Bloomberg A group led by Brazil’s Itausa Investimentos SA offered about $850 million for Petrobras’s bottled gas distributor. Petrobras said in a filing that Itausa, the holding company for Setubal and Villela families, in a consortium with Copagaz Distribuidora de Gas Ltda and Nacional Gas Butano, offered highest bid for Liquigas Distribuidora SA. The supplier of liquefied petroleum gas for …

Bloomberg Any reassurance markets got from the Federal Reserve in Jackson Hole was wiped out within minutes. A volley of acrimonious presidential tweets and a nastier turn in the trade war sent Treasury yields, stocks and the dollar skidding into the weekend. Hopes that the central bank could guide markets to a cool-headed assessment of the US economy now look …

Bloomberg As markets bet on a no-deal Brexit, the real shock for pound traders could be Prime Minister Boris Johnson clinching a sudden deal. Sterling has tumbled in recent weeks as Johnson’s “do or die” stance has led traders to increase bets against the currency on the prospects of a no-deal Brexit on October 31. Yet a surge of nearly …

Bloomberg Deutsche Bank AG executives were outraged. They had just missed out on a major deal with the Russian government and wanted answers. “We must use whatever tactic and political pressure to avoid this embarrassment,” a senior banker in London wrote in an email to the firm’s top executive in Russia. “DB not participating is a slap in our face.” …

Bloomberg A collapse of Brexit talks resulting in the UK leaving the European Union without a transition agreement would likely prompt the Bank of England to loosen monetary policy, Governor Mark Carney said. While the Monetary Policy Committee’s reaction would depend on how demand, supply and exchange rate are hit, “the appropriate policy path would be more likely to ease …

Bloomberg Royal Bank of Canada (RBC) posted fiscal third-quarter earnings that missed analysts’ estimates, hurt by a slowdown in the company’s capital-markets division. Canada’s largest lender by assets had C$653 million ($491 million) in profit from RBC Capital Markets, a 6.4% decline, the result of lower trading revenue and a drop in investment-banking fees, according to a statement Wednesday. Earnings from …

Bloomberg Sweden is stuck in negative interest rates. That’s the view of fixed-income giant Pacific Investment Management Co, which predicts that Sweden’s central bank will need to leave its benchmark rate at minus 0.25% through 2020. Sweden’s central bank is struggling to exit more than four years of negative rates. A plan to raise rates to zero again towards end …

Bloomberg HSBC Holdings Plc, the bank that shook up its senior leadership this month, is considering a bid for Asian operations being sold by Aviva Plc as it seeks ways to diversify its business in the region, people with knowledge of the matter said. London-based HSBC is in the early stages of weighing an offer for at least part of …

Bloomberg The Swiss National Bank (SNB) has a new way of enforcing the world’s lowest interest rate. With the franc near a two-year high against euro, the SNB’s decade-old battle against an overly strong currency is back in focus. There’s evidence it’s been intervening again and analysts are increasingly betting that it will soon follow with a rate cut. That …

Bloomberg A quarter of Chinese production capacity used by global sportswear brands is lying idle, according to a manufacturing executive, as the protracted trade war pushes the biggest sports labels out of the Asian nation’s factories. The exodus is forcing factories to offer discounts of 10 percent to companies such as his to use their dormant production lines, Chinese sportswear …