Bloomberg Returning from vacation is a drag — in life, in stocks. True to form, September started with the worst S&P 500 retreat since June. Anyone hoping last month’s momentum would persist was disappointed. After hitting a record on August 29, the index has fallen on five of six days, with the twin tech pillars of semiconductors and the FAANGs …

Bloomberg China’s currency outperformed its Asian emerging market peers this week, as state-owned banks were said to have squeezed short sellers last week before a potential wave of new US tariffs. After five months of declines, the offshore yuan was poised to become the strongest emerging market Asian currency in the first week of September. State-owned banks bought yuan forward …

Bloomberg India’s efforts to sell a $1.6 billion stake in Oil & Natural Gas Corp. has run into concerns that government policies on fuel pricing would weigh on the state-run explorer’s share price, according to people with knowledge of the situation. Investors and fund managers that met with Indian government officials during a US roadshow last month voiced concern that …

Bloomberg Duke Energy Corp., one of the largest US utility owners, is giving up on building new nuclear plants. For the first time since 2005, the company didn’t include the prospect of adding more reactors to its fleet in long-term plans filed with state regulators. The move comes about a year after Duke cancelled plans to build a nuclear plant …

Bloomberg Equatorial Guinea may exclude oil-service companies TechnipFMC Plc, Subsea 7 SA and Schlumberger Ltd. from the country because they aren’t complying with local-content rules over training and jobs, said a government official. Major oil companies could be asked by the end of September to cancel their contracts with those service providers and issue new tenders, the official said, asking …

Bloomberg I Squared Capital, the private equity firm led by former Morgan Stanley executives, is considering a sale of Irish power producer Viridian Group Holdings Ltd., people with knowledge of the matter said. The infrastructure-focussed investment firm is sounding out potential buyers to gauge their interest in Viridian, said the people, who asked not to be identified as the information …

Bloomberg Mario Draghi will only just manage to raise the European Central Bank’s interest rates before his term as president ends in October 2019 amid continued risks from US tariffs and Italian politics, according to a Bloomberg survey of economists. With asset purchases about to conclude in December, most respondents predict euro zone policy makers will increase the deposit rate …

Bloomberg Masayoshi Son is asking Wall Street banks to open their pocketbooks if they want in on what could be the biggest-ever initial public offering, according to people familiar with the matter. SoftBank Group Corp. has told potential underwriters seeking a large role in the blockbuster IPO of its Japanese wireless unit that they should offer to lend to other …

Bloomberg Next month, the euro zone will get its eighth global systemically important bank, Nordea Bank AB. Its management is now asking authorities in the bloc to consolidate anti-money laundering defenses after a spate of scandals rocked confidence in the finance industry and its regulators. Julie Galbo, chief risk officer at Nordea and a former regulator at the Danish Financial …

Bloomberg China’s banking regulator is handing out fines at a record pace, as it battles a build-up of financial risk. The China Banking and Insurance Regulatory Commission, along with its predecessor agency, has issued fines worth about $585 million since Chairman Guo Shuqing took charge of the watchdog in early 2017, compared with a total of some 1 billion yuan …