Bloomberg New Zealand’s central bank cut interest rates to a fresh record low and said it has probably done enough to return inflation to target as economic growth quickens. “At this stage we think that we won’t need another cut,” Reserve Bank Governor Graeme Wheeler told a news conference in Wellington on Thursday after lowering the official cash rate ...

  Bloomberg European lenders got a second-day boost after Donald Trump’s presidential win on speculation his term will lead to increased inflation and an easing of financial rules. The leaders of the rally that pushed Europe’s shares up for a fourth day were UBS Group AG and Credit Suisse Group AG, which get more than 35 percent of their revenues ...

  AFP Output by OPEC oil producers has reached record levels, the International Energy Agency said on Thursday, raising fears a global oil glut will continue to weigh on markets unless the cartel agrees on a cut. Production by the 14 members of OPEC rose to a record 33.83 million barrels a day in October, the IEA said, just weeks ...

  Bloomberg Saudi Arabian Oil Co., the world’s largest crude exporter, is among second-round bidders for a Turkish fuel retailer owned by OMV AG, central Europe’s biggest oil and gas company, according to three people with direct knowledge of the matter. HSBC Holdings Plc is advising the Saudi company on the potential acquisition of Istanbul-based OMV Petrol Ofisi AS, Turkey’s ...

  Reuters Kuwaiti telecoms group Zain expects to sell its mobile transmitter towers in Saudi Arabia for more than $500 million in the first half of 2017, its chief executive said. Zain, which operates in eight countries in the Middle East and Africa, has been exploring the sale of its towers in some of its markets since as early as ...

  Reuters Iraq’s oil ministry is postponing a bidding round for 12 small and medium-sized oil fields across three provinces from Nov. 30 to the middle of next year, the ministry said on its website on Thursday. The ministry’s statement said there are “essential changes” to the previous announcement, including plans for the oil ministry to develop some of the ...

  Bloomberg Oil fell as the market’s focus shifted from the shock of Donald Trump’s U.S. presidential election victory to questions about OPEC’s ability to rebalance crude supply and demand. Crude futures declined as much as 1.9 percent in New York, erasing earlier gains after the International Energy Agency said prices may retreat amid “ relentless global supply growth” unless ...

  Bloomberg America just endured its first presidential election in which the majority of the electorate got its news from social media. And the outcome is already prompting soul searching by the companies that shaped it. Facebook Inc. will have to contend with mounting dissatisfaction over its role as the most widely used news filter in history. Forty-four percent of ...

  Bloomberg Chinese internet companies face a new reality after Donald Trump’s surprise victory as US president-elect — and Alibaba Group Holding Ltd. has the most to lose. On the campaign trail, Trump promised to upend global trade, saying that China is “killing us” on trade policy and proposing tariffs on Chinese goods of as much as 45 percent. If ...

  Bloomberg Volkswagen AG’s plot to cheat emissions tests by installing so-called defeat devices in its vehicles wasn’t limited to diesel cars, but also included at least six models of Audi 3.0-liter gasoline engines, according to a consumer lawsuit. In a class action on behalf of owners of more than 100,000 vehicles, the German carmaker’s Audi unit was accused of ...