Bloomberg Saudi Arabia is cracking down on banks that are lowballing interest rate submissions, people with knowledge of the matter said. The Saudi Arabia Monetary Agency has written to banks instructing them not to submit levels to the Saudi Interbank Offered Rate that are below what they’re actually willing to lend at, four people said, asking not to be ...

  California / Bloomberg GE Ventures bought a stake in Germany’s Sonnen GmbH to boost its presence in the fast-growing market for battery systems built to store solar power. GE’s unit is paying a “mid double-digit million-euro” sum for a minority stake in the company, according to a statement by Wildpoldsried, Bavaria-based Sonnen. The company said other investors are considering ...

  Oakland / Tribune News Service Southwest Airlines has hit 100 daily departures from Lambert-St. Louis International Airport. The airline is the airport’s dominant carrier, with about half the market share, and has its own terminal. Its newest nonstop flights are to Oakland, Calif., Portland, Ore., and Cleveland. St. Louis passengers already could get to Cleveland and Portland directly on ...