Bloomberg As higher energy prices buoy currencies of commodity producers, one is swimming against the tide. Even after losing more than half its value against the dollar in two devaluations last year, Azerbaijan’s manat is struggling to find a bottom. In fact, it just had its worst month since the height of the crisis in oil markets in January. …

    Bloomberg The world’s biggest iron ore shipper cut its outlook for prices next year by 20 percent as the global market remains well supplied, loss-making miners are holding out and steel output in China will shrink further. Iron ore is seen at US$44.80 a metric ton next year, Australia’s Department of Industry, Innovation and Science said in a …

  Bloomberg President Barack Obama said he expects the U.K. will abide by the wishes of British voters and carry out plans to leave the European Union, and urged both sides to conduct the departure with minimal disruption. “We have to assume that a referendum having been passed with a lot of attention” and relatively high participation rate “is going …