Bloomberg Total SA said it has opened up a new “world-class” oil and gas province off the coast of South Africa after making a significant gas-condensate discovery there. Success in the nation’s first deep-water well is a potential boon for a country that imports most of its oil, processing the remainder of its fuels from coal and natural gas. “We …

Bloomberg India’s central bank unexpectedly cut its benchmark interest rate in Governor Shaktikanta Das’s debut policy meeting, a shift that provides more of the stimulus Prime Minister Narendra Modi’s government needs to stoke growth as an election nears. The repurchase rate was reduced by 25 basis points to 6.25 percent, a decision predicted by just 11 of 43 economists surveyed …

Bloomberg European Central Bank officials see no urgent need to offer new long-term loans to banks and aren’t certain to do so at their next policy meeting in March, according to people familiar with the matter. Officials aren’t yet convinced about the necessity for more liquidity and are nervous that an offering could fuel perceptions that they’re helping out particular …

Bloomberg Federal Reserve Chairman Jerome Powell gave a brief but positive assessment of the economy at an event organized for educators. “The US economy is now in a good place,” Powell said evening in response to audience questions during a meeting with teachers at the central bank’s headquarters in Washington. “At the moment, unemployment is low, prices are near two …

Bloomberg Deutsche Bank AG Chief Executive Officer Christian Sewing said the bank will seek to increase revenue without sacrificing discipline as he attempts to reboot the troubled German lender. “We have our costs under control and built a solid foundation with a strong capital base and a very low risk profile,” Sewing said, according to prepared remarks that he was …

Bloomberg Brazil held its benchmark interest rate unchanged and signalled that Congress needed to approve cost-cutting measures before borrowing costs can fall. The bank board, led by its President Ilan Goldfajn, kept the Selic rate at 6.50 percent for a seventh straight meeting in a decision expected by all 42 economists in a Bloomberg survey. It was likely the last …

Bloomberg In recent years, the video-game industry looked like it had found the antidote to the boom-bust cycles that had long plagued the business. Publishers focused on a few well-known titles and extended their lives through in-game purchases, expansion packs and online tournaments. Electronic Arts Inc., one of the largest players, doubled its market value to almost $45 billion last …

Bloomberg Waymo is in advanced talks to develop autonomous cars with Renault SA, Nissan Motor Co. and Mitsubishi Motors Corp., according to people familiar with the matter, in a move that would join a leading self-driving force with the world’s largest automotive alliance. A deal between the three carmakers and Alphabet Inc.’s self-driving unit could include making driverless taxis, said …

Bloomberg Facebook Inc. said it acquired visual shopping and artificial intelligence startