The BP (NYSE:BP)-led Shah Deniz consortium says it is moving into the final stages of evaluation regarding its transportation options, following the final bids from rival firms looking to land the oil transportation contract. Shah Deniz said the transportation offers were set to become legally binding this month, and that it was also expecting binding gas sales offers from potential gas buyers in April.
Bank of America-Merrill Lynch (NYSE:BAC) has hire former Morgan Stanley (NYSE:MS) executive Deepak Abraham as head of capital strategy in Asia Pacific, according to an internal memo. A spokesman for the bank confirmed that the memo was legitimate. Abraham will be moving to the Hong Kong offices from Dubai, where he will oversee the process of raising capital from investors for the bank’s hedge fund clients, or capital introduction, as it is dubbed in the industry.
Toys R Us’s decision to bypass an initial public offering opportunity is coming to some as a bad omen, but investors are not concerned about putting money down on Target (NYSE:TGT) or Wal-Mart (NYSE:WMT). While Toys R Us is suffering from the conversion of toys to digital formats, Target and Wal-Mart have food and other basic staples to fall back on. Wal-Mart, in the meantime, has been facing its own issues. Customers have been complaining that the store’s shelves are constantly bare, and that short staff problems are far more widespread than the company has let on.
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