Bloomberg Global oil markets notched up a number of milestones this year that echoed the story of the past decade: the world has shifted from an era of supply tightness to plenty. What distinguished the developments of 2019 was not just how big they were but often how little impact they had. From the world’s biggest-ever initial public offering to ...

Bloomberg A Stanford University professor whose research helped underpin the US Democrats’ Green New Deal says phasing out fossil fuels and running the entire world on clean energy would pay for itself in under seven years. It would cost $73 trillion to revamp power grids, transportation, manufacturing and other systems to run on wind, solar and hydro power, including enough ...

Bloomberg From a 35-basis point interest rate cut to embracing a Federal Reserve-style ‘Operation Twist’, Reserve Bank of India (RBI) Governor Shaktikanta Das is pushing the boundaries of conventional central bank policy making to improve rate transmission and spur credit to the economy. The central bank announced it will buy longer-dated debt and simultaneously sell shorter maturity notes in a ...

Bloomberg Indian banks may ask depositors and customers to list their religion, The Times of India reported. The information may be required after the Reserve Bank of India (RBI) made changes to a banking law that allows selected non-residents to open bank accounts and own property, the report said. Amendments to the Foreign Exchange Management Regulations will let immigrant Hindus, ...

Bloomberg Just weeks after Christine Lagarde became the euro zone’s first female central bank chief, neighbouring Britain has chosen to stick with what it’s only ever known for economic policy: men in charge. This month’s decision to install Andrew Bailey as Bank of England (BOE) governor, along with Sajid Javid’s reappointment as chancellor of the exchequer, extend an exclusively male ...

Bloomberg The West African Economic and Monetary Union has agreed with France to a number of changes to the CFA franc currency, including a new name, Ivory Coast’s President Alassane Ouattara said, as the West African bloc inches closer to a split from the French-backed currency. The monetary union will keep its euro peg while moving its currency reserve from ...

Bloomberg Traders at HSBC Holdings Plc and JPMorgan Chase & Co are among those who accessed a high-speed audio feed of Bank of England press conferences, according to the Financial Times, which cited an unidentified person. HSBC and JPMorgan declined to comment to Bloomberg News. Investment banks across the City are trying to establish whether their traders used the feed, ...

Bloomberg The personal data of about 100,000 Singapore defence personnel may have been leaked in yet another cyberattack in the city-state. Sensitive information held by two security force vendors, including full names, identification details, and a combination of contact numbers, email and residential addresses could be included in the potential data exposure, according to a statement published on the ministry’s ...

Bloomberg Mazda Motor Corp is shifting some production of cars destined for the Australian market from Thailand to Japan, citing the adverse impact of a stronger Thai baht, according to the Nikkei newspaper. Assembly of CX-3 sports utility vehicles will be moved to its Yamaguchi factory in southwest Japan this year, the report said, without citing anyone. Mazda has the ...

Bloomberg Kansai Electric Power Co, one of Japan’s regional power utilities, will halt two reactors at its Takahama nuclear power plant north of Osaka because they’re unlikely to meet the government’s anti-terrorism requirements, according to the Mainichi newspaper. Reactors No. 3 and No. 4 will stop operating from next summer, as it has become clear that construction of security measures ...