5bp

UPDATE 5-BP gets $4 bln from Anadarko for oil spill costs


* BP shares jump 2.2 pct; Anadarko up 3.8 pctBy Tom BerginLONDON, Oct 17 (Reuters) - Anadarko Petroleum Corp will pay BP Plc $4 billion toward clean-up of the Gulf of Mexico oil spill, far less than BP might have won in court, but the deal could reduce the overall cost of the disaster for the British group.Under the settlement announced on Monday, Anadarko said it will no longer pursue its allegations of gross negligence against BP. Anadarko was a 25 percent partner in the doomed Macondo well, and BP had sought payments to offset the costs of the spill.BP shares rose 2.2 percent in London on news of the settlement. Anadarko shares were up 3.8 percent to $73.27 in afternoon trading on the New York Stock Exchange.“We regard it as favourable for both companies,” BP Chief Executive Bob Dudley told reporters.Anadarko could have been on the hook for 25 percent of the cleanup costs, compensating those affected, and paying any government fines. It could only avoid this responsibility if it proved that BP had been grossly negligent – something which could, potentially, have added around $18 billion to the total amount of fines BP faced.Anadarko would still be liable under the deal with BP for any fines payable to the U.S. government.Fines for leaking oil into U.S waters are assessed at a level of $1,100 per barrel, or $4,300 if gross negligence is proven. The government has said the Macondo well leaked almost 5 million barrels into the sea.BP has said the total bill for the oil spill, including government fines, will be $42 billion. This suggests Anadarko could have faced a total bill well above the $4 billion it agreed to pay.LESS LIKELYInvestors have priced in a final cost to the company from the spill that is far above BP’s estimate. Analysts say deals such as the one announced Monday make the worst-case scenario – a final bill in excess of $70 billion – look less likely.“We maintain our view that the ultimate cost to BP could fall … substantially below the cost inferred by the share price fall since the accident,” said Richard Griffith, an oil analyst at Evolution Securities.In May, BP agreed to accept $1.1 billion from the third partner in Macondo, Mitsui & Co , to cover its 10 percent share of cleanup costs.BP’s lawsuits against companies it hired for the failed drilling project are among the hundreds of claims still pending before a federal judge in New Orleans. A trial date has been set for February next year.To share the cost of the spill and cleanup, BP sued Transocean , owner and operator of the sunken Deepwater Horizon rig, cement specialist Halliburton , and Cameron International Corp , which designed the blowout preventer, a device that was supposed to stop the surge of oil.Key to forcing Transocean to meet the cleanup bill – BP has sought the full amount from the drilling contractor – is convincing a court that Transocean was grossly negligent.If BP does recoup cash from Transocean or Halliburton, it will pay a portion of this – up to $1 billion to Anadarko under the terms of the deal.Two lengthy government inquiries have laid the lion’s share of the blame for the blowout at BP’s door.The rig blast killed 11 men and caused more than 4 million barrels of oil from the Macondo well to spill into the sea.The case is In re: Oil Spill by the Oil Rig “Deepwater Horizon”, U.S. District Court, Eastern District of Louisiana, No. 2:10-md-02179.


3

It finally came! The wait is over!

Actually it came last week but then Easter happened and you know..

But man I’m so excited to play this! It’s been hard to stay away from game exclusive spoiler but now I can finally take Stein;Gate off of tumblr saviour! Hopefully this will tide me over until chaos;child.

Also Sam you need to play/watch this asap. That’s an order. 

Reuters: Financials: DomRep scores a home run with US$1bn dual-tranche tap

Reuters: Financials

Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world’s media, financial institutions, businesses and individuals.

DomRep scores a home run with US$1bn dual-tranche tap
http://feeds.reuters.com/&
Apr 30th 2015, 21:07

NEW YORK, April 30 (IFR) - The Dominican Republic scored a home run on Thursday raising US$1bn through a dual-tranche bond reopening that was priced with just 5bp to 12.5bp in new issue premium.


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Dow Swings 750 Points In SloMo Meltup; Bonds, Bullion Battered

Fears over ECB crackdowns on Greek banks started the turmoiling. Denials carried it on, then good housing data was bad news until it was good news… With moar HFT algos driving today’s manic volatility (and Sarao in court), we thought this apropos…

Dow Futures swung over 750 points intraday…

And futures show the volatility was widespread…

But cash indices all closed higher, led by Trannies (small caps lagged) - Mission Accomplished: NKY > 20,000; Dow >18,00; Nasdaq > 5,000; and S&P > 2,100

On the week that leaves Trannies in charge and small caps lagging…

Notice we reversed lower towards the close as S&P Futs tagged yesterday’s openiung highs - just another stop run!

Everything today appeared to pivot around the Housing data…

Treasuries were clubbed like baby seals… leaving 30Y yield up 14.5bps on the week (8.5bps today) in a major steepening post housing data. 10Y Yields hit 1.99%

Worst day for the long-bond in 7 weeks pushed yields to 5-week highs.

3rd day in a row that Treasuries have been sold in the US session

The Dollar ended the day very modestly higher thanks to USD buying duringh the US session (which is unusual)… Swissy was baumgartnered…

Despite the dollar’s quietness, commodities all lost ground with gold and silver monkey-hammered… and copper continuing its slide (and hitting contango)

Crude prices spiked on the smallest of production cuts but then humans realized that in fact it was Alaska that had cut.. and prcies tumbled back to red on the day…

But that didn’t stop energy stocks from rallying to new high valuations…

Charts: Bloomberg










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13. Bonds Drop, Dollar Pops After Hotter-Than-Expected Inflation - http://ift.tt/1FdtlLe

Zero Hedge -

Stocks - for now - are ambivalent to the highest core CPI in 5 months; but the grown-up markets in bonds and FX are taking notice. The Dollar has surged (led by EUR weakness) and long-bond yields are up 5bps (back to unchanged on the week).

 

Charts: Bloomberg








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Reuters: Company News: DomRep scores a home run with US$1bn dual-tranche tap

Reuters: Company News

Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world’s media, financial institutions, businesses and individuals.

DomRep scores a home run with US$1bn dual-tranche tap
http://feeds.reuters.com/&
Apr 30th 2015, 21:07

NEW YORK, April 30 (IFR) - The Dominican Republic scored a home run on Thursday raising US$1bn through a dual-tranche bond reopening that was priced with just 5bp to 12.5bp in new issue premium.


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Reuters: Market News: DomRep scores a home run with US$1bn dual-tranche tap

Reuters: Market News

Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world’s media, financial institutions, businesses and individuals.

DomRep scores a home run with US$1bn dual-tranche tap
http://feeds.reuters.com/&
Apr 30th 2015, 21:07

NEW YORK, April 30 (IFR) - The Dominican Republic scored a home run on Thursday raising US$1bn through a dual-tranche bond reopening that was priced with just 5bp to 12.5bp in new issue premium.


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Reuters: Financials: New Issue- Dong Energy prices 600 mln euro 3015 bond

Reuters: Financials

Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world’s media, financial institutions, businesses and individuals.

New Issue- Dong Energy prices 600 mln euro 3015 bond
http://feeds.reuters.com/&
Apr 29th 2015, 14:40

Underlying govt bond Over Mid-swaps, equivalent to 315.5bp



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Bonds Drop, Dollar Pops After Hotter-Than-Expected Inflation

Stocks - for now - are ambivalent to the highest core CPI in 5 months; but the grown-up markets in bonds and FX are taking notice. The Dollar has surged (led by EUR weakness) and long-bond yields are up 5bps (back to unchanged on the week).

 

Charts: Bloomberg










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