One could almost feel sorry for that decidedly unloved crowd known as pipeline operators. Except they keep finding ways to make it really hard. Tallgrass Energy has received a buyout offer from an investor group led by Blackstone Group. This follows a deal in March in which the group took a controlling stake in Tallgrass. Things haven’t gone well since ...

Tech billionaires Jack Ma and Elon Musk can’t agree whether artificial intelligence (AI) is going to take over the world. Only one of them is what we might think of as a tech guy, and it’s that difference that means the other is likely to be right. Musk, a physicist by training, is a well-known AI radical who sees the ...

Bloomberg US equity-index futures rallied alongside European and Asian stocks as traders cheered a reduction in political tension from Italy and Britain to Hong Kong. Treasuries and gold retreated, while the dollar slipped. Contracts on the three major American share gauges jumped, signalling stocks will rebound from declines. All industry groups in the Stoxx Europe 600 index advanced, almost erasing ...

Bloomberg The pound rallied 1 percent and gilts slid as investors saw a lower risk of a no-deal Brexit following a defeat for the government in parliament. Sterling led gains among Group-of-10 peers and UK stocks also gained as lawmakers were expected to vote on Wednesday to force Prime Minister Boris Johnson to delay Brexit by three months. Johnson retaliated ...

Bloomberg Europe’s top banking executives ratcheted up criticism of negative interest rates ahead of a key European Central Bank (ECB) meeting, warning of severe consequences to asset prices and the broader economy. Deutsche Bank AG Chief Executive Officer Christian Sewing warned that more monetary easing by the European Central Bank, as widely expected next week, will have “grave side effects” ...

Bloomberg Two major UK lenders warned that a last-minute rush by compensation-seeking customers will make the most expensive scandal in British banking even costlier. Royal Bank of Scotland Group Plc said it plans to set aside as much as 900 million pounds ($1.1 billion) more for claims related to payment protection insurance (PPI) that customers didn’t want or need. The ...

Bloomberg Goldman Sachs Group Inc enlisted another investment banker in the effort to revive its trading unit. Marc Nachmann was named co-head of the firm’s trading division, replacing Marty Chavez, who will leave the firm at the end of this year. Nachmann, a 25-year veteran of the firm, has been co-head of the investment banking business since 2017. David Solomon, ...

Bloomberg Argentine banks are willing to pay top dollar to hold onto their customers’ greenbacks. As the country’s financial crisis deepens, savers are withdrawing their dollar deposits from their accounts. But the banks are striving to retain them by paying the highest returns in more than 3 years, while the Central Bank adopts measures to provide liquidity and guarantee supplies ...

Bloomberg Two former London investment bankers appeared in court in Germany’s first trial targeting a complex trading strategy that racked up massive tax losses for the nation’s treasury. The British men, who can only be identified as Martin S, 41, and Nicholas D, 38, appeared in a court in the city of Bonn, charged with helping to orchestrate so called ...

Bloomberg Cathay Pacific Airways Ltd Chairman John Slosar followed the chief executive officer in resigning after the carrier faced scrutiny from China for its employees’ involvement in the anti-Beijing protests in Hong Kong. Slosar, 63, will be replaced by Patrick Healy, a 31-year veteran at parent Swire Group, Cathay said on Wednesday in a filing. The changes are scheduled to ...