Bloomberg Nigeria’s inflation rate rose in November as food prices continued climbing following border closures. Consumer prices rose 11.9% from a year earlier compared with 11.6% in October, the Abuja-based National Bureau of Statistics said in a report published on Tuesday. The median of three economists’ estimates in a Bloomberg survey was 11.8%. Nigeria’s central bank held its benchmark rate …

Bloomberg The Federal Reserve Bank of New York’s operation to inject cash into the financial system over the end of the year was oversubscribed on Monday, an indication that demand for funding through the beginning of 2020 remains ravenous. Primary dealers submitted $54.25 billion in bids for the Fed’s 32-day term repo operation, which matures January 17. That was more …

Bloomberg India this week joined a select club of countries offering fund transfers around the clock, a move that will give banks more flexibility to manage their liquidity requirements, the central bank said. The National Electronic Funds Transfer (NEFT) sees transactions worth 800 billion rupees ($11.3 billion) daily and the round-the-clock service is expected to boost online transactions for customers …

Bloomberg The Credit Suisse Group AG spying incident surrounding the departure of former wealth management head Iqbal Khan might not be an isolated case. The bank may have spied on former Chief Human Resources Officer Peter Goerke, Swiss newspaper NZZ reported, citing documents it obtained as part of an investigation. A former Credit Suisse employee in the US also recently …

Bloomberg Coal consumption is set to rise in the coming years as growing demand for electricity in developing countries outpaces a shift to cleaner sources of electricity in industrialised nations. While use of the most polluting fossil fuel had a historic dip in 2019, the International Energy Agency (IRA) anticipates steady increases in the next five years. That means world …

Bloomberg Bankrupt utility giant PG&E Corp has removed from its $13.5 billion settlement with wildfire victims the requirement that California Governor Gavin Newsom sign off on its restructuring plan. PG&E reached an agreement with representatives of the victims of fires ignited by its equipment to eliminate the provision after Newsom said last week that the power company’s proposed reorganisation plan …

Bloomberg South Africa’s government revived a so-called Energy War Room to tackle the nation’s electricity crisis, as it brought forward the date when the incoming chief executive officer of the state power utility will start work. The team, to be headed by Deputy President David Mabuza, will seek to avoid a repeat of a nine-day blackout earlier this month that …

Bloomberg Stocks declined in Europe and US index futures dipped on Tuesday as the global rally in equities eased, with the sugar rush of a partial trade deal between the two largest economies fading and investors on the hunt for fresh catalysts. Treasuries were steady. Declines in banks and consumer-goods companies undercut European stocks. Unilever tumbled after a sales-growth warning …

Bloomberg Unilever slumped after Chief Executive Officer Alan Jope backed away from his predecessor’s growth targets as consumers around the world jilt mainstream brands. The maker of Ben & Jerry’s ice cream and Dove soap said sales gains will be slightly below guidance for 2019 and in the lower half of its multiyear range of 3% to 5% in 2020. …

Bloomberg Airlines could come under further financial pressure should Boeing Co. go ahead with a production halt of the grounded 737 Max, with any prolonged delays in jet deliveries raising their operating costs. Carriers are paying higher rates to lease planes to make up for the loss in capacity, while delays to their expansion plans are holding back revenue growth, …