Bloomberg Top Chinese and US trade negotiators will speak as soon as next week on progress in implementing a phase-one deal after President Donald Trump threatened to “terminate” the agreement if Beijing wasn’t adhering to the terms. Chinese Vice Premier Liu He will be on the call, according to people familiar with the matter. The US will be represented by ...

Bloomberg UK house prices may fall 16% because of the economic upheaval caused by the coronavirus, according to a desktop stress test by the Bank of England (BOE). That decline would be in line with the fall in residential property values during the financial crisis, though the central bank says that banks would not suffer “very material losses in the ...

Bloomberg European stocks climbed alongside US equity futures on Thursday and Asian shares mostly fell as investors sift the latest company earnings and brace for more data that will show the extent of the fallout from the coronavirus. The pound edged higher after a rate decision. The Stoxx Europe 600 Index opened in the green as most national gauges and ...

Bloomberg Hong Kong Exchanges & Clearing Ltd. (HKEX) Chief Executive Officer Charles Li said he’s stepping down after 10 years, adding his departure to the rising challenges for the bourse at a turbulent time for the financial hub. The 59-year-old will continue to lead the exchange until his contract expires in October next year, or leave earlier if a replacement ...

Bloomberg Oil’s rally resumed — after prices doubled over five days — amid optimism that output cuts are easing a huge supply glut and demand losses have bottomed. Futures in New York rose above $25 a barrel after earlier breaking above their 50-day moving average for the first time since January. Russian oil production was down 16% in the first ...

Bloomberg China’s leaders are considering the option of not setting a numerical target for economic growth this year given the uncertainty caused by the global coronavirus pandemic. What may instead be unveiled at upcoming National People’s Congress later this month is a description of goal for gross domestic product growth, one of the people said. Last year target was a ...

Bloomberg Africa’s most populous nation is getting almost nothing from its massive oil wealth. While headline Brent-crude futures have rallied sharply in the past few weeks — rising above $30 a barrel — a glut of Nigerian oil is fetching about $10 less than that. It’s a level that means fiscal revenue for the continent’s biggest economy has cratered. “It’s ...

Bloomberg Suncor Energy Inc is going further into a defensive crouch, cutting its capital-spending plans for a second time and shrinking its dividend payout, as the Covid-19 pandemic hammers crude demand. Capital spending this year will be C$3.6 billion to C$4 billion ($2.6 billion to $2.9 billion), down from an already-reduced range of C$3.9 billion to C$4.5 billion announced in ...

Bloomberg Standing nearly 100 feet tall on the rocky shore of the island Bjorko in southwest Sweden, a white wind tower looks indistinguishable from thousands of similar tubes that help generate clean energy all over the world. But inside is another story. The interior of the tower is a tableau of creamy white boards, soaring into the air like a ...

Bloomberg On the same day Opec-style oil quotas in Texas were pronounced dead on arrival, shale drillers disclosed more supply cuts in response to the crude market collapse. Diamondback Energy, Parsley Energy and Centennial Resource Development became the latest Permian Basin shale explorers to say they were curbing output. A pandemic-fueled crash in oil prices has been so severe that ...