Bloomberg Uganda is seeking $3.5 billion in private investment to expand its power-transmission network in attempt to curb spending without slowing its economic growth. Liberalising transmission will provide additional resources needed to transmit power from new generation projects including the 600-megawatt Karuma hydropower plant scheduled to start output in December, according to the electricity regulator. The capital injection, above the …

Bloomberg Mercedes-Benz gave car buyers a glimpse of the top-end of its electric model plans, showing off a sleek silver battery-powered concept version to complement the flagship S-Class sedan. So far luxury cruisers have remained a mainstay for traditional combustion-era heroes, with only plug-in hybrids available for the likes of BMW 7-Series or the recently revamped Audi A8. Mercedes-maker Daimler …

Bloomberg US equity futures drifted while European shares fell and Asian stocks were mixed as investors marked time before key central bank meetings in the coming days. The dollar strengthened. Contracts on the three main US indexes signalled they’ll open with modest declines. The Stoxx Europe 600 Index dropped a second day, led by financial services and health-care shares. The …

Bloomberg Small is decidedly not beautiful for European equities, according to Societe Generale (SocGen) SA. Investors should short the Euro Stoxx Small Index while going long on the blue-chip Euro Stoxx 50 Index, given the prospect of greater “liquidity-driven shocks” ahead for markets, SocGen strategists said. European equity funds have registered almost nonstop outflows this year, a trend that isn’t …

Bloomberg Chinese investors have paused in their pursuit of Hong Kong stocks. They sold a net HK$175 million ($22 million) of the city’s shares on Tuesday, according to data compiled by Bloomberg. That followed purchases of $10.2 billion over the previous 37 sessions, the longest streak since late 2017. Mainland traders had been attracted by cheap valuations as the benchmark …

Bloomberg Deutsche Bank AG Chief Financial Officer James von Moltke softened the lender’s mid-term revenue target just two months after setting it. The company now expects revenue of 24 billion euros ($26.6 billion) to 25 billion euros in 2022, von Moltke said at the Barclays Global Financial Services Conference in New York. That compares with a goal of about 25 …

Bloomberg Barclays Plc is putting aside an estimated 1.6 billion pounds ($2 billion) more after a rush in last-minute payment protection insurance claims, threatening t he lender’s promise to return more money to shareholders. The bank said a “significantly higher volume of PPI-related claims” ahead of the regulatory deadline led to the provision of between 1.2 billion pounds and 1.6 …

Bloomberg Few geopolitical events have distracted global banks more than the endless twists and turns of Brexit. Now, Goldman Sachs Group Inc is hiring a former public servant steeped in the UK’s attempts to sever itself from the European Union. Olly Robbins, who was former Prime Minister Theresa May’s chief Brexit negotiator, plans to join the US bank as a …

Bloomberg Facebook Inc told US senators that the initial basket of currencies that will back its Libra cryptocurrency will likely include the US dollar, euro, yen, British pound and Singapore dollar. The list responds to concerns from Virginia Democratic Senator Mark Warner that China may push the Libra Association to include the yuan in the so-called stable coin, which Facebook …

Bloomberg Online banks have been more aggressive than their established rivals in attracting customers with high deposit rates. Now that rates are falling, they’re quicker to cut as well. Ally Financial Inc and American Express (AmEx) Co lead the pack in lowering rates across deposit products, Credit Suisse Group AG analysts led by Moshe Orenbuch said in a note. Ally …