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Nigeria Wastes Oil Rally as Policy Muddle Deters Investors Bloomberg 3/10/2021 Tope Alake (Bloomberg) -- Nigeria isn’t making it easier for foreign investors to buy into its high-yielding assets. A series of policy missteps in recent weeks highlighted some of the uncertainties investors face, and raised concerns that Africa’s biggest economy is missing an opportunity created by rising oil prices to attract much-needed foreign currency. First, the country allowed fuel subsidies that have been a drain on state coffers in the past to creep back by allowing pump prices to st...

Nigeria Wastes Oil Rally as Policy Muddle Deters Investors Bloomberg 3/10/2021 Tope Alake (Bloomberg) -- Nigeria isn’t making it easier for foreign investors to buy into its high-yielding assets. A series of policy missteps in recent weeks highlighted some of the uncertainties investors face, and raised concerns that Africa’s biggest economy is missing an opportunity created by rising oil prices to attract much-needed foreign currency. First, the country allowed fuel subsidies that have been a drain on state coffers in the past to creep back by allowing pump prices to st...

Dot-com Era Stock Valuations Bring Bubble Fears to ESG Funds Bloomberg 1/26/2021 (Bloomberg) -- It’s reality-check time for ESG funds. Exchange-traded funds investing in companies with responsible environmental, social and corporate governance practices lured a record $85 billion in the U.S. and Europe in 2020, and are still raking it in. Pumped up by the flows, stocks in many of these funds are trading at frothy price-to-earnings multiples that are increasingly hard to justify. Take U.S. fuel-cell maker Plug Power Inc., for instance. The unprofitable company’s more than 2,000% rally si...