INVESTMENTS

ANZ’s Whelan will divest Asian bank stakes next

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Original article by Lisa Murray
The Australian Financial Review – Page: 13 & 17 : 2-Nov-16

The ANZ Bank will further scale back its presence in Asia after securing a deal to offload some of its retail banking and wealth management assets in the region. Mark Whelan, the head of institutional banking, says ANZ is making progress on selling some of its minority stakes in four Asian banks. He says these stakes are deemed to be non-core assets, but he stresses that ANZ is "reshaping" its Asian operations rather than withdrawing from the region. ANZ CEO Shayne Elliott has signalled that institutional banking will be the focus of its Asian operations.

CORPORATES
AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, SHANGHAI RURAL COMMERCIAL BANK, BANK OF TIANJIN COMPANY LIMITED, PT BANK PAN INDONESIA TBK, AMMB HOLDINGS BHD, DBS BANK LIMITED

Scene set for Kidman bidding war

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Original article by Kylar Loussikian, Sue Neales
The Australian – Page: 4 : 28-Oct-16

Directors of S. Kidman & Company have endorsed a $A386.5m offer for the pastoral business from Gina Hancock’s Hancock Prospecting and China-based Shanghai CRED. However, the BBHO consortium has signalled that its $A386m offer could potentially be increased. The Hancock-Shanghai CRED deal must be approved by the Foreign Investment Review Board, and Rinehart has indicated that Hancock will acquire full ownership of Kidman if the joint bid is rejected. BBHO has emphasised the all-Australian nature of its bid.

CORPORATES
S KIDMAN AND COMPANY PTY LTD, HANCOCK PROSPECTING PTY LTD, SHANGHAI CRED REAL ESTATE STOCK COMPANY LIMITED, BBHO, AUSTRALIA. FOREIGN INVESTMENT REVIEW BOARD, AUSTRALIA. DEPT OF THE TREASURY, ONE NATION PARTY, NICK XENOPHON TEAM, GLOBAL FARMLAND FUND, SHANGHAI PENGXIN GROUP COMPANY LIMITED

Dr Doom says ‘a serious recession desirable’ for the West

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Original article by Patrick Commins
The Australian Financial Review – Page: 17 & 31 : 28-Oct-16

Investment expert Marc Faber notes that global economic power has shifted from the developed world to emerging economies in recent decades. He adds that trade between Asian countries has also become much bigger than the region’s exports to the US. Faber also suggests that the financial sector still accounts for too much of the economy in Western nations, and a major recession may be beneficial for developed countries. He says mining stocks and emerging market equities offer good value at present compared with their peers.

CORPORATES
BLOOMBERG LP

Trump might win, and beware the turmoil

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Original article by Matthew Cranston
The Australian Financial Review – Page: 15 & 20 : 26-Oct-16

Hedge fund expert Jim Rogers says global financial market volatility is likely regardless of the outcome of the US presidential election. Rogers adds that a number of other factors will also contribute to looming financial market turbulence. He cautions against investing in bonds, and says investors should seek exposure to the agricultural sector, including farmland and agricultural futures. Rogers also says the Australian Government should take action to address the nation’s growing debt.

CORPORATES
QUANTUM FUND NV, APPLE INCORPORATED, AMAZON.COM INCORPORATED, GOOGLE INCORPORATED, MACQUARIE GROUP LIMITED – ASX MQG, PARAWAY PASTORAL COMPANY LIMITED

Turnbull moves to shut court doors on anti-coal activists

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Original article by Dennis Shanahan
The Australian – Page: 1 & 6 : 25-Oct-16

The Australian Government has flagged action to crack down on environmental activists’ use of the court system to block resources projects. Prime Minister Malcolm Turnbull has raised the possibility of reviving legislation aimed at curbing vexatious litigation by environmental groups. The mooted crackdown follows warnings from India’s Power Minister Piyush Goyal that opposition to Adani’s Carmichael coal mine could affect his nation’s future investment in Australia. The campaign against Carmichael has received funding from at least one US organisation that has links to John Podesta, who is heading the presidential election campaign of Hillary Clinton.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF INDUSTRY, INNOVATION AND SCIENCE, ADANI MINING PTY LTD, INDIA. MINISTRY OF POWER, DEMOCRATIC PARTY (UNITED STATES), GREENPEACE, AUSTRALIA. ATTORNEY-GENERAL’S DEPT, AUSTRALIAN LABOR PARTY, SANTOS LIMITED – ASX STO, AUSTRALIA. DEPT OF FINANCE, SUNRISE PROJECT, SANDLER FOUNDATION

Different rules for Rinehart, say farmers

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Original article by Sue Neales
The Australian – Page: 5 : 25-Oct-16

BBHO syndicate member Sterling Buntine fears that its $A386 million bid for S. Kidman & Company will not be treated fairly by the board. Buntine stressed that a rival bid from Gina Rinehart’s Hancock Prospecting and Shanghai CRED is inferior on two counts, namely being lower at $A365 million and requiring approval from the Foreign Investment Review Board.

