Bloomberg Russia’s crude producers removed their first 42,000 barrels per day from the market in January under the OPEC+ output-cut agreement, slightly below earlier estimates of Energy Minister Alexander Novak. Russia produced 48.11 million tons of crude oil, according to data from the Energy Ministry’s CDU-TEK unit. This equals 11.376 million barrels per day compared to the October baseline of ...

Bloomberg Federal Reserve Bank of St. Louis President James Bullard and Dallas Fed chief Robert Kaplan applauded the central bank’s decision to take a pause on interest-rate increases in separate appearances and said patience was the right approach for the US economy. “I think it set us up for a very good couple of years here,” Bullard said in a ...

Bloomberg DWS Group, the German asset manager taken public by Deutsche Bank AG in March, is wrestling with withdrawals, though its executives say the worst is behind them. Investors pulled 7 billion euros ($8 billion) in the fourth quarter of 2018, taking total redemptions last year to more than 22 billion euros. To make matters worse, the volatility that roiled ...

Bloomberg Deutsche Bank AG’s top ranks are bracing for a potential government-brokered merger with rival Commerzbank AG by mid-year as they run out of time to turn Germany’s largest bank around. Executives are concerned such a deal may become their only option if there’s no clear improvement in the first three months of 2019, people briefed on their thinking say. ...

Bloomberg Barclays Plc won permission to transfer large parts of its business from Britain to its Dublin-based subsidiary if needed, with a judge disclosing that the Brexit-driven move could affect thousands of the bank’s corporate clients. The London-based bank had requested court approval for the potential move, which was granted by High Court Judge Richard Snowden. Snowden described the move ...

Bloomberg India’s shadow lenders are facing a fresh threat, just as they were starting to recover from the fallout of landmark defaults last year by one of their own. The lenders could come up against a new cash shortage, if concerns about debt at conglomerate Essel Group ricochet through India’s money markets, according to Citibank and Credit Suisse. There’s reason ...

Bloomberg HNA Group Co., the debt-laden Chinese conglomerate on a selling spree, agreed to dispose of its last plot of land near Hong Kong’s former Kai Tak airport, ending ambitions for a massive residential project in the world’s most expensive property market. A unit of Wheelock & Co. agreed to buy the land from HNA’s Hong Kong International Construction Investment ...

Bloomberg Hong Kong’s limited supply of land has forced it to look at unusual and costly options to address a chronic homes shortage in the world’s least affordable housing market. One of the ideas the government is considering is to build four artificial islands in its central waters. This would cost HK$500 billion ($63.7 billion), the South China Morning Post ...

Bloomberg Apple Inc. plans to launch iPhones with a more-powerful 3-D camera as soon as next year, stepping up the company’s push into augmented reality, according to people familiar with the plans. The rear-facing, longer-range 3-D camera is designed to scan the environment to create three-dimensional reconstructions of the real world. It will work up to about 15 feet from ...

Bloomberg Nokia Oyj forecast a stagnant market for phone equipment this year, sending shares down the most in six months as investors looking for signs it could benefit from a crackdown on Chinese rival Huawei Technologies Co. were disappointed. Nokia also projected weaker-than-expected 2019 earnings as carriers delay buying the 5G systems that are key to its growth, including in ...