Bloomberg Norway, western Europe’s biggest oil producer, joined international efforts to curb supply for the first time in almost two decades after prices plumbed new depths. The Nordic country will cut production by 250,000 barrels a day in June and 134,000 barrels in the second half of the year, the Petroleum and Energy Ministry said. That’s based on a reference …

Bloomberg European stocks fluctuated, Asian shares rose and US futures edged higher on Thursday as investors weighed corporate results and signs of progress in treating the coronavirus alongside miserable economic data. Oil futures continued to rebound after an early-week tumble. The Stoxx Europe 600 Index swung from a gain to a loss in early trading. Societe Generale SA slumped after …

Bloomberg India stocks rose, heading for their first monthly gain this year, with the world’s biggest lockdown scheduled to end on Sunday. Equities across Asia gained on Thursday amid signs of progress in treating the coronavirus. The S&P BSE Sensex climbed 2.8% to 33,605.99, while the NSE Nifty 50 Index added 2.7%. Both gauges have rebounded by more than 20% …

Bloomberg Oil clawed back its recent heavy losses as output cuts from major producers seek to stymie an unprecedented global glut. Futures rose by almost $2 in New York to around $14 a barrel. Russian oil companies will cut output by about 19% from February levels, the nation’s Energy Minister, Alexander Novak told the Interfax news agency. Even at $10 …

Bloomberg Airbus SE spent a record 8 billion euros ($8.7 billion) of cash in the first quarter as Chief Executive Officer Guillaume Faury warned of the “gravest crisis the aerospace industry has ever known.” While almost half of the cash hit came from a bribery settlement, the abrupt drop in deliveries seen in March will worsen this quarter, eating further …

Bloomberg As dividends are slashed around the world, the $42 billion in promised payouts by China’s biggest banks have a powerful defender — the Communist Party. Industrial & Commercial Bank of China Ltd. (ICBC) and its three biggest peers are returning more than 30% of their 2019 earnings to shareholders, implying an average dividend yield of more than 6%. That’s …

Bloomberg European stocks fluctuated while Asian shares gained with US equity futures as investors countdown to more big earnings, a Federal Reserve policy decision and American economic data. The dollar fell for a third day and oil advanced. Declines for healthcare and travel shares offset gains for oil companies and banks in the Stoxx Europe 600 Index. Barclays Plc jumped …

Bloomberg Indian stocks rose for a third day, sovereign bonds and the rupee also advanced as investors monitored discussions around plans to restart business activities ahead of a scheduled ending of a lockdown in the world’s second-most populous country on Sunday. The S&P BSE Sensex climbed 0.9% to 32,386.64 as of 9:43 am in Mumbai, while the NSE Nifty 50 …

Bloomberg Deutsche Bank AG warned revenue will probably decline this year as a trading boost that lifted Wall Street banks in the first quarter fades and the coronavirus pandemic ripples through the economy. The first quarter was flat from a year earlier as a 13% increase in fixed-income trading helped offset lower income in the corporate bank and asset management, …

Bloomberg Standard Chartered put aside $956 million against potential losses as souring loans spike during coronavirus pandemic, even as a trading boom lifted first-quarter revenue. The emerging markets-focused lender reported the biggest provisions since 2015 as clients across Asia, Africa and the Middle East got into difficulty because of lockdowns and travel restrictions. That reflects similar warnings from other global …