Bloomberg A weekend selloff cryptocurrencies subsided, with Bitcoin rallying from a six-week low before Group of 20 finance ministers and central bank governors discuss digital assets in Buenos Aires. Bitcoin traded at $8,235 as of 11:20 a.m. in Hong Kong, up 12 percent from its low reached over the weekend, according to prices on Bitstamp. Traders are watching this week’s …

Bloomberg European Central Bank officials told investors from around the world that they’re right to bet on a gradual reduction of monetary stimulus in the euro area. On the eve of a Group of 20 meeting of finance chiefs in Buenos Aires, Governing Council members Klaas Knot and Francois Villeroy de Galhau expressed confidence that inflation in the 19-nation region …

Bloomberg The record-beating rally of European cyclical stocks is heading for a pause. That’s according to Deutsche Bank’s head of European equity strategy Sebastian Raedler, who argues that equities geared to the economy will underperform defensive peers by about 10% through mid-year. Sectors like banks and miners — which last year benefited from investor optimism over growth — will bear …

Bloomberg Societe Generale SA has applied for an Australian banking license as it prepares to restart its onshore lending business, according to a person familiar with the situation. The French bank wound down much of its Australian business in 2010, when it shifted its foreign exchange and commodities trading from Sydney to Hong Kong, giving up its local deposit-taking license …

Bloomberg This is no longer a market that mixes relentless gains with the occasional sharp downdraft. For the third week in a row, the S&P 500 Index reversed some or all of the prior week’s performance. This time it fell, albeit with 2018’s smallest decline, after climbing 3.5 percent in the previous five days. It was a pattern of alternating …

Reuters Gulf stock markets eased on Sunday as gains in oil prices at the end of last week failed to spur activity, though Ezz Steel helped to lift Egypt’s index. There was very little action in the United Arab Emirates, with both Dubai and Abu Dhabi registering among their lowest trading volumes this year as the indexes fell marginally. Emaar …

Bloomberg Saudi Arabia’s Crown Prince Mohammed bin Salman plans to meet top global executives, including the heads of Apple Inc and Google, during his first trip to the US since becoming heir to the throne of the world’s largest oil exporter, according to a person briefed on the trip’s details. Crown Prince Mohammed, known among journalists and diplomats as MBS, …

Bloomberg Saudi Arabia is cutting back on its dealings with some German companies amid a diplomatic spat with its top European trading partner, according to people with knowledge of the matter. Government agencies have been told not to renew some non-essential contracts with German firms following comments made in November by Germany’s then-foreign minister, Sigmar Gabriel, two of the people …

Bloomberg Royal Dutch Shell Plc and Eni SpA may have misled regulators in Nigeria by wrongly attributing oil spills to theft and sabotage in order to avoid paying compensation to affected communities, rights group Amnesty International said. “Amnesty International researchers have identified that at least 89 spills may have been wrongly labeled as theft or sabotage when in fact they …

Reuters Iran has nearly doubled gas production at South Pars, the world’s largest gas field, in the past year, Iranian President Hassan Rouhani said on Sunday, according to state media. Gas production at South Pars increased from 285 million cubic meters to 555 million cubic meters in the past Iranian calendar year, which started in late March 2017, Rouhani said, …