Bloomberg Another darling of the Trump administration is poised to gain from the Iran deal breakup as oil surges: Natural gas exports. With the move to curb Iran’s oil output encouraging more shale drilling, prices for natural gas produced alongside crude in West Texas could crater, falling to zero some days, according to Tudor Pickering Holt & Co. Already, the ...

Bloomberg General Electric Co. will be required to buy Alstom SA’s stakes in three energy joint ventures for 2.59 billion euros ($3.1 billion), closing a lengthy chapter in the massive 2015 tie-up that has become a headache for the beleaguered US manufacturer. Alstom said that it will exercise its options to exit the renewable energy, grid and nuclear businesses that ...

Bloomberg European Central Bank President Mario Draghi stepped up his call for a euro-area fund to make sure countries don’t drift apart in future crises. “We need an additional fiscal instrument to maintain convergence during large shocks, without having to overburden monetary policy,” he said at a European Union event in Florence, Italy. “Its aim would be to provide an ...

Bloomberg Several Mexican banks experienced large cash withdrawals in recent weeks after possible cyber attackers infiltrated some financial institutions, triggering unauthorised money transfers, the central bank said in an interview with Bloomberg. Banco de Mexico has zeroed in on five financial institutions whose external connection to the central bank’s electronic payment system was compromised, Lorenza Martinez, the central bank’s head ...

Bloomberg A legal battle is heating up over scraps of a synthetic securitisation structured before the global financial crisis, highlighting risks in derivatives trades that are proliferating again. Deutsche Bank AG and Morgan Stanley are fighting over 36 million euros ($43 million) that wasn’t repaid to junior noteholders. The deal matured in December 2016 and was designed to provide credit ...

Bloomberg Unprecedented growth restrictions imposed on Wells Fargo & Co. will stay in place until the Federal Reserve’s board agrees that the bank has made enough progress in fixing flaws that led to customer-abuse scandals over the past two years, Fed Chairman Jerome Powell said in a letter to Senator Elizabeth Warren. In a letter to Warren dated May 10, ...

Bloomberg Luxembourg’s citizens can quickly impress with their language skills, switching with ease between their local tongue and German, French and English. But insurers, investment firms and banks hoping to open post-Brexit outposts in one of the European Union’s most important financial hubs may be in for a surprise. Head hunters say there simply aren’t enough candidates in and around ...

Bloomberg The sun never sets on Walmart Inc.’s empire, thanks to its network of stores across five continents. But in the span of 10 days, chief executive Doug McMillon has begun dramatically redrawing the retailer’s map, and there’s likely more to come as it places bets to remain on top. “All of a sudden, everything is in play,” said Dave ...

Bloomberg United Continental Holdings Inc. is chopping flights between the US and Mexico, saying travel demand has waned. Service between Los Angeles and Mexico City will end on October 4, the airline said. United also will halt flights this summer from the US to the Pacific beach resorts of Huatulco and Mazatlan, and to the Gulf Coast oil town of ...

Dubai/ Emirates Business City, University of London’s Dubai Centre has announced the launch of a Master of Science (MSc) in Airport Management for junior managers looking to boost their career prospects in today’s fast-growing airport industry. Starting in September, this course has been designed to cater to the growing demand for skilled aviation professionals in the Middle East and around ...