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The Investment Banking Industry Posted Record Profits in 2005
Mar 2, 2006, 20:20
The investment banking industry achieved record profits of $65 billion in 2005, up 19 percent from 2004. The industry fired on all cylinders to achieve these results, The Boston Consulting Group (BCG) found in its quarterly report for the investment banking industry.
Hedge Fund Invests in Alternative Energy Small-Cap Theolia S.A.
Mar 2, 2006, 20:13
Theolia, the French renewable energy company listed on the Euronext Marche Libre (MLTEO), has raised €25 million in a share issue, 99% of which was taken up by existing shareholders.
Bull Stampede in EU Allowance Market
Jan 18, 2006, 15:22
Spot Prices for European Allowances (EUAs) surged upwards today in a robust buying session, adding gains from yesterday's rally on the back of German power and UK natural gas Prices.
Energy Impact on Global Economy Is Understated
Dec 23, 2005, 14:53
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| Estimates from The Conference Board show that a permanent increase of 50 cents per gallon in the price of retail gasoline will reduce the level of real personal consumption by 1% to 1.5% within a year |
The energy shock to economic growth will be felt worldwide through the increasing global imbalance between high investment and low consumer spending, according to an analysis by The Conference Board, the global research and business membership organization.
The steady rise of global commodity prices since 2002 has been led by spiraling oil prices. There have been a number of additional factors motivating these increases: exceptionally low interest and inflation rates, a surge in emerging market demand led by heavy investment in China, the acceleration of global manufacturing activity in 2004, and a shortfall in natural resource investment for almost 20 years.
EU Allowances flat despite rally in German Power
Dec 19, 2005, 18:42
European Union Emissions Trading Allowances (EUAs) Spot Prices ended down for the day on very thin volumes. The Spot Price for EUAs closed at €21.00 (-€0.20) according to data from RWE. Volume was thin in the OTC market according to brokers at on or about 400,000 tonnes.
EU Emissions Allowances Market Rebounds on German Power Prices
Dec 12, 2005, 19:16
European Union Emissions Trading Allowances (EUAs) Spot Prices rebounded today from last week's sell-off, albeit on thin volumes. The Spot Price for EUAs held ground above the €21 resistance mark to close up at €21.10 (+€0.60) according to data from RWE. Volume was light in the OTC market according to brokers at on or about 600,000 tonnes.
Standard & Poors: Hedge Funds Return to Positive Territory in November
Dec 9, 2005, 19:14
Hedge funds returns, as measured by the S&P Hedge Fund Index (S&P HFI), gained 0.07% in November returning back to positive territory after a poor October showing, Standard & Poor's reported today. Year-to-date, the S&P HFI has returned 2.01% through the end of November.
EU Allowances Recover on German Power and Italian NAP for CO2
Nov 25, 2005, 22:59
Spot prices for European Union Allowances (EUAs) recovered today on the back of a more stringent National Allocation Plan for Italy and strengthening German Power prices. Spot Prices for EUAs closed at €20.00 (+€0.55). Volumes were heavy according to brokers, with trading in excess of 2,500,000 tons.
Market for EUAs Thrown into Confusion over Court Ruling
Nov 24, 2005, 01:00
Prices for EU Allowances, known as EUAs, were sent reeling today as the European Union Court of First Instance granted a victory to the U.K. government over its fight with Brussels over its National Allocation Plan for reducing carbon dioxide. Spot prices for EUAs were on the rise in early morning trading, reaching €22.50 from yesterday’s close of €21.80, only to plunge to a low of €21.00 when the court ruling was announced.
EUA spot prices recovered to €21.25, still down -€0.55 for the day. EUA Dec '06 prices fell to €21.38 (-€0.55) and Dec '07 to €21.49 (-€0.52) according to data from the European Energy Exchange. Volume was heavy, in excess of 2 million tons, according to brokers.
Vientiane Pact could be a boon for clean coal technology
Aug 12, 2005, 13:50
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| John Wadsworth of Brown Rudnick |
Six countries, representing more than 40% of the world’s global carbon dioxide emissions, formed last month what has become known as, the Vientiane Pact. Formerly entitled the Asia Pacific Partnership on Clean Development, the Pact although vague in detail, is an agreement in principle, to tackle energy security, global warming and other issues through technology transfer.
