Bloomberg Protests at some South African power stations amid deadlocked wage talks are stopping coal from getting to plants and threaten to force the country’s electricity provider to implement rolling blackouts. “The national grid is expected to be constrained this evening due to instability at several power stations due to acts of intimidation,” Khulu Phasiwe, a spokesman for Eskom, said …

Bloomberg The first major utility to embrace green power is cultivating its roots as a grid operator to insulate it from new rivals seeking a foothold in the electricity business. Iberdrola SA’s Chief Executive Officer Ignacio Galan said selling power directly to environmentally-conscious companies and running grids that earn a predictable return are at the heart of the strategy for …

Bloomberg Chesapeake Energy Corp’s agreement to sell shale assets in Ohio for about $2 billion boosted the natural gas producer’s shares as it moves to whittle down debt. The deal announced with closely held Encino Acquisition Partners is Chief Executive Officer Doug Lawler’s biggest in 3 1/2 years. After Chesapeake said almost all of the proceeds will be used to …

Bloomberg The biggest technology shares fell for a third day as investors showed signs of exhaustion with the sector amid a slew of corporate earnings. Government bonds declined ahead of key policy meetings from some of the world’s biggest central banks. The Nasdaq 100 Index sank almost 1 percent as the FANG cohort tumbled 2.2 percent, led by Netflix Inc. …

Bloomberg Iran’s rial tumbled to another historic low, resisting government efforts to shore up the economy as the restoration of US sanctions looms. In an effort to signal they’re taking action to fight profiteering and cushion the blow of the US economic offensive, authorities have rounded up more than two dozen merchants who they say exploited government currency measures for …

Bloomberg Something interesting happened in Swedish finance last quarter. The only big bank that managed to cut costs also happens to be behind one of the industry’s boldest plans to replace humans with automation. Nordea Bank AB, whose Chief Executive Officer Casper von Koskull says his industry might only have half its current human workforce a decade from now, is …

Bloomberg Credit Suisse Group AG is moving 50 investment banking jobs to Madrid as part of its Brexit planning, according to two people familiar with the matter. The Swiss lender is relocating bankers at its Global Markets trading division and dealmakers from its advisory unit, the people said, asking not to be identified because the decision is private. The firm …

Bloomberg The Bank of Japan (BOJ) offered to buy an unlimited amount of bonds for a third time in a week after the benchmark 10-year yield rose to an almost 18-month high ahead of the central bank’s policy decision on Tuesday. The offer, made at 0.1 percent for the five-to-10 year maturities, drew some 1.6 trillion yen ($14.4 billion) of …

Bloomberg Bank of America (BofA) is recruiting to potentially double the size of its specialist sales staff in the US and Europe, according to two people familiar with the efforts. The bank is looking to add four to six positions — which help clients act on the firm’s research ideas — in addition to the six specialist salespeople it already …

Bloomberg People charged with running or monitoring the world economy are set for a busy week before those in the Northern Hemisphere get to enjoy their summer vacations. Central bankers in the US, Japan, the UK, Brazil and India all meet to set their respective monetary policies at a time when Eric Oynoyan, senior European interest-rate strategist at BNP Paribas …