Bloomberg Ukraine devalued the official hryvnia exchange rate to protect its foreign-currency reserves as Russia’s invasion ravages the economy. The National Bank of Ukraine (NB) also held its main interest rate unchanged at 25% on Thursday and said that its monetary and exchange-rate policies are aimed at easing pressure on the local currency. It set the hryvnia rate at 36.5686 …

  Bloomberg CDH Investments, an alternative investment fund manager focused on China, has hired top Asian dealmaker Alex To as its new chief executive officer, according to people familiar with the matter. To, until recently the co-head of Bank of America Corp’s (BofA) Asia Pacific investment banking, will also become a partner of the fund, one of the people said. …

  Bloomberg Goldman Sachs Group Inc plans to slow hiring and reinstate annual performance reviews as the Wall Street bank looks to rein in expenses. “Given the challenging operating environment, we are closely re-examining all of our forward spending and investment plans to ensure the best use of our resources,” Chief Financial Officer Denis Coleman said on a conference call …

  Bloomberg European stocks steadied with US equity futures on Thursday as investors braced for the European Central Bank’s first interest rate hike in 11 years, while Russia resumed sending gas to Europe through a key pipeline, dispelling investors’ worst fears. The Stoxx Europe 600 Index and the euro recouped losses following the resignation of Italy’s Prime Minister Mario Draghi. …

  Bloomberg India is best positioned among emerging nations to withstand a global recession, as a thriving domestic market makes it less dependent on exports, according to US-based GQG Partners LLC. The firm has more than $7 billion invested in India, where favorable demographics are driving local consumer demand, Sudarshan Murthy, a portfolio manager, said in an interview. GQG’s upbeat …

Bloomberg The European Union proposed that the bloc cut its natural gas consumption by 15% over the next eight months in a plan that would affect all households, power producers and industry. The move reflects mounting concern that Russia will halt gas exports to the region in retaliation for sanctions following its invasion of Ukraine. A cutoff would threaten EU …

Bloomberg Britain is moving forward with policies to ramp up its nascent green hydrogen industry that uses renewable energy as the government looks for ways to reduce dependence on imports of natural gas. The UK was expected to announce a new round of subsidies for the technology as it meets with industry leaders. Jane Toogood, an executive at Johnson Matthey …

Bloomberg European wind generation is forecast to increase, providing some relief to soaring power prices amid a scorching heat wave sweeping across Europe. German wind generation is expected to more than double from the peak to about 18,000 megawatts, according to a Bloomberg model. That’s still well below the 48,663-megawatt high recorded in February. Higher winds are also forecast in …

  Bloomberg The potential blockbuster deal of this year’s Farnborough air show still hangs in the balance, with Airbus SE growing more confident it can secure a landmark purchase of about 50 A350 wide-body jets from Air India Ltd at the event, and Boeing Co working on a deal for as many as 150 737 Max jetliners. The Indian carrier …

  Bloomberg The UK government said new plans to curb the aviation sector’s carbon output should mean aircraft emissions never again exceed levels seen before the coronavirus pandemic. Improvements to the existing aviation system, including a targeted 2% annual gain in fuel efficiency and steps to modernise airspace to shorten routes, should mean 2019 is remembered as the peak year …