Bloomberg The race to develop oil terminals that can fully load supertankers on the US Gulf Coast remains congested, even as one of North America’s largest pipeline operators decided to push its project ahead. Over a year, more than 10 projects have been proposed for terminals that, combined, will be able to load 8 million barrels a day onto very …

Bloomberg The days when energy stocks and price of oil moved in lockstep are now few and far between. Oil may go up but stocks still fall, and in Canada it’s the worst divergence on record. The ratio of the iShares S&P/TSX Capped Energy Index ETF to West Texas Intermediate crude oil is at an all-time low, according to data …

Bloomberg Freyr AS, a startup planning to build one of Europe’s first battery gigafactories in Norway, has a bigger vision for the region: a “Nordic Battery Belt.” The Norwegian company is still gathering approvals, technology licenses and funding for its initial, 40 billion-krone ($4.5 billion) project in northern Norway. But it already sees the scope for as many as four …

Bloomberg Private home sales in Singapore jumped to highest in eight months as a broader economic slowdown spurred investors to park their money in a property market known as a safe haven. Developers in the city-state sold 1,178 apartments in July, an increase of 43% from the previous month, and the highest level since November. Purchases by foreigners more than …

Bloomberg Investors should stick with their stocks despite the sell-off this week because it would be harder to time the market and get back in, according to Brian Levitt, global market strategist for North America at Invesco. US equities suffered one of the deepest sell-offs of the year as mounting signs of a global economic slowdown stoked fears of a …

Bloomberg Facebook Inc’s Libra cryptocurrency will be discussed as a delegation of American lawmakers visits Switzerland in the coming days. The group of six will hold a meeting with the Swiss Federal Data Protection and Information Commissioner Adrian Lobsiger, NZZ am Sonntag reports, citing his spokesman. It will be led by Democrat Maxine Waters, who has previously spoken critically about …

Bloomberg Protest-battered Hong Kong should also brace itself for an “economic typhoon” caused by the US-China trade war and recent political unrest in the city, Financial Secretary Paul Chan wrote in a blog post on Sunday. The warning from the city’s top budget official came after Hong Kong slashed its 2019 growth forecast to as little as zero, down from …

Bloomberg Indonesia’s rupiah has braved headwinds both at home and abroad to escape largely unscathed in the recent emerging-market (EM) sell-off, and the nation’s central bank is largely to thank for that. Bank Indonesia’s repeated interventions to maintain currency stability have helped soothe investor nerves, with the rupiah’s 0.8% loss this quarter making for the second-best performance among Asian EM …

Bloomberg KCB Group Ltd. first-half profit jumped 5% as the East African nation’s largest lender earned more interest income from investing in government securities and providing business loans. Net income in the six months through June was 12.7 billion shilling ($123 million), Chief Finance Officer Lawrence Kimathi told investors. That matched estimates by African Alliance Securities Kenya. Net interest income …

Bloomberg JPMorgan Chase & Co. has cut its 2020 earnings estimates for US stocks based on the projected impact of incoming tariffs and pinpointed companies that could be particularly affected by the levies. “Tariffs remain the largest source of risk for equities,” strategists led by Dubravko Lakos-Bujas wrote in a note. The bank is reducing its 2020 earnings estimate for …