription, and you’re bored. Their book, The World for Sale: Money, Power, and the Traders Who Barter the Earth’s Resources, was published in the U.K. in February by Random House Business and in the U.S. in March by Oxford University Press. Late night television in the United States is the block of television programming airing after 11:00 p.m. and usually through 2:00 a.m. Shell started life in London in the 19th century as an oil trader—“Shell” Transport & Trading Co.—and only later got into oil production. The Late Show with Stephen Colbert. Some of the leasing deals have been backed by loans made by Close Brothers Group Plc, a London-based merchant bank. Late Night hosts aren't just comedians anymore, they are household names. And, unknown to all but a few company insiders, BP’s traders had spotted, in the teeth of the oil price collapse, an opportunity.Over the course of 2015, Dudley had acquired a reputation as the oil industry’s Cassandra. Plus, by the time you get out of the show—the Strip is not congested! … Stephen Colbert brings his signature satire and comedy to The Late Show with Stephen Colbert, the #1 show in late night, where he talks with an eclectic mix of guests about what is new and relevant in the worlds of politics, entertainment, business, music, technology, and more. The hour-long show premiered on November 8, 2010, and is hosted by writer, comedian and performer Conan O'Brien. From Stephen Colbert to Conan O'Brien, get opinionated takes on current events from late night talk show hosts, compiled by USA TODAY Opinion staff. Although there were many contenders who took on Johnny Carson, the undisputed heavyweight champion of late-night TV, Cavett … Even worse, the bank had to freeze a $10 billion group of funds that its asset management unit ran with Greensill, threatening to damage relationships with key clients. By early February, oil was up by a third, trading above $35 a barrel. In Chicago its traders occupy the historic floor of the former Chicago Mercantile Exchange building.All in all, BP, Shell, and Total employ about 8,000 people in their trading divisions, a small fraction of their overall workforce of 250,000. The unflashy American had been predicting lower prices for months. Disney plans ESPN+ price hike for August: Report. That’s not really true. BP didn’t need to trade. That’s more than double the $44.3 billion in the year-earlier period and the highest first-quarter total in data stretching back to 1993.Topping this year’s list are two of the biggest Canadian deals of the past decade: Canadian Pacific Railway Ltd.’s $28.4 billion acquisition of Kansas City Southern and Rogers Communications Inc.’s C$25 billion ($20 billion) takeover of rival Shaw Communications Inc.Those long-studied deals got a push from low interest rates that allowed the buyers to take on large amounts of leverage. In Spain, ports in Algeciras, Barcelona and Valencia were reviewing revisions to arrival schedules and preparing contingency plans for more working hours to handle the unpredictable flow of ships.The disruption spreads well beyond container shipping: scores of oil, gasoline, natural gas and other tankers and vessels were halted by the blockage, stunting normal supply and delivery routines across the energy and chemical sectors. We are considering all options including the sale of the business.”OSB first began lending to Duet in 2015, filings show. The firm, whose pianos are worth as much as $227,100 each according to its website, has also worked with piano maker Steinway & Sons in the U.S. and discussed with advisers an initial public offering on London’s Alternative Investment Market, the accounts show. “The market value of paper traders was higher than the value of physical traders,” BP said in a court filing.Since then, bonuses have only gone up. Last year, for example, Shell’s traders realized that the spreading coronavirus pandemic would have a catastrophic impact on international travel. In 2014, CBS moved swiftly to replace the retiring David Letterman with Comedy Central’s Stephen Colbert who has since battled with Fallon and Kimmel for late-night television supremacy. She joined Credit Suisse as an equity analyst in 2002 and held several senior research roles until she became chief financial officer and chief operating officer for the investment-banking unit in 2010.Warner has challenged her managers to engage more with the business, according to people who worked with her. After one meeting, he was asked—as usual—for his oil forecast by a gaggle of journalists. The company has warned member hospitals to prepare for “a higher number of shorter duration or sporadic shortages,” Hargraves said.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P. Deliveroo shares close well below their expected price after big investors' attitude to company soured. It hopes for a seat at the table with tech giants vying to define the rapidly evolving fields of connected vehicles, homes and workplaces.