This September marked the one-year anniversary when 12 major shareholders in US shale oil and gas producers met in Manhattan to discuss ways to turn fracking operations from cash burners into cash distributors. In the following months since that clandestine meeting, the very same shareholders, including Invesco Ltd., Macquarie Group and others, pressed executives to curtail capital expenditures and instead use that cash to reward investors with dividends and share buybacks.
While steep tariffs and current account deficits of late have sent emerging market (EM) currencies and equity markets into a tail spin, longer-term demographictrends may have larger consequencesforasset prices in developing markets.
Strong GDP growth and unremarkable Q2 corporate profits have imbued investors with confidence for the time being while a slightly weaker dollar is welcomed news for vulnerable emerging market economies; will a new trade deal with Mexico and a hypothetical dollarized Venezuela keep Latin America out of EM turmoil?
This week’s Dealcast examines Vodafone’s [LON:VOD] offer for some of Liberty Global’s [NASDAQ:LBTY] European assets. The companies have tried to negotiate a deal for years and finally seem to have narrowed it down to something they can both agree on.