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Exclusive: BP seeks buyers for China petchem JV stake in up to $3 billion deal – sources
August 9, 2016 by elegant · Leave a Comment
By Arno Schuetze and Denny Thomas FRANKFURT/HONG KONG (Reuters) – British oil major BP is seeking buyers for its 50 percent stake in a Chinese petrochemicals joint venture, its single largest investment in China, in a deal that would fetch $2-$3 billion, people familiar with the matter told Reuters. BP has hired an investment bank to sell its shareholding in SECCO as part of a drive to cash out of businesses where it lacks control, the people added. A successful deal would mark BP's first significant exit …
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Exclusive: BP seeks buyers for China petchem JV stake in up to $3 billion deal – sources
america-merrill
China’s slowing wholesale deflation takes pressure off central bank
August 9, 2016 by elegant · Leave a Comment
By Elias Glenn and Yawen Chen BEIJING (Reuters) – China's factory price deflation moderated further in July, with prices falling at their slowest pace in two years, taking pressure off the central bank to cut rates as policymakers turn their focus to structural reforms and ballooning credit. A government-led building spree has increased demand for construction materials, but higher prices are also due in part to speculation in China's commodities futures market, which has pushed up Shanghai rebar futures up by 50 percent this year. …
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China’s slowing wholesale deflation takes pressure off central bank
america-merrill
Asia shares up as yield hunt drives record flows, pound slips
August 9, 2016 by publisher · Leave a Comment
Asian shares stood atop one-year peaks on Tuesday as a global search for yield drove a record inflow into emerging market funds, while the pound slipped to one-month lows on speculation of further policy easing in the UK. Analysts at Bank of America…
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Asia shares up as yield hunt drives record flows, pound slips