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LONDON (Reuters) - Angola has cut the number of oil cargoes that it will ship to Chinese state firms to pay down debt to Beijing as it seeks to renegotiate repayment terms to deal with the crippling impact of the coronavirus, three sources familiar with the matter said.
Angola said this week it had asked for G20 debt relief and was in advanced talks with some countries importing its oil on adjusting financing facilities, but expects no further debt overhaul to be needed beyond this.
The sharp global economic slowdown due to the novel coronavirus pandemic pushed Brent oil prices to their lowest levels since the late 1990s and U.S. oil futures to negative territory for the first time in history.
Analysts at Piper Sandler upgraded their fourth quarter earnings expectations on several banks Monday and they believe that bank stocks, which have already had an impressive run-up over the last two months, still have more room to run. They credit the return of share repurchases and an improving economic climate in 2021 and 2022 as reasons for their optimism.
With regard to capital markets activity, the analysts note that the fourth quarter was “seasonally strong.” Mergers and public offerings came to a near halt this spring as the coronavirus pandemic upended the economy, but with the market’s swift rebound this summer, Wall Street got back to work even as many other parts of the economy were flailing.
Large
Morgan Stanley has tapped Mandell Crawley, currently head of private wealth management, as its human resources chief, and named Elizabeth Dennis to succeed Crawley, the first woman in that role at the company. Dennis continues as head of strategic client management in addition to private wealth management, the wirehouse’s offering for ultrawealthy clients. Crawley’s appointment puts a Black executive in charge of human resources at a time the industry is receiving increased attention for its longstanding lack of diversity.
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Week’s Best: Morgan Stanley Taps First Woman to Head Private Wealth Management
Morgan Stanley has tapped Mandell Crawley, currently head of private wealth management, as its human resources chief, and named Elizabeth Dennis to succeed Crawley, the first woman in that role at the company.
Investment Week is hosting its Global Emerging Markets Briefing at a pivotal time for investors as they start to position for the recovery from the Covid-19 pandemic, although risks remain.
During this interactive briefing, we will hear from a number of global emerging market managers about their response to the extraordinary events of the past year and their outlook for the rest of the year and beyond.
The managers will identify where they are seeing the biggest opportunities and risks at the moment in emerging markets and explain the role their strategies could play in client portfolios.
Attendees will also get the chance to network with peers, quiz our speakers, as well as benefit from CPD points
SunStar
+ January 12, 2021 BAYAD Center, the country’s biggest and widest multi-channel payment platform, has been named as the official payment solutions partner of the Government Service Insurance System (GSIS) for loan settlement.
In a virtual partnership signing, the two financial institutions expressed their mutual aim to make GSIS loan repayment more accessible, convenient, and secure for all members and pensioners especially those in the provinces.
“Enabling simple and hassle-free over-the-counter financial transactions for borrowers is one way of helping them meet monthly obligations. It is our hope that they will be able to reap the full benefits of their loans, and at the same time efficiently manage and repay them on time. Ultimately, we want Bayad Center to be readily available for every Filipino’s financial needs, providing meaningful payment and financial services wherever they may be,” Bayad Center President and CEO Lawrence Ferrer said.