(Bloomberg) -- The commodity trading industry reaped its second-best year ever in terms of profits, banking over $100 billion and building up a mountain of...
-- The commodity trading industry reaped its second-best year ever in terms of profits, banking over $100 billion and building up a mountain of cash to spend on assets and breaking into new markets.Boeing’s Pain Spreads to Travelers as Airlines Cut Back on Plans
Still, disruptions and supply shortages of diesel and fuel oil offset lower Russia-related volatility in crude oil, while margins trading gas and power also remained relatively high. “Traditionally this position in energy security wouldn’t have been held by an independent trader,” Perkins said, but they’re being “drawn into that role.”Meanwhile, through share buybacks and dividend pay-outs, the executives who own shares or are partners in these mostly private companies, have also become multi-millionaires in the process. That’s helping accelerate a shift at the top of some of these firms’ as minted traders retire, passing management on to a new guard.
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