AGP Executive Report
Last update: 5 hours agoRenewables Deal: Philippines’ PetroEnergy Resources (PERC) approved selling 6.84m shares in its wind unit PetroWind Energy to SMFL Mirai Partners for P1.7bn, with post-deal ownership split leaving PERC at 25% and PetroGreen Energy at 40%, as the group seeks to simplify its renewable portfolio structure. Solar Royalty Financing: RE Royalties announced a third investment into Solaris Energy’s distributed solar royalty portfolio, adding US$62.7m via a further funding advance that brings its total royalty funding to US$4.8m, with plans to expand across contracted, awarded and development-stage projects. Banking Accountability: A Manhattan federal judge approved Bank of America’s $72.5m settlement with Jeffrey Epstein accusers, with the bank denying wrongdoing while the court said the deal moves toward accountability for alleged ignored suspicious transactions. AI for Finance Work: Google Cloud launched Gemini Enterprise industry editions for legal and capital markets/corporate banking, pitching built-in domain “plumbing” for regulated workflows and data access controls. Rates & Housing: Weekly mortgage rates ticked up to 6.57% APR on a 30-year fixed average as investors weighed hotter-than-expected inflation, with Fed policy expectations still driving lender pricing. Market Structure Watch: A New York Fed report warns the next currency crisis could be harder to contain as stablecoins grow, adding new channels for stress. Corporate Finance Moves: Rivian CFO Claire McDonough will leave to become CFO at GE Vernova as the EV maker ramps its lower-priced R2 rollout amid fragile demand. FX Flows: Japan’s investors remain divided on overseas bonds and equities after yen intervention, with portfolio flow data pointing to shifting risk appetite.
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