Bloomberg Shell Plc suspended production at a floating liquefied natural gas (LNG) facility off the west coast of Australia after a fire broke out, tightening fuel supplies to Asia right as winter starts to boost consumption. The “small fire” at the Prelude LNG facility was detected and was “quickly contained using a hand-held extinguisher,” Shell said in a statement. …

Bloomberg China’s reopening is disrupting energy markets as the abrupt shift from Covid Zero shutters industry and upends the usual flow of commodities. A dramatic surge in infections is having a short-term impact on the supply chain for solar companies, the China Silicon Industry Association said in a statement. Many manufacturers of the wafers used in solar panels have curtailed …

  Bloomberg C6 Bank, the Brazilian digital lender backed by JPMorgan Chase & Co, is planning to double its loan portfolio to midsize firms as it diversifies beyond retail clients. By the end of next year, C6 hopes to increase its loan book to such companies to more than 3.5 billion reais ($675 million) from about 1.8 billion reais now, …

Bloomberg Brazilian President Jair Bolsonaro signed into law the country’s first framework for cryptocurrency, with ground rules for brokerages that offer crypto as well as the assets’ day-to-day use. Though a formal designation is needed, the central bank is likely to be responsible for regulating and overseeing the new structure, according to the bill’s rapporteurs — the lawmakers who make …

  Bloomberg Japan’s biggest bank sees value in further share buybacks as its $7.5 billion deal to sell a US regional lender adds to a growing cash pile. “We are always looking for growth investment opportunities,” Hironori Kamezawa, chief executive officer of Mitsubishi UFJ Financial Group Inc, said in an interview, adding that the lender will consider acquisitions in Asia …

  Bloomberg Credit Suisse Group AG has filed a criminal complaint against a Zurich financial blog, ratcheting up a legal attack begun over readers’ comments attached to a series of stories it ran about the Swiss bank earlier this year. The complaint, which the blog Inside Paradeplatz confirmed, follows a 265-page civil lawsuit filed over comments that the bank said …

  Bloomberg Nigeria’s currency is poised for its eighth straight day of losses and on track for its longest losing streak since 2020, less than two months before a presidential election. The naira traded at 453.16 to the dollar in the spot market. The currency has dropped 6.3% this year in the official market, where the rate is tightly controlled …

  Bloomberg Global private banks are rushing to hire advisers for India’s rich, as China’s slowdown and a gloomier global outlook turn the nation into a bright spot for wealth management. UBS Group AG, Deutsche Bank AG, and Julius Baer Group Ltd are among firms hiring private bankers to serve clients from the world’s fifth-biggest economy, which has an estimated …

Bloomberg After a rout that rivalled the burst of the US dot-com bubble, things are looking better for Chinese tech stocks in 2023 as regulatory headwinds ease and earnings prospects improve. The sector, once dubbed “uninvestable”, has regained favour among Wall Street analysts and investors as China’s reopening spurs hopes for an economic recovery and a long-standing auditing spat with …

Bloomberg UK stocks suffered record annual outflows in 2022, marking the seventh year in a row that investors have fled the country’s markets. UK equity funds have had $26.3 billion of redemptions so far this year, according to data from EPFR Global. That coincides with a slump of 20% for the domestic-skewed benchmark FTSE 250 Index, the most since 2008. …