Abu Dhabi’s $892 Billion Wealth Fund Boosts Private Credit Bets
Abu Dhabi’s $892 billion sovereign wealth fund is upping its commitment to a real estate private credit fund, the latest sign that deep-pocketed Middle Eastern investors are looking to play a pivotal role in the asset class. #press
Riksbank Governor Wants to Minimize Bitcoin in Financial Sector
Sweden’s central bank governor seeks to keep Bitcoin trading away from the country’s financial system, warning about potential losses after the crypto currency has reached new all-time highs. #press
EQT to Start Gauging Investor Appetite in New Asia Buyout Fund
EQT AB is targeting raising a new Asia-focused buyout fund and is in the early stages of gauging investor interest, according to people familiar with the matter. #press
CVC’s Beauty Chain Douglas Sets Terms for $991 Million IPO
German perfume retailer Douglas aims to sell as much as €907 million ($991 million) of stock in its initial public offering, as owner CVC Capital Partners capitalizes on a rebound in European listings. #press
BAT to Sell as Much as $2.1 Billion of ITC Stock in Block Trade
British American Tobacco Plc, the maker of Lucky Strike cigarettes, is selling as much as $2.1 billion of shares in Indian partner ITC Ltd. in a block trade. #press
Ex-BOJ Policy Board Member Sees 70% Chance of Hike Next Week
Takahide Kiuchi, executive economist at Nomura Research Institute and former Bank of Japan Policy Board member, speaks about the probability of an interest rate hike by the BOJ next week and his outlook for yield curve control. (Source: Bloomberg) #press
ADM Revises Years of Internal Sales After Accounting Probe
Archer-Daniels-Midland Co. revised its intersegment sales for the last three years following an internal probe into its financial reporting and disclosed a $137 million impairment charge related to its animal nutrition unit. The shares rose in early trading. #press
Smallest Turkish Gold Imports Since 2022 Improve Current Account
Turkey imported the least amount of gold in nearly two years, helping to keep the current-account deficit narrower than expected. #press
Five Things You Need to Know to Start Your Day: Americas
Good morning. Stocks rise before key CPI data, Bank of America upgrades its outlook for US earnings growth while Jamie Dimon punctures optimism over a soft landing. — David Goodman #press
Novo Owner’s CEO on Obesity Sales Boom, Catalent Deal
Novo Holdings CEO Kasim Kutay discusses the surge in income from obesity drug sales and offers an update on the Catalent deal and insight on the company’s deal strategy. #press
Bloomberg Daybreak Europe: Close to Liftoff 03/12/2024
Bloomberg Daybreak Europe is your essential morning viewing to stay ahead. Live from London, we set the agenda for your day, catching you up with overnight markets news from the US and Asia. And we'll tell you what matters for investors in Europe, giving you insight before trading begins. Today's show was... #press
Russia’s Sokol Crude Backlog Clears Slowly as Cargoes Head to China
A backlog of cargoes of Russia’s Sokol crude that built up off Singapore and South Korea is slowly clearing, with Russia seeking out new buyers for a grade previously favored by Indian refiners. #press
StanChart CEO Contender Cooper Set to Leave in Broad Overhaul
A frontrunner to replace Standard Chartered Plc Chief Executive Officer Bill Winters is set to depart as the emerging markets lender pushes through a broader management reshuffle to boost returns. #press
Trading US Inflation Is Muddying Bond Market’s Auction Gameplan
Bond traders have plenty on their plates the next couple days, even after they absorb a crucial US inflation reading that stands to shape expectations for Federal Reserve policy for months to come. #press
Russia’s Crude Shipments Rebound to the Highest Level This Year
Pacific cargoes surged to take overall flows to 3.7 million barrels a day in the week to March 10 #press
Former Sequoia India Firm Launches New Fund for Early Ventures
Peak XV Partners, formerly part of Sequoia Capital, is creating a new fund that will take stakes in global seed and early venture funds, and make other investments that fall outside the purview of its existing portfolios. #press
Honda, Nissan Considering Cutting China Capacity, Nikkei Says
Nissan Motor Co. is considering a 30% reduction in production capacity in China, while Honda Motor Co. intends to cut 20%, the Nikkei reported. #press
China Vanke in Debt Swap Talks With Banks to Stave Off Default
China Vanke Co. is in talks with banks on a debt swap that would help the cash-strapped developer stave off its first-ever bond default, according to people familiar with the matter. #press
BOJ’s Absence in ETFs Seen as Step to Healthier Stock Market
The Bank of Japan’s surprise lack of exchange-traded fund buying on Monday despite a drop in shares is spurring speculation the bank will stop purchasing ETFs, to try to make the nation’s stock market healthier by boosting liquidity for traders and reducing price distortion. #press
BofA Strategists Boost S&P 500 Profit Forecast to Join Top Bulls
The S&P 500 will deliver stronger-than-expected earnings in 2024, powered by resilient economic growth and artificial intelligence breakthroughs, according to Bank of America Corp. strategists, who are now among Wall Street’s most bullish profit forecasters. #press
