Bloomberg Oil prices plunged below $24 a barrel for the first time in almost 18 years after Saudi Arabia doubled down in its price war with Russia, vowing to keep production at a record high “over the coming months.” For the last 10 days, Riyadh has issued nearly daily statements raising the stakes in its battle with Moscow, first announcing …

Bloomberg European banks took $130 billion made available by the US Federal Reserve on Wednesday, helping ease the funding stress from the coronavirus pandemic. Lenders from the euro zone borrowed the bulk of the money — $112 billion in operations coordinated by the European Central Bank (ECB). That’s the biggest use of the crisis-era swap lines since the global financial …

Bloomberg Tenova SpA, a unit of the Italian billionaire Paolo Rocca’s Techint Group, has appointed legal and forensic-accountancy firms to assess its dealings with South Africa’s Eskom Holdings SOC Ltd after identifying payments that caused the company “concern.” A contract between the mining and manufacturing-services provider and state-owned Eskom is one of a number of agreements, including ones frm Alstom …