Bloomberg At least 20% of shut-in Canadian production is being restored, just months after the price crash forced producers in Alberta’s oil sands to slash up to 1 million barrels a day of output. Cenovus Energy Inc, Husky Energy Inc and Baytex Energy Corp are among companies that have resumed shut-in production as prices rise above $40 a barrel. Imperial ...

Bloomberg UK house prices have slipped for a fourth month in June as the country started to emerge from lockdown. Average house prices fell 0.1% to an average of $300,000, Halifax said, the longest run of declines in a decade. From a year earlier, prices gained 2.5%. New mortgage inquiries rose 100% on the month. Britain is slowly lifting the ...

Bloomberg European stocks erased losses and US equity futures climbed as investors weighed prospects for the economy to recover during the pandemic. Telecom and health-care shares were among the biggest gainers in Europe. HSBC Holdings Plc slumped after a report that some of Donald Trump’s advisers proposed a move to destabilize Hong Kong’s currency peg to the dollar as a ...

Bloomberg India stocks swung as investors weighed the gradual resumption of business activity against a steady rise in new coronavirus cases, ahead of the quarterly earnings season starting on Thursday. The S&P BSE Sensex was little changed at 36,714.87, at 10:05 am in Mumbai, as was the NSE Nifty 50 Index after both gained at least 0.4%. The measures have ...

Bloomberg Chinese investors are loading up on leverage to speculate in the stock market at the fastest pace in more than five years. They pushed outstanding margin debt on domestic exchanges to more than 1.2 trillion yuan ($171 billion). The figure rose 36.7 billion yuan from July 3, the biggest increase since January 2015. The surge in leverage shows how ...

Bloomberg Oil dropped to trade near $40 a barrel before US government data that’s forecast to show gasoline stockpiles increased, while rising virus infections raised concern stricter controls will be extended. US gasoline supplies expanded by one million barrels last week, according to a Bloomberg survey, while nationwide crude stockpiles are projected to have fallen for a second week. Official ...

Bloomberg Hotter temperatures by 2100 could slash global GDP by more than 20%, according to new research, and the way the economic impact will be distributed threatens to turn climate change into an enormous driver of worldwide inequality. A new analysis of the relationship between heat and economic performance released this week by Oxford Economics, a global forecasting firm, identified ...

Bloomberg Eni SpA became the latest oil company to cut its long-term price assumptions, saying the coronavirus pandemic would have a lasting impact on the industry. Eni now sees benchmark Brent crude at $60 a barrel in 2023 real terms, down from a previous estimate of $70, the company said. Rivals Royal Dutch Shell and BP ve also cut price ...

Bloomberg India will stop power equipment imports from China, power minister Raj Kumar Singh said, amid simmering border tensions between the two neighbours. The South Asian nation has the capability to manufacture all kinds of electricity equipment, Singh said at a meeting with energy officials of states, encouraging them to promote local procurement. China accounted for $2.8 billion of the ...

Bloomberg China’s equity market is firmly in the spotlight after an almost unprecedented rally that helped lift global stocks to a one-month high. The speed of the past week’s gains in China is in many ways unseen since the stock bubble that burst five years ago. Monday’s surge alone added more than $460 billion to Chinese stock values, behind just ...