Finance Minister Lou Jiwei speaks of lower economic growth, risk for tankers

Whether his forecasts will be realized or not is yet to be seen; car sales growth remains robust, which Market Realist updates on a regular basis. However, this is a potential riskbecause it appears the new government is able to tolerate lower economic growth. If a 7% economic growth does happen, it will be negative for tanker firms earnings. This includesTeekay Tankers Ltd. (TNK), Tsakos Energy Navigation Ltd.

AstraZeneca finance chief Lowth to quit for BG Group

“INTENSE, DRIVEN” BG, which like Scottish Power is formerly state-owned, also has a new CEO, Chris Finlayson. Lowth will help Finlayson with the company’s focus on driving profit growth through its exploration and liquefied natural gas businesses and on selling or partnering on more of its discoveries. “He brings with him a great combination of finance, capital allocation, value-based planning, portfolio management and strategy skills – critical skills as we execute our strategy to deliver long-term value to shareholders and focus on excellence in execution,” Finlayson said in a statement. Lowth, who worked from 1987 to 2003 for management consultancy McKinsey, took on the job of finance director at Scottish Power after the company’s decision to back out of its unsuccessful U.S. acquisition, PacificCorp.


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