Bloomberg The world’s biggest iron ore shipper cut its outlook for prices next year by 20 percent as the global market remains well supplied, loss-making miners are holding out and steel output in China will shrink further. Iron ore is seen at US$44.80 a metric ton next year, Australia’s Department of Industry, Innovation and Science said in a ...

  Bloomberg President Barack Obama said he expects the U.K. will abide by the wishes of British voters and carry out plans to leave the European Union, and urged both sides to conduct the departure with minimal disruption. “We have to assume that a referendum having been passed with a lot of attention” and relatively high participation rate “is going ...

  Bloomberg Health insurers including WellCare Health Plans Inc. and Centene Corp. have offered to buy assets that Aetna Inc. may have to sell to gain regulatory approval for its proposed $37 billion takeover of Humana Inc., a person familiar with the matter said. WellCare and Centene have separately bid for Aetna’s Medicare Advantage policies that are up for sale, ...

  Bloomberg Brazil’s consumer prices rose less than analysts forecast in June as new central bank chief Ilan Goldfajn pledges to bring inflation to the government’s target by the end of next year. The benchmark IPCA consumer price index climbed 0.35 percent after a 0.78 percent rise the previous month. That was lower than the median forecast for a 0.37 ...

  Bloomberg Hewlett Packard Enterprise Co. is considering a sale of some of its software assets as it continues to slim down its operations, according to people familiar with the matter. The divestitures would come from a portfolio of acquisitions made over roughly the last decade, including Autonomy, Mercury Interactive and Vertica Systems, said the people, who asked not to ...

  Bloomberg Oi SA, the Brazilian phone company struggling under $20 billion in debt, said one of its biggest investors called for a shareholders’ meeting to change the makeup of the board. Magnate Nelson Tanure’s Bridge Administradora de Recursos Ltda., which holds a 6.6 percent stake in Oi, said it would seek to oust directors who represent Pharol SGPS SA, ...

  Dursun Peksen SPECIAL TO EMIRATES BUSINESS The United States and other major actors have long opted for economic sanctions to destabilize North Korea’s authoritarian regime and end its nuclear program. Over the years sanctions have inflicted major economic damage and isolated North Korea from the global economy, but have failed to change the course of the Kim regime’s stability ...

  Tomohiko Taniguchi SPECIAL TO EMIRATES BUSINESS Brexit was a bolt out of the blue, one with strategic, economic, and political implications not just for countries across the Atlantic, but also for ones in the Asia-Pacific, particularly Japan. On the strategic front, as Britain begins to determine how to move forward while exiting the European Union, if indeed it will, ...

  Ibu Sanjeeb Garg SPECIAL TO EMIRATES BUSINESS The Indian government recently arrived at a decision to privatize 12 small oilfields in Assam. This, as part of the new policy that will privatize 67 small oil fields in India, has drawn understandably strong reactions from the vocal civil society of Assam. Assam has had a long checkered history with oil, ...

  BLOOMBERG Egyptian stocks had the biggest advance in almost four months, leading gains across most Middle Eastern markets, as traders speculated the country may devalue its currency as early as Tuesday. The EGX 30 Index jumped 4.7 percent at the close in Cairo, with trading volumes on the main gauge 157 percent above the average of the past 20 ...