AstraZeneca finance chief Lowth to quit for BG Group
Issuers are looking towards the US market for liquidity and best execution, be that either through bonds or loans. The details: The European leveraged finance primary and secondary markets were buffeted by volatility. This follows comments made by the Fed chairman for tapering off support for quantative easing. Loan issuance was 7.6 billion in June 2013, while high yield issuance was just 2.9 billion. According to JP Morgan HY research: estimated outflows out of European HY funds was almost 1.5 billion for June versus inflows of 3.8 billion till the end of May.
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Investors are also fretting about its exposure to strife-torn Egypt, home to a fifth of the company’s production on which cash flow for costly future projects depends. AstraZeneca also faces difficulties. Chief executive Pascal Soriot told Reuters in June that turning around the drugmaker would be a long haul as it battles falling sales due to patents expiring. Lowth cut his managerial teeth at the privatized utility Scottish Power between 2003 and 2007, where he rose through the ranks to become finance director, before he moved to AstraZeneca as chief financial officer.
If successful, it would be the slowest pace since the country last eliminated the deficit in the 1990s. Stocks Underperform At 1.7 percent, Canadas growth this year will be one of the slowest among the Group of 20 countries outside Europe , according to International Monetary Fund forecasts released last week. Canadas benchmark stock index is under-performing U.S. equities for a third year after seven years of stronger gains. According to poll aggregator threehundredeight.com , the Conservatives have averaged support of 28.9 percent in surveys taken last month, compared with 34.4 percent for the Liberals and 23.8 percent support for the main opposition New Democratic Party .