Bloomberg Royal Philips NV is seeking to raise as much as €970 million ($1.1 billion) from the initial public offering of a 25 percent stake in its lighting unit in Amsterdam after a private sale process didn’t result in a deal. Philips is planning to sell 37.5 million shares at a range of between €18.50 and €22.50 per share, …

  Bloomberg Russian assets, which are among the most volatile in the world, are bringing hedge fund managers the best returns in emerging markets. Funds with a geographical focus on the country have gained an average 29 percent since the start of 2015, more than any others geared toward major developing nations, according to industry tracker eVestment. That’s 8 times …

  Bloomberg Oil climbed to a six-month high as Goldman Sachs Group Inc. said the market moved into a deficit earlier than expected due to disruptions in Nigeria and higher demand. Futures rose as much as 2.1 percent in New York. The shift to a supply deficit this month happened one quarter earlier than forecast, Goldman Sachs said in a …