Corporate Finance Balance Sheets

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  • NEW YORK, Dec 16- No sooner will the Federal Reserve raise U.S. interest rates than it must make more decisions on how to drain markets awash in cash and, further down the road, how to shrink its swollen balance sheet. The New York Fed, which handles the mechanics of monetary policy three blocks from Wall Street, will turn on Thursday to a suite of lightly tested tools to...

  • SINGAPORE, Dec 16- As investors brace for this week's historic U.S. interest rate decision, central banks in Asia's emerging markets will be standing by a quarter of a trillion dollars in emergency liquidity lines with China and Japan to prevent routs in their currencies. "I would expect China and even Japan to be much more proactive should financial uncertainty...

  • *COFCO in talks on new deal with Noble Group. SINGAPORE/ LONDON, Dec 15- China's food giant COFCO is in advanced talks to take full ownership of Noble Group's agribusiness, three sources said, a move which would cement its newfound strength in global agriculture markets and help bolster Noble's balance sheet. The sources said COFCO was in talks to buy the remaining...

  • NEW YORK/ SAN FRANCISCO, Dec 14- Once the Federal Reserve lifts interest rates from near zero, likely this week, the focus will turn to the other legacy of the crisis-era policies: the Fed's bloated balance sheet. The prevailing view is that the U.S. central bank's $4.5 trillion portfolio, swollen by bond purchases aimed at stimulating the economy, will have to shrink...

  • Dec 10- ConocoPhillips, the largest U.S. independent oil company, plans to reduce capital spending by 25 percent next year and sell more non-core assets as it looks to shore up its finances amid a prolonged slump in oil prices. ConocoPhillips expects to spend a bulk of next year's budget on U.S. shale fields in Texas and North Dakota, and on drilling operations in...

  • *Will trim 150 billion euros in assets by 2020. AMSTERDAM, Dec 9- Dutch cooperative bank Rabobank plans to lay off nearly a fifth of its workforce to boost profit and prepare for tougher European banking guidelines, it said on Wednesday. The bank said it would shed 9,000 of its 47,000 staff by 2018 and would cut 150 billion euros worth of assets from its balance sheet...

  • Dec 8- Worries about bond market liquidity illustrate little more than the fact that if you remove a subsidy, the price goes up. In this case the subsidy was from the public purse to banks, and through them to market liquidity as banks tried to make as much as they could from artificially cheap funding and easy money. "To be sure, to some extent this may reflect the fact...

  • NEW YORK, Dec 7- HSBC is looking to boost investment banking profits by packaging more of its loans into bonds and selling them to investors in the United States. "Given our global footprint, we are able to originate assets from all over the world, repackage them, and then offer them to the U.S. investor base," said Thierry Roland, HSBC's head of global banking and markets...

  • LONDON/ SAO PAULO, Dec 4- Grupo BTG Pactual SA Chairman Persio Arida said in a letter to investors that he is "now comfortable" with the investment bank's liquidity position and vowed to push for further sales of assets over the weeks to come. In a letter to clients, Arida said that initial actions by the São Paulo-based bank's new management have been aimed at...

  • Dec 1- Buyout firms KKR& Co LP, Thoma Bravo LLC and Vista Equity Partners Management LLC are competing for $4 billion worth of Dell Inc's assets, people familiar with the matter said, as the computer maker steps up asset sales. Divesting these assets would help Dell bolster its balance sheet after it agreed in October to buy data storage company EMC Corp for $67...

  • *BTG Pactual Commodities has only modest physical assets. LONDON, Nov 30- Brazil's Grupo BTG Pactual SA is reviewing its assets and may sell part of its commodities unit to raise capital after the arrest of the bank's chief executive, a source familiar with the matter said on Monday. The bank is now seeking to shore up its balance sheet, after Esteves' arrest prompted...

  • NEW DELHI/ MUMBAI, Nov 24- U.S. solar company SunEdison Inc said it would sell projects in India with generating capacity of 425 megawatts to its "yieldco" TerraForm Global Inc for $231 million. Heavily indebted SunEdison said earlier this month that it would stop selling projects to its two yieldcos- dividend-paying units that hold generating assets of a parent...

  • **SunEdison raised fresh liquidity concerns earlier this month after revealing plans to stop asset sales to its "yieldcos" amid weak market conditions, and potentially terminate existing acquisition deals. **Company's CFO to take charge of its struggling yieldcos- TerraForm Power Inc and TerraForm Global Inc- after the units' chief executives step down.

  • MUMBAI, Nov 24- SunEdison Inc plans to sell solar power capacity worth about 400 megawatts in India for roughly $350 million, as the U.S.-based solar company looks to shed assets to boost balance sheet, said two sources with direct knowledge of the matter. SunEdison operates around 450 MW worth of solar plants in India, has another 800 MW under development, and...

  • BERKELEY, Calif., Nov 21- The U.S. With the so-called natural interest rate in the United States now near zero, and equilibrium rates in other countries around the world also lower than in the past, central banks have "significantly less room to maneuver" in the face of recessions, San Francisco Fed President John Williams said at a conference at University of...

  • *Moment of silence with Greenpeace over Brazil disaster. "Through thick and thin, through good times and bad times, this company has been quite strong," Chairman Jacques Nasser told shareholders at the company's annual meeting in Australia. UBS is forecasting a near 50 percent fall in BHP's net earnings to $3.3 billion in 2015/ 16, about half the $6.49 billion the...

  • TORONTO, Nov 12- Barrick Gold Corp said on Thursday it will sell its stake in four non-core assets in Nevada for $720 million, putting the Canadian mining firmly on track to meet its 2015 debt-reduction target amid a multi-year slump in gold prices. The world's largest gold producer will sell its 50 percent interest in the Round Mountain mine and 100 percent of the...

  • NEW YORK, Nov 12- Morgan Stanley, better known for underwriting bonds than for retail banking, plans to offer savings accounts and certificates of deposits next year to wring more profit from its wealth management clients, executives told Reuters. The goal is to win more of the assets that customers keep at rivals such as JPMorgan Chase& Co or Bank of America Corp....

  • *Lonmin to sell 27 billion new shares. JOHANNESBURG, Nov 9- Lonmin priced its $407 million share issue at a 94 percent discount as the platinum miner fights for survival in the face of low prices and after knocking $1.8 billion off the value of its assets. Battered by strikes, rising costs and weak platinum prices, Lonmin said last month it planned to raise the money...

  • *Lonmin to sell 27 billion new shares. JOHANNESBURG, Nov 9- Platinum producer Lonmin priced its $407 million rights issue at a 94 percent discount as the firm fights for survival in the face of depressed commodity prices after writing down $1.8 billion in assets. Battered by strikes, rising costs and weak platinum prices, Lonmin said last month it planned to raise...