“The global supply chain Huawei heavily relies on has been disrupted,” said Rotating Chairman Ken Hu, one of three executives who take turns filling the top role. Absolutely. Landseer Asset Management, an equity long-short money manager recently spun out of hedge fund CQS, is also a client, while SoftBank uses the platform for its investments in equities and equity derivatives.Rising PressureOthers are signing up. Two years later, the railroad operator made and ultimately abandoned a $28.9 billion hostile bid for Norfolk Southern Corp.This time, the company found a willing seller in Kansas City Southern, which had seen its share price rise 141% from its pandemic low of $92.86 before striking the deal. In 2019, Metro Bank Plc was found to have miscategorized the risk-weightings for large numbers of its loans. The Associated Press contributed to this report. There were the usual suspects: Bank of America, Goldman Sachs, ­JPMorgan, and other financial behemoths. It echoes a global trend to separate dirtier plants, such as when Germany’s largest utilities floated their renewable businesses as separate entities more than five years ago.AGL’s new arm, dubbed with the placeholder “PrimeCo,” would encompass 8.9 gigawatts of installed generation representing a fifth of Australia’s electricity demand, including the company’s coal plants. The late-night program notched an average of 3.6 million viewers throughout the entire season. The state, which includes Mumbai, has imposed a night curfew to tamp down cases that have been rising since mid-February.Business ActivityActivity in India’s dominant services sector expanded at its quickest pace in a year in February, helped by an increase in new orders and optimism generated by a roll-out of vaccines. The Bank of England has warned that fast-growing lenders may be underestimating the risks to their business models from a downturn.The bank, led by Chief Executive Officer Andy Golding, specializes in commercial mortgages and business lending. Special purpose acquisition companies -- which have raised almost $190 billion globally since 2019, according to data compiled by Bloomberg -- have added a whole new pool of capital seeking deals, which dominated activity in 2020 and will continue to drive dealmaking, he said.Perhaps the dominant theme of the year ahead will be the continued integration of U.S. and Canadian economies, helped by a new U.S. administration that’s more supportive of cross-border trade and capital flows, Rothney said, pointing to the railway deal as an example of the trend.“The featured story for this year is going to be acceleration of cross-border M&A driven by commodity-price strengthening and increasing confidence related to the latter stages of Covid,” he said. Publicly, however, BP —whose vast size means it’s not obligated to disclose even a windfall of that scale­­—said almost nothing.BP’s trades in the midst of the 2016 slump are a ­demonstration of one of Big Oil’s best-kept secrets. In a conference call with industry analysts last year, Ben van Beurden, CEO of Shell, described the company’s trading in almost mystical terms: “It actually makes the magic.”And the wizardry pays off: In an average year, Shell makes as much as $4 billion in pretax profit from trading oil and gas; BP typically records from $2 billion to $3 billion ­annually; the French major Total not much less, according to people familiar with the three companies. Yet it didn’t pay a single dollar in taxes on those gains.Even better for the trio, trading profits tend to soar when markets are oversupplied, as was the case in 2015-16 and again in 2020, helping to cushion the blow of low prices on the traditional business of pumping and refining oil. That may present U.S. gas exporters with an opportunity to grab market share, said Andy Weissman, chief executive of EBW Analytics.Freight rates for bulk ships used to haul grains and metal may also remain elevated. It reported revenue fell 11% to 220.1 billion yuan ($33.5 billion) in 2020’s final quarter. The business “suits people who have a real commercial bent, a real desire to make money for the company,” Andrew Smith, head of trading at Shell, says in a recruiting video. While regulators have praised the increased competition, they also had to grapple with issues. A Late Show Continues Live During RNC Week: Cross The Aisle Without Leaving Your Couch! How To Submit A Small Business In Need For A Colbert Small Biz Bump, Barack Obama Joins Stephen Colbert For In-Person Interview On The Late Show, Bob Woodward, Janelle Monáe, And Drew Barrymore Coming To A Late Show. At Shell and Total, there are similar groups.Even so, big speculative wagers on the direction of the price of oil, like the one BP took in 2016, are rare. YouTube late night talk shows are the comedy-oriented talk shows that air’s late at night on U.S televisions. Ribo Fashion climbed as much as 7.7% before paring the bulk of its gains.Cotton producer Xinjiang Sailimu Modern Agriculture Co. has emerged as another big beneficiary as foreign brands grapple with the backlash. The show relaunched online on nightflight.com in 2015 with original episodes that can be streamed on the subscription channel Night Flight Plus. He was being proved right, though that was hardly a reason to celebrate.Unlike most of his peers, Dudley was no passive observer. 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Across Europe, prices fell from $666 a ton at the beginning of the year to $125 a ton by late April. “I was able to find one, I wasn’t able to find a few.”In a sign of that demand, Abu Dhabi’s Etihad Airways will temporarily convert a fifth Boeing Co. 777-300ER jetliner to cargo duty.While the squeeze on air freight was already happening without the Suez blockage, Lau sees another legacy from the past week’s events: more debate on reshaping supply lines.“You can’t just sit in one part of the world assuming that things are going to be running like clockwork and you don’t need to keep any inventory because they will arrive ‘just in time’,” she said. “I don’t know who will benefit from it but definitely not the industry.” The global semiconductor supply chain needs to be overhauled in order to resolve the current shortages, he added.Read more: Huawei Pivots to Fish Farms, Mining After U.S. SanctionsCash flow weakened last year as the company built up inventories ahead of U.S. sanctions that effectively cut off its access to American technologies last September and it has enough stockpiles for its enterprise business, Hu told reporters.