GLOBAL MARKETS-Stocks slip, crypto hemorrhage deepens amid inflation worries Reuters 4 hrs ago European stock futures down 1%, Nikkei loses 1.5% Cryptocurrencies hit by fresh China measures Bitcoin plummets 10%, down 40% from peak last month Global asset performance http://tmsnrt.rs/2yaDPgn
By Hideyuki Sano
TOKYO, May 19 (Reuters) - Global stocks slipped and cryptocurrencies sank on Wednesday as a threat of unwanted inflation had investors shy away from assets seen vulnerable to any removal of monetary stimulus.
Also weighing on digital coins were new Chinese restrictions on financial institutions providing services related to cryptocurrency transactions.
European stocks are expected to drop, with both Euro Stoxx futures and Britain s FTSE futures trading about 1% lower.
Inflation worries likely to remain as U.S. economy reopens Bitcoin near 2 1/2-month on Tesla about-face, Binance
probe
TOKYO, May 14 (Reuters) - The dollar took a breather on
Friday but looks set to post weekly gains against a basket of
currencies as investors weighed the risk of U.S. inflation
rising faster than expected and prodding the Federal Reserve to
hike interest rates sooner.
A strong reading on U.S. wholesale prices and jobless claims
on Thursday failed to spark a renewed uptick in Treasury yields,
which some traders put down to the market already pricing in a
degree of inflation worries.
ARA Asset Management ups stake in Japanese property manager Kenedix to 30%
A city view in Tokyo, Japan. Photo by Ryo Yoshitake on Unsplash.
May 14, 2021
ARA Asset Management Ltd, a Singapore-based real estate investment firm backed by Warburg Pincus, on Friday announced that it has increased its take in Japanese real estate asset manager Kenedix to 30% from 20.27% previously.
The move comes after ARA supported the privatisation of Kenedix in November 2020 via a buyout led by Sumitomo Mitsui Finance and Leasing (SMFL), a subsidiary of Sumitomo Mitsui Banking Corporation. Kenedix was delisted from the Tokyo Stock Exchange in March.
Financial details of the transaction were not disclosed. ARA first bought into Kenedix in 2017 and was, up to the time of privatisation, its single largest shareholder.
Kansai, Marubeni Scrap Akita Coal-Fired Power Project
Osaka-based utility Kansai Electric Power and trading house Marubeni have cancelled a project to build a 1.3GW coal-fired power plant in the northeast Akita prefecture after a study concluded the project was no longer feasible.
The plant was Japan s last coal-fired power project that has not started construction. A tougher environment to develop new coal-fired power plants had pressured the companies to reconsider the project.
Kansai and Marubeni had planned to construct two coal-fired power plants in Akita city, targeting the commissioning of the 650MW No.1 unit in March 2024 and the 650MW No.2 unit in June 2024. The companies are studying the possibility of developing a biomass power plant instead of the coal-fired power plant, Kansai said.
London based Challenger Bank OakNorth Reportedly Entered into Deals with Capital One, Fifth Third Bank
UK-based Fintech
Capital One and
Fifth Third, according to a report from BI.
The London-headquartered Fintech firm has managed to onboard two new clients for its credit intelligence product offering. Capital One and Fifth Third Bank will be using OakNorth’s default prediction software. The deals have been announced in an effort to support the firm’s expansion into the US after it finalized a deal with
PNC.
Capital One and Fifth Third Bank said they’ll be using OakNorth‘s credit intelligence tools, which are used to assess and analyze the bank’s loan book. This is done to determine which facilities may potentially be at risk for defaulting, according to the report from BI.