Bloomberg US stocks fell, pushed lower by megacap tech shares as they extended losses following a sharp selloff Tuesday afternoon. The dollar rose while Treasuries rallied as data showed American economic growth beat estimates. Volatility spiked as the Nasdaq 100 Index retreated, with Netflix Inc. and Amazon.com Inc. among the biggest losers. The gauge is heading for its fifth straight …

Reuters Saudi Arabia’s stock market pulled back because of profit-taking on Wednesday ahead of a decision by index compiler FTSE Russell on whether to upgrade Riyadh to emerging market status, while most other regional bourses were also weak. The Saudi index has surged in recent weeks on expectations of a positive decision by FTSE on Wednesday. If MSCI also decides …

NEW YORK / Reuters Saudi Arabia and Russia are working on a historic long-term pact that could extend controls over world crude supplies by major exporters for many years. Saudi crown prince Mohammed bin Salman told Reuters that Riyadh and Moscow were considering a deal to greatly extend a short-term alliance on oil curbs that began in January 2017 after …

NEW YORK / WAM Saudi Aramco announced commercial cooperation worth over $10 billion with 14 American companies during Saudi-US CEOs forum in New York. Saudi Aramco on Wednesday participated in the event to promote bilateral business and cooperation between the two countries. The forum was scheduled to coincide with the official visit to the United States by Crown Prince Mohammed …

Bloomberg CEFC China Energy Co., the sprawling conglomerate that’s come under increasing government scrutiny, plans to sell its entire global property portfolio with a book value of more than 20 billion yuan ($3.2 billion), according to people with knowledge of the matter. Almost 100 properties are up for sale, including its headquarters in an upscale Shanghai neighbourhood, four floors of …

Bloomberg European oil majors are swarming the shallow-waters of the Gulf of Mexico as the country races to attract investment before an election. Anglo-Dutch giant Royal Dutch Shell Plc, the UK’s BP Plc, France’s Total SA, Italy’s Eni SpA, Spain’s Repsol SA, Russia’s Lukoil PJSC and DEA Deutsche Erdoel AG of Germany all won blocks — a number of them …

Bloomberg Concho Resources Inc. will buy rival shale oil producer RSP Permian Inc. in an $8 billion all-share deal, creating one of the largest producers in the region at the center of America’s energy boom. The deal is the biggest ever in the Permian Basin, topping Exxon Mobil Inc.’s acquisition of assets from the Bass family for as much as …

Bloomberg Nordea Bank AB will start pricing debt products to reflect threats to data as the scandal engulfing Facebook Inc. redefines corporate risk. Mathias Leijon, co-head of corporate and investment banking at Nordea in Stockholm, says his team has been thinking “a lot about this” risk, with a key question emerging as, “How do you include the cost associated with …

Bloomberg A recent spike in funding costs is happening at the worst time for Australia’s big banks, as intense public scrutiny crimps their ability to pass on increases to customers. The banks are fighting to defend their reputations in the face of an inquiry into misconduct and mistreatment of customers. Two weeks into hearings in front of a Royal Commission, …

Bloomberg The silence all day spoke volumes about the disarray at the top of Deutsche Bank AG, say insiders and shareholders. No one at the bank — from spokespeople to the highest-ranking executives — commented publicly on a string of media reports and investor speculation that either Chairman Paul Achleitner or Chief Executive Officer John Cryan, or both, was on …