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Bloomberg ­­­­­­­­­­­­­­­ Brexit negotiations are heading for a catastrophic breakdown unless the European Union signals this week that it will allow talks to move on to trade, according to a person familiar with the UK government’s position. Without a clear sign that negotiations will progress to trade and transition arrangements by December at this week’s summit of European leaders, the ...

Bloomberg PSA Group, the French automaker that purchased the Vauxhall and Opel brands, plans to cut 400 jobs at a UK plant in Ellesmere Port to adapt production to falling sales. The site needs to improve its competitiveness to match the company’s plants in France, a PSA spokesman said. The uncertainty about the future trade deals between the UK and ...

Bloomberg Shares of Convatec Group Plc, the medical equipment maker whose initial public offering was London’s largest during 2016, slumped as supply shortages caused by the recent hurricanes in the Caribbean weighed on third-quarter performance. The Reading, UK-based company said its advanced wound care division experienced disruptions to manufacturing in Haina, Dominican Republic, having earlier warned of delays to a ...

Bloomberg Facebook Inc. is looking to hire people who have national security clearances, a move the company thinks is necessary to prevent foreign powers from manipulating future elections through its social network, according to a person familiar with the matter. Workers with such clearances can access information classified by the US government. Facebook plans to use these people— and their ...

Bloomberg Irish authorities warned some of the worst weather conditions to hit the country in 50 years will endanger lives, as Storm Ophelia’s remnants batter the coast with “extreme” conditions. Met Eireann, the nation’s weather service, extended its most severe warning nationwide for the first time ever, with Ophelia expected to bring winds in excess of 80 kilometres an hour ...

Bloomberg The steering wheel may be slowly going out of style, but no one seems to have told the Ferrari set. Purchases in this rarified strata of the auto industry are accelerating far more quickly than those of the pedestrian cars and crossovers catering to the Costco crowd. Now, it’s poised to shift into an even higher sales gear. Over ...

Bloomberg Oil demand will grow at a “healthy pace” over the next five years as renewables show the fastest expansion of any type of energy, the head of the Organization of Petroleum Exporting Countries said. Crude demand will climb an average 1.2 million barrels a day through 2022 and slow to 300,000 barrels a day in 2035 to 2040, OPEC ...

Bloomberg Crude extended gains from the highest close in two weeks as speculation mounted over potential output disruptions in a region that’s home to Iraq’s oldest producing oil fields. Futures in London rose as much as 1.7% after adding 2.8% last week. Iraqi soldiers seized facilities including a refinery after mobilizing to take fields near the northern city of Kirkuk ...

Bloomberg Saudi Arabia may cut energy subsidies more gradually and take longer to balance its budget, Finance Minister Mohammed Al-Jadaan said, as the kingdom seeks to soften the impact of its drive to repair public finances. The prices of some subsidized domestic energy products will rise to international levels later than previously envisaged, Al-Jadaan said in an interview in Washington. ...

Bloomberg It’s been a bad year for oil explorers in Norway’s Arctic: a record campaign in the Barents Sea yielded little; the most exciting well in years proved to be a flop; and Norwegians grew increasingly skeptical about the industry that made them rich. But companies led by Norway’s state-controlled Statoil ASA and Sweden’s Lundin Petroleum AB aren’t about to ...