Bloomberg Oil extended gains as a new wave of US sanctions on Venezuela stoked concerns over its crude production and as analysts forecast further declines in American stockpiles. Futures in New York added as much as 0.4 percent after US President Donald Trump ordered sanctions on debt owed to Venezuela after the Latin American country’s President, Nicolas Maduro, won a …

Bloomberg Two of North America’s biggest pipeline companies and the top US natural gas exporter are all absorbing subsidiaries in moves aimed at curbing future tax obligations following a federal overhaul. Williams Cos. said it will buy the remaining stake in Williams Partners in a $10.5 billion all-stock deal. Cheniere Energy Inc. is buying up the partnership that holds units …

Bloomberg Glencore Plc is close to a $1 billion deal to buy Chevron Corp.’s southern African assets, potentially scuppering an earlier agreement with China Petroleum & Chemical Corp., according to three people familiar with the matter. The Switzerland-based miner and trader will complete the deal within the next six weeks, said one of the people who asked not to be …

Bloomberg Just weeks after the Federal Energy Regulatory Commission launched a sweeping review of its natural gas pipeline policy, its members are again split on the extent to which they should take climate change into account. In the latest clash, the commission’s Republican members voted to dismiss an environmental group’s challenge to Dominion Energy Inc.’s New Market gas pipeline in …

Bloomberg A degree of risk appetite returned to global markets on Tuesday, with developing-nation stocks and currencies rebounding and Italian bonds climbing. The dollar fell as Treasury yields climbed, and the pound advanced. US equity futures pointed to a higher open and the Stoxx Europe 600 Index nudged upward after the MSCI Asia Pacific gauge eked out a gain in …

Bloomberg While locals in Malaysia cheer the ouster of the Barisan Nasional coalition for the first time since independence, foreign stock investors are voting with their feet. Foreign inflows into the local stock market of $937.8 million were wiped out as concern remains on how the new coalition party under 92-year-old PM Mahathir Mohamad will continue economic growth. As of May …

Bloomberg State Bank of India, the country’s largest lender by assets, joined its private peers in shrugging off losses as investors believe the lenders have finally got a handle on bad loans. SBI’s shares surged to a six-week high after it reported a record loss on Tuesday, weighed down by a doubling in provisions for soured debt. A similar contrarian …

Bloomberg A former Deutsche Bank AG executive, Nizar Al-Bassam, is suing the German lender to reclaim bonuses totaling about 4 million euros ($4.7 million) following a probe into hiring practices in Russia and the UK. Al-Bassam, a former head of corporate and debt capital market finance for central and eastern Europe, the Middle East and Africa, said he believed the …

Bloomberg Wells Fargo & Co. Chief Executive Officer Tim Sloan said the firm is ready to increase lending for car sales after pulling back last year, and it’s now looking with consternation at the commercial real estate market. In auto lending, “we’ve pulled back enough and now we’re going to be growing that business again,” Sloan said in an interview …

Bloomberg Investors are decamping Canadian banks ahead of earnings season, with six straight weeks of outflows from the largest exchange-traded fund tracking the industry. The BMO Equal Weight Banks Index ETF saw a record C$263 million ($204 million) leave the fund between April 2 and May 11, according to data compiled by Bloomberg. But the fact that the iShares S&P/TSX …