CORPORATES
S KIDMAN AND COMPANY PTY LTD, HANCOCK PROSPECTING PTY LTD, SHANGHAI CRED REAL ESTATE STOCK COMPANY LIMITED, AUSTRALIA. FOREIGN INVESTMENT REVIEW BOARD, BBHO

Coal activists risk driving India away

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Original article by Dennis Shanahan, Michael McKenna
The Australian – Page: 1 & 4 : 24-Oct-16

India’s Power Minister Piyush Goyal has warned that the long-running opposition to Adani’s proposed Carmichael coal mine in Queensland could affect his nation’s future investment in Australia. Goyal added that Indian could source coal from countries such as South Africa and Indonesia if investing in Australian projects becomes too difficult. Recent media reports revealed that a leading Australian anti-coal group, the Sunrise Project, has been funded by US-based foundations. Documents released by Wikileaks also show that at least one of these foundations has links to John Podesta, who is heading the presidential election campaign of Hillary Clinton.

CORPORATES
INDIA. MINISTRY OF POWER, ADANI MINING PTY LTD, SUNRISE PROJECT, DEMOCRATIC PARTY (UNITED STATES), WIKILEAKS, QUEENSLAND. DEPT OF THE PREMIER AND CABINET, AUSTRALIA. DEPT OF INDUSTRY, INNOVATION AND SCIENCE, MINERALS COUNCIL OF AUSTRALIA, FEDERAL COURT OF AUSTRALIA

Trump win would trigger volatility: fund managers

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Original article by Jessica Sier
The Australian Financial Review – Page: 27 : 20-Oct-16

A survey of global fund managers shows that 53 per cent expect financial market volatility to increase if Republican Party candidate Donald Trump wins the US presidential election. The Bank of America Merrill Lynch survey also found that 55 per cent of respondents think equities and bonds are overvalued, while 44 per cent anticipate that treasury yields will be the biggest influence on share prices during the next six months.

CORPORATES
BANK OF AMERICA CORPORATION, MERRILL LYNCH AND COMPANY INCORPORATED, REPUBLICAN PARTY (UNITED STATES)

Investors circle ailing companies in the valley of debt

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Original article by Vera Sprothen
The Australian – Page: 19 & 23 : 12-Oct-16

Preqin estimates that private debt fund managers had access to a record $US199bn ($A262bn) at the end of June 2016. Such companies are believed to be seeking to acquire distressed assets in Australia, including sectors such as resources, mining services, agricultural and housing. Distressed debt funds are said to be looking to buy debt-burdened companies or the debts of businesses than cannot meet their repayments. Oaktree Capital Management and Lone Star Funds are among the global debt fund managers that have established a presence in Australia.

CORPORATES
PREQIN LIMITED, OAKTREE CAPITAL MANAGEMENT LLC, LONE STAR FUNDS, BAIN CAPITAL CREDIT, SC LOWY FINANCIAL (HK) LIMITED, MOODY’S INVESTORS SERVICE INCORPORATED, ARRIUM LIMITED – ASX ARI, PEABODY ENERGY CORPORATION, RESERVE BANK OF AUSTRALIA, WELLS CAPITAL MANAGEMENT, ALLENS, McALEESE LIMITED – ASX MCS, BHP BILLITON LIMITED – ASX BHP, ROYAL DUTCH SHELL PLC

Oil bonanza hopes sink as BP abandons $1.4bn search

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Original article by Barry FitzGerald
The Australian – Page: 2 : 12-Oct-16

Greenpeace and the Australian Greens have welcomed BP’s decision to terminate its oil exploration program in the Great Australian Bight. However, BHP has attributed the decision to factors such as the downturn in the crude oil price rather than pressure from environmentalists. Matthew Doman of the Australian Petroleum Production & Exploration Association says development of the Great Australian Bight’s oil fields would boost investment and employment in South Australia.

CORPORATES
BP PLC, GREENPEACE, AUSTRALIAN GREENS, AUSTRALIAN PETROLEUM PRODUCTION AND EXPLORATION ASSOCIATION LIMITED, THE WILDERNESS SOCIETY, NICK XENOPHON TEAM, SOUTH AUSTRALIA. DEPT OF TREASURY AND FINANCE, AUSTRALIA. DEPT OF INDUSTRY, INNOVATION AND SCIENCE