Bloomberg China National Petroleum Corp plans to help complete a refinery in Rio de Janeiro that already cost Brazil’s state-controlled oil company Petrobras $14 billion before it was halted amid a widespread graft investigation. CNPC, as the Chinese producer is known, signed a letter of intent adding the Comperj refinery to a partnership the two companies signed last year. The ...

Bloomberg Saudi Arabia’s sovereign wealth fund is considering a plan to inject up to $300 million into a troubled steel pipe factory co-owned by ArcelorMittal, according to people familiar with the matter. The Public Investment Fund is looking at doubling its stake in ArcelorMittal Tubular Products Jubail to 40 percent by buying new shares and converting debt to equity, the ...

Bloomberg BP Plc has emerged as the front-runner to buy BHP Billiton Ltd.’s onshore oil and gas operations in the US, acco- rding to a person familiar with the matter. The London-based oil major has made the highest offer for the assets, which BHP prefers selling in a single package, said the person, who asked to not be identified because ...

Bloomberg Thailand’s finance minister said the nation can refrain from raising its policy interest rate as the currency has weakened at a slower pace than peers and capital outflows are unlikely to pose a major risk. The baht’s recent drop will help boost incomes for the 30 million Thais in the farm sector, Apisak Tantivorawong said in an interview. The ...

Bloomberg South African lender VBS Mutual Bank, which collapsed in March, paid senior officials at the Public Investment Corp. (PIC) to fast-track funding for the lender, the Johannesburg-based Sunday Times said, citing an affidavit by the bank’s former head of treasury Phophi Mukhodobwane. The bank’s former treasurer was instructed to deliver a suitcase filled with 5 million rand to a ...

Bloomberg Goldman Sachs Group Inc. tapped former Harvard University president Drew Faust as a director, making her the third woman on an expanded 12-member board. Faust, 70, starts as an independent director this month after an 11-year tenure at Harvard, the New York-based bank said in a statement. She will be a part of the governance, public responsibilities and risk ...

Bloomberg The Reserve Bank of Australia (RBA) is among financial regulators globally seeking to ensure payment systems that handle retail transactions are more resilient and secure as fewer people carry cash, Assistant Governor Michele Bullock says. “The resilience of the electronic retail payment systems is becoming quite critical to the smooth functioning of economies,” Bullock, who overseas the financial system ...

Bloomberg SIX, the owner of Switzerland’s securities exchange in Zurich, is creating platform for trading digital assets, boosting a nascent industry that some countries are trying to suffocate. The new platform will offer a “fully integrated, end-to-end trading, settlement and custody service,” the world’s first to do so, the bourse said in a statement. The parent exchange, regulated by Finma ...

Bloomberg As indignation grows over what may be the biggest financial crime saga in modern Danish history, politicians are looking for ways to ensure the country’s largest bank isn’t let off the hook. Danish Business Minister Rasmus Jarlov says he wants to focus more effort on finding out just how much money Danske Bank A/S made on illicit dealings amid ...

Bloomberg Airbus SE CEO Tom Enders ratcheted up his criticism of the UK government over its handling of Brexit talks as PM Theresa May prepares to hold a key meeting of ministers aimed at thrashing out a common position on the issue. May’s administration has “no clue or consensus on how to execute Brexit without severe harm,” Enders said. The ...