Bloomberg A friendly lunch in Ottawa this week between Mark Carney and Prime Minister Justin Trudeau raises an interesting question: How large will the Bank of England (BOE) governor loom in the search for a successor at Canada’s central bank. It’s only a coincidence Monday’s meeting took place a few days after Stephen Poloz announced he won’t seek a second …

Bloomberg The offshore Chinese yuan staged its biggest rally in more than four months as the US reached a trade agreement with China, paving the way to at least a temporary end to tension that has roiled markets all year. The yuan advanced 1.2% to 6.9457 per dollar, the highest since July 31 after trimming a gain of as much …

Bloomberg SoftBank Group Corp has no plans to slow down its multibillion-dollar foray into Latin America. After investing between 6 billion reais ($1.5 billion) and 10 billion reais in 19 firms in the region in 2019, the Tokyo-based firm is planning on potentially making fewer but larger deals in the new year, SoftBank Group International managing partner Andre Maciel told …

Bloomberg Federal Reserve Vice Chairman Richard Clarida brushed aside news of weaker-than-expected retail sales in November and said the US economy looks headed for a solid 2020 based on a strong labour market and a robust consumer. “The US consumer’s never been in better shape in my professional career,” Clarida said in an interview with Fox Business Network, repeating an …

Bloomberg China’s central bank warned property speculators that “homes are for living in” as the regulator pledged to properly regulate the real estate market. The People’s Bank of China also said it will be “flexible” and “appropriate” in setting prudent monetary policy, and will boost financial support to manufacturers and the private sector, according to a statement after a meeting. …

Bloomberg California Governor Gavin Newsom rejected PG&E Corp’s proposed restructuring plan, dealing a major blow to the power giant as it tries to exit the biggest utility bankruptcy in US history. Newsom said in a letter to PG&E Chief Executive Officer Bill Johnson that the utility’s restructuring plan falls “woefully short” of the state’s requirements. The governor said any reorganisation …

Bloomberg The Democratic Republic of Congo will proceed with a smaller version of the Inga III hydropower project and expand the facility over time, President Felix Tshisekedi said. The Inga III dam, which will begin as a 4,800 megawatt plant, will have its capacity increased to 7,500 megawatts and 11,000 megawatts eventually, Tshisekedi told lawmakers in his first state of …

Bloomberg State Grid Corp of China is nearing an agreement to acquire a 49% stake in Oman’s state-owned transmission company in the first major privatisation by the Middle East’s largest non-OPEC oil producer, people with knowledge of the matter said. The Beijing-based company will acquire the stake in a deal that values Oman Electricity Transmission Co at about $2 billion, …

Bloomberg Worsening tensions between Boeing Co. and the Federal Aviation Administration (FAA) threaten new delays in the return of the 737 Max. But even after regulators sign off, airlines will still have weeks of work before passengers fly on the beleaguered plane. Southwest Airlines Co. is anticipating a month or more of preparations after the Max wins approval to fly …

Bloomberg Boeing Co. said it won’t compete for the Pentagon’s program to develop and procure the next-generation intercontinental ballistic missile, (ICBM) leaving Northrop Grumman Corp. as the sole bidder for a project valued at almost $85 billion. The announcement final Boeing’s previous indications that it wouldn’t bid on the program to replace aging Minuteman III ICBMs because it views the …