Bloomberg Heavy Canadian crude isn’t getting any cheaper — but that hasn’t stopped companies from splurging on costly rail shipments. Rail-car loadings hit a record 356,000 barrels a day in the week ended Jan. 11, up from a daily average of 296,000 barrels in December, according to Genscape Inc., which monitors some of the larger crude-by-rail terminals in Western Canada. …

Bloomberg US stocks fell after Caterpillar and Nvidia blamed slowing global growth for disappointing results, adding to concern the trade war with China is hitting corporate profits. The dollar edged higher. The S&P 500 began a crucial week for trade and monetary policy sharply lower as the sector bellwethers doused enthusiasm over the young earnings season. The Dow Jones Industrial …

Bloomberg The pound’s world-beating rally is unsustainable as traders are over-optimistic about the way forward on Brexit, according to money managers. Sterling has gained more than 3 percent versus the dollar this year, the most among its Group-of-10 peers, on conviction that the possibility of a no-deal Brexit has receded. Fund managers at both Aberdeen Standard Investments and BlueBay Asset …

Bloomberg Malaysia is planning a sale for $5.5 billion of real estate to bridge the gap between property oversupply and lack of affordable homes, with developers asked to offer at least 10 percent discount. The numbers are staggering: about 180 developers will offer 22,000 units worth a total of 22.5 billion ringgit ($5.5 billion) at the expo planned for March …

Bloomberg The European Central Bank’s (ECB) pessimism over its economic outlook might not last long even if the euro area fails to pick up speed — instead it’ll just revise the projections to reflect the heightened risks. Governing Council members Francois Villeroy de Galhau and Vitas Vasiliauskas said that policy makers expect to cut their 2019 growth prediction in March …

Bloomberg The European economy doesn’t show any signs of falling into a recession, ECB Governing Council member Klaas Knot said. “The European economy is doing pretty well,” and even though capacity utilisation is high and unemployment low, this isn’t leading to inflation, the Dutch central bank president said in Dutch television show Buitenhof. “I do find talk about a crisis, …

Bloomberg Chinese regulators have allowed S&P Global Ratings’ Beijing-based wholly owned unit to conduct credit rating business on the mainland, according to a statement from the People’s Bank of China (PBOC). The credit assessor is now allowed to register for bond rating service in China’s interbank market. The PBOC didn’t mention Moody’s Investors Service and Fitch Ratings in its announcement …

Bloomberg Bank of England Governor Mark Carney said tough oversight of bankers and threats of jail aren’t enough to prevent talent from joining the industry. Carney was discussing the UK’s Senior Managers’ Regime, a response to the “relatively limited consequences” for senior bankers in the wake of the financial crisis. It works on the basis that ignorance is no defense, …

Bloomberg Federal Reserve Chairman Jerome Powell has some further explaining to do after the central bank’s monetary messages whipsawed financial markets over the last month. Powell holds a press conference at 2:30 pm on Wednesday in Washington following a two-day meeting of the Federal Open Market Committee. Investors expect the FOMC to keep interest rates on hold. Its policy statement …

Bloomberg Europe’s retail crisis deepened as companies in the UK and Germany are poised to cut thousands of jobs as online shopping accelerates the erosion of sales from traditional bricks-and-mortar stores. Tesco Plc, the biggest UK grocer, will eliminate about 15,000 positions and close meat, fish and delicatessen counters, the Mail reported, citing unidentified industry sources. Galeria Kaufhof, which has …