GE Energy and Calpine form alliance to build California gas plant
Aug 11, 2005, 14:31
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| Calpine CEO Peter Cartwright |
GE Energy, part of General Electric, and Calpine Corporation have received approval to construct a high-tech natural gas power plant using GE’s new H System technology. The plant will be more fuel-efficient and emit less carbon dioxide and other gases than conventional gas turbine power plants. The plant will be located in Southern California.
Can the oil barons and big power companies use emission credits from carbon sequestration to finance clean projects?
Aug 11, 2005, 09:05
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| Lord Browne, CEO of BP PLC |
A consortium made up of BP, ConocoPhilips, Shell and Scottish and Southern Energy, are to commence engineering design of the first industrial scale project to generate electricity using hydrogen manufactured from natural gas. The major benefits of the project will be the sequestration of 1.3 million tonnes of Carbon Dioxide (CO2) per year, whilst using the gas to enhance oil recovery from depleting North Sea fields.
President Bush Signs Law to Develop Alternative Energy Sources
Aug 10, 2005, 10:06
U.S. President George W. Bush signed into law $14.5 billion in incentives to develop alternative fuel sources and give tax breaks for U.S. energy companies that he said would lessen U.S. dependence on foreign oil in the future.
A PUBLIC FUND DEDICATED TO TURNING COMPANIES AROUND
Jul 22, 2005, 09:33
The hard charging ex-marine with the German-sounding French name, Guy Wyser-Pratte, is plunging his investment activism full throttle into the limited arena of corporate governance-dedicated investment funds. Wyser-Pratte plans to launch the publicly listed Wyser-Pratte Euro Value Fund this September.
Is General Motors Running Out of Gas?
Jun 7, 2005, 09:35
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| Mr. Kerkorian |
General Motors may be down but it's not out. At least not yet.
True, it's been a tough year for the giant auto manufacturer: a $1.1 billion first-quarter loss, junk-bond status for its debt, a largely lackluster lineup of models, and a mountain of health-care and pension liabilities that builds an immediate cost disadvantage into every vehicle that rolls off the line.
Hedge funds are cutting off Wall St firms at the pass
Jun 2, 2005, 11:00
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| Malcom Glazer |
When Malcolm Glazer, a U.S. shopping-mall and sports-team tycoon, needed money to finance his takeover of British soccer club Manchester United, part of the money came from banks.
A Finger on the Pulse of Berkshire Hathaway and Warren Buffett
May 20, 2005, 15:08
Throughout the spring, the snowballing financial scandal at insurance giant American International Group has put the spotlight on the firm's partner in the improper deal, General Re Corp. Could the damage extend to Gen Re's owner, Berkshire Hathaway Inc. and its legendary chief, Warren Buffett?
Hedge Funds Need Not Fear the Dead
May 20, 2005, 13:28
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| Jay Gould |
In a recent no-action letter, the staff of the U.S. Securities and Exchange Commission found that a settlor of a trust who had been deceased for over 45 years, is a qualified purchaser under the Investment Company Act of 1940.
NYSE Specialists Indicted
Apr 12, 2005, 16:07
Fifteen New York Stock Exchange specialists, the traders responsible for keeping an orderly market on the world's biggest stock exchange, were indicted for fraudulent and improper trading.
Are Dutch Auctions Right for Your IPO?
Apr 12, 2005, 15:48
Google's decision to launch its 2004 IPO via a so-called Dutch auction process has caused a pause in many companies considering their own IPOs. After all, shares of the Internet search engine provider soared and remain high today. But is Google a special case? Would some IPOs fare better than others in a Dutch auction?
Accounting for the Abuses at AIG
Apr 7, 2005, 12:22
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| Maurice Greenberg |
When accounting problems at American International Group surfaced last winter, it looked like a small matter next to the corporation-busting scandals of the Enron era. Even after AIG issued a statement March 30 detailing the issues, it said only $1.77 billion in shareholder value was threatened -- not so much for a multinational company then valued at more than $81 billion.
NON-US COMPANIES GET REPRIEVE ON SARBANES-OXLEY
Apr 6, 2005, 11:26
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| Kevin Keogh of White & Case |
European corporations won a major lobbying campaign this past month, when the US Securities and Exchange Commission agreed to grant non-US businesses listed on American markets a year's reprieve from complying with the tough internal-controls requirements of the Sarbanes-Oxley Act.
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