Tag: billions

05
Oct
2020
Posted in technology

PhosAgro Warns of Billions in Losses from EU Carbon Tax

(Bloomberg) — PhosAgro PJSC, Russia’s biggest producer of phosphate fertilizer, is calling for the government to help mitigate potentially billions in losses for the country’s raw-materials producers if Europe introduces a carbon tax.



a close up of a snow covered mountain: Granules of monoammonium phosphate (MAP) sit inside a storage warehouse at the PhosAgro-Cherepovets fertilizer plant, operated by PhosAgro PJSC, in Cherepovets, Russia, on Wednesday, Aug. 9, 2017. Phosphate fertilizer prices may be supported in the 2H by "high season in India, pre-winter buying activity in the Northern hemisphere and risks of further potential production cuts in China," PhosAgro chief executive officer Andrey Guryev said in a statement.


© Bloomberg
Granules of monoammonium phosphate (MAP) sit inside a storage warehouse at the PhosAgro-Cherepovets fertilizer plant, operated by PhosAgro PJSC, in Cherepovets, Russia, on Wednesday, Aug. 9, 2017. Phosphate fertilizer prices may be supported in the 2H by “high season in India, pre-winter buying activity in the Northern hemisphere and risks of further potential production cuts in China,” PhosAgro chief executive officer Andrey Guryev said in a statement.

The European Union is looking at how a potential carbon tax could help meet its 2050 goal of climate neutrality. If imposed, the levy would hit imports, including raw materials and products produced in countries without duties on emissions, such as Russia. The European Commission, the bloc’s executive arm, will next propose a draft regulation on the levy in June 2021.

Loading...

Load Error

A European carbon tax could potentially cost Russian companies between $1.8 billion to $8 billion every year “depending on the scope of the processes and products to which the tax may be applied,” Andrey Guryev, PhosAgro’s chief executive officer, said in an interview in Moscow.

“Europe is a big export market for all of us,” Guryev said.

Here’s How the EU Could Tax Carbon Around the World: QuickTake

While the precise rules of a Europe-wide carbon tax haven’t been worked out yet, EC President Ursula von der Leyen warned in January that fossil fuel producers must pay a levy on pollution at home or risk being hit with a planned greenhouse gas duty on products imported into the EU.

Forests Audit

Guryev said the Russian government could help companies mitigate carbon-tax costs by re-examining the

30
Sep
2020
Posted in technology

Silver Lake was labeled the ‘Warren Buffett of tech’ for investing billions during the pandemic. It’s emulating Buffett again with its new 25-year strategy



Warren Buffett wearing a suit and tie: Warren Buffett Getty Images


© Getty Images
Warren Buffett Getty Images

  •  Silver Lake is launching a 25-year investment strategy, The Wall Street Journal reported on Tuesday.
  • The private-equity giant is becoming even more like Warren Buffett with its longer investing timeframe.
  • Silver Lake has invested billions of dollars in Twitter, Airbnb, Expedia, and other businesses during the pandemic, similar to how Buffett handed cash to the likes of Goldman Sachs and General Electric during the 2008 financial crisis.
  • The firm has also emulated Buffett by lending money at lofty interest rates and securing equity warrants.
  • Visit Business Insider’s homepage for more stories.

Silver Lake pulled from Warren Buffett’s playbook when it injected cash into ailing companies during the coronavirus crash this year. The private-equity giant is emulating the famed investor once again with the launch of a 25-year investment strategy.

Loading...

Load Error

Abu Dhabi’s sovereign-wealth fund, Mubadala, is acquiring a sub-5% stake in Silver Lake and contributing $2 billion to the new fund, The Wall Street Journal reported, citing people familiar with the matter.

Silver Lake, which manages more than $60 billion in total assets, has a quarter of a century to employ Mubadala’s cash and realize any gains — more than double the usual 10-year timeframe for private-equity funds, The Journal said.

Read More: UBS says the chances of a Democratic sweep have risen to 50% as Trump and Biden square off in their first debate. These 9 assets will help investors profit if a blue wave comes crashing in.

Buffett, the billionaire CEO of Berkshire Hathaway, has championed long-term investing for decades and held stocks such as Coca-Cola for more than 30 years. “Our favorite holding period is forever,” Buffett wrote in his 1988 shareholder letter.

Silver Lake hasn’t just adopted a Buffett-esque investment horizon, it has also taken up his mantle