Bloomberg Saudi Arabia shot down rumours it might cut oil production, but reaffirmed its commitment to an output freeze that could restrict crude flows to market this summer. With the world’s biggest exporter already pumping near-record volumes, that may not matter. Last week’s pledge to cap production at January levels along with Russia, Venezuela and Qatar — repeated on Tuesday ...

BLoomberg The pound sank below $1.39 for the first time since March 2009, while a gauge of anxiety in currency markets showed traders are preparing for even more extreme moves. Options traders are paying the most to protect against price swings in six months’ time compared with historical volatility since Lehman Brothers Holdings Inc. collapsed during the 2008 credit crisis. ...

London / Bloomberg Thirteen former senior military officers insisted Britain should stay in the European Union on Wednesday, saying the country was “stronger” as a member of the 28-nation bloc in a “dangerous world”. Writing ahead of a membership referendum on June 23, the retired military chiefs said the EU helped protect the country against threats from IS extremists and ...