Archive for the ‘Finance’ Category

The week in energy: Changing Saudi Arabia

Saturday, March 17th, 2018

A 1938 telegram served notice that the world would have to pay attention to the kingdom

UK’s reliance on gas for heating exposed by cold snap

Saturday, March 17th, 2018

Hitting targets for greenhouse gas emissions will require costly switch from fossil fuels

Listed green investment fund numbers expand

Friday, March 16th, 2018

Infrastructure funds have long been backers of renewable energy projects

What gives? WTI up nearly 2% in midday spike

Friday, March 16th, 2018

Oil major Eni lifts dividend 4%, boosts production target

Friday, March 16th, 2018

Li Ka-shing, Hong Kong’s richest man, to retire

Friday, March 16th, 2018

Tycoon to pass control of $100bn global empire to son Victor

Low-carbon technology power play by China’s CATL

Thursday, March 15th, 2018

The battery-maker is in pole position to seize on opportunities not just in automotives but low-carbon energy systems in general

Vitol’s Ian Taylor steps down as chief to become chairman

Thursday, March 15th, 2018

Russell Hardy takes over helm of independent oil trading company

The reckoning at Theranos

Thursday, March 15th, 2018

“The Next Steve Jobs”

“THE Next Steve Jobs” is how Inc., an American business magazine, described Elizabeth Holmes when her photograph appeared on its cover in 2015. They may share an affinity for black turtlenecks but the reputations of Ms Holmes and Apple’s celebrated late boss could not be more different. On March 14th Ms Holmes was accused of fraud by America’s Securities and Exchange Commission (SEC). She has agreed to pay a $500,000 fine, not serve as an officer of a public company for ten years and turn over much of her stake in Theranos, the startup she founded (she has neither admitted nor denied wrongdoing).

Only a few years ago Ms Holmes, who is 34 years old, was touted as the world’s youngest self-made female billionaire, a shatterer of Silicon Valley’s reinforced-glass ceiling. She graced magazine covers and speechified about Theranos, which was trying to upend diagnostic testing by using pinprick amounts of blood rather…Continue reading

AT&T’s merger with Time Warner goes on trial

Thursday, March 15th, 2018

AN ANTITRUST trial over AT&T’s $109bn acquisition of Time Warner, which begins on March 19th, will have more keen observers than one courtroom can handle. Disney, Comcast, 21st Century Fox, Verizon, Charter Communications, CBS and Viacom will be watching. So will Netflix, Amazon and Google.

The reason is simple. If AT&T wins the case against the Justice Department, and the “vertical merger” of the distribution and content businesses goes through, a wave of consolidation deals will follow. Companies that rely on large numbers of people to watch video will want to bulk up to compete with each other and Silicon Valley’s mightiest.

Comcast may make a hostile bid for Fox’s assets, setting off a bidding war with Disney, which has already agreed a $66bn deal with Fox. (Comcast already wants to buy Sky, a European satellite provider that is part of the Disney-Fox transaction.) Other pay-TV and mobile firms, like Charter and Verizon, will feel emboldened to go after content companies such as CBS or Lionsgate. All are…Continue reading