Meridian Energy hires global firm Lazard to review Australian business strategy
12 May, 2021 11:00 PM
3 minutes to read
Meridian s Mt Millar wind farm located on the Eyre Peninsula in South Australia. Photo / Supplied
Meridian s Mt Millar wind farm located on the Eyre Peninsula in South Australia. Photo / Supplied
Duncan Bridgeman is head of premium business content for the New Zealand Heraldduncan.bridgeman@nzherald.co.nz@Dunc1000
Meridian Energy has hired financial advisory firm Lazard to review its Australian strategy amid energy margin pressure and a drop in earnings across the Tasman. However, chief executive Neal Barclay was quick to point out that should not be read as a strategic review or the start of a sales process.
4 Min Read
SYDNEY (Reuters) - Asian shares faced a third day of losses on Thursday after a shocking rise in U.S. inflation bludgeoned Wall Street and sent bond yields surging on worries the Federal Reserve might have to move early on tightening.
FILE PHOTO: A man works at the Tokyo Stock Exchange after market opens in Tokyo, Japan October 2, 2020. REUTERS/Kim Kyung-Hoon
“Higher inflation is a definite negative for equities, given the likely rates response,” said Deutsche Bank macro strategist Alan Ruskin.
“The more nominal GDP gains are dominated by higher inflation, especially wage inflation, the more the possible squeeze on profit margins. It plays to a more choppy, less bullish equity bias.”
Investors dumped shares on Thursday after a bigger-than-expected rise in U.S. inflation spooked Wall Street and sent bond yields surging, with European stocks mirroring losses in Asia.
Riskier currencies fall Graphic: World FX rates tmsnrt.rs/2RBWI5E (Updates prices, adds comments)
LONDON, May 13 (Reuters) - The dollar held on to its gains on Thursday and riskier currencies fell, in a continuation of moves that started in the previous session when a surprisingly large rise in U.S. consumer prices fanned inflation fears.
Data showed that U.S. consumer prices increased by the most in nearly 12 years in April, sparking a “risk-off” move in global markets: equities and riskier currencies fell while U.S. Treasury yields rose.
Market attention now turns to U.S. weekly jobless claims due at 1230 GMT and retail sales numbers on Friday for guidance on whether upward pressure on prices will persist.