transactions

Russia and China ‘ditch’ dollar and increase use of euro

August 6, 2020 by Mark Allinson Leave a Comment

Russia and China are building a “financial alliance” and look set to “ditch” the dollar, according to a report on the Nikkei Asian Review website.

The financial news website reports that the US dollar’s share of trade between Russia and China “fell below 50 percent for the first time on record” in the first quarter of 2020.

The source of the statistic is Russia’s Central Bank and Federal Customs Service, which published figures showing that a relatively low 46 percent of trade transactions between China and Russia were conducted or completed in US dollars. [Read more…] about Russia and China ‘ditch’ dollar and increase use of euro

$700 billion spent on mergers and acquisitions in industrial sector

April 18, 2019 by David Edwards

Almost $700 billion was spent on mergers and acquisitions in industrial sector last year, according to a study.

Research from global management consultancy A.T. Kearney has found that the total value of deals in the industrials market has risen to $680 billion in 2018, an increase from $662 billion the year before.

A.T. Kearney’s Industrials M&A Report 2019 analysed over 76,000 global transactions between 2009 and 2018 and found that the trend towards so-called ‘megadeals’ is set to continue.

2018 alone saw more than 100 individual deals worth over $1 billion, and seven of those transactions topping the $10 billion mark – including significant deals such as United Technologies’ $30+ billion takeover of avionics supplier Rockwell Collins and the intra-UK $12.1bn deal between Melrose Industries and GKN. [Read more…] about $700 billion spent on mergers and acquisitions in industrial sector