News

  Bloomberg Serbia’s central bank left borrowing costs unchanged for a third month, refraining from easing ahead of the U.K.’s vote on whether to leave the European Union and the formation of a new government following April snap elections. The National Bank of Serbia left its one-week repurchase rate unchanged at 4.25 percent, according to a statement published on its ...

  Bloomberg Both sides in the campaign for the U.K.’s referendum on membership of the European Union turned their fire on tax dodging on Tuesday, while disagreeing on the best way to tackle it. The Vote Leave campaign said EU rules have hampered U.K. government attempts to crack down on corporate-tax avoidance, but the “Remain” side said companies are more ...

  Bloomberg A Breguet pocket watch owned by a general who helped Napoleon Bonaparte to power was sold for more than $3 million in a $19 million Christie’s sale of rare timepieces as the Geneva spring auction season revved up. The Breguet No. 217, a self-winding timepiece that features a day and month calendar, was first sold in 1800 to ...

  Bloomberg U.K. inflation unexpectedly slowed in April, highlighting the struggle Bank of England policy makers face to revive price growth. The rate fell to 0.3 percent from 0.5 percent in March, driven lower by the cost of air fares and clothes, the Office for National Statistics said in London on Tuesday. Inflation hasn’t been lower since last year and ...

  Bloomberg Oil traded near a seven-month high on speculation that U.S. crude stockpiles declined last week while supply losses in Canada and Nigeria whittled away the global excess. West Texas Intermediate was little changed in New York, while Brent erased gains as it neared $50 a barrel for the first time since November. Inventories probably fell by 3.5 million ...

  Bloomberg Rockhopper Exploration Plc confirmed potential oil resources in a discovery in the Falklands basin, sending its shares higher. An independent audit showed that the best estimate of contingent resources — also known as 2C resources — at the Sea Lion complex came in at 517 million barrels, of which London-based Rockhopper’s share is 258 million barrels, it said ...

  Bloomberg Hillary Clinton’s call to raise the minimum wage for disabled Americans who earn pennies per hour has families and caregivers fiercely debating whether the real benefit of the jobs comes from pay or an intangible sense of self-worth. The lower pay, permitted by a policy in place since 1938, has been scrapped for federally contracted employees, and Clinton ...

  Bloomberg A new fund to stabilize the price that coffee farmers in Colombia receive for their beans may be announced as soon as next month and start operating in 2017, potentially protecting farmers and allowing them to produce profitably at lower international prices. The fund is intended to moderate sharp price drops in the world’s largest producer of mild ...

  Bloomberg Gerdau SA fell the most among peers after police indicted more than a dozen people, including its chief executive officer, for their alleged involvement in a tax evasion scandal linked to Brazil’s No. 2 steelmaker. Shares in Gerdau fell 7.1 percent in Sao Paulo, the steepest loss among 82 members of the Bloomberg World Iron Steel Index, which ...

  Bloomberg Altos Hornos de Mexico SA, the steelmaker known as Ahmsa, is exiting the bankruptcy process in Mexico after 17 years of court protection. A Mexican judge ordered the company’s suspension-of-payments proceedings to be lifted and approved a plan for creditors, effective immediately, the company said in a statement Monday. The court-approved exit calls for Ahmsa to repay $1.7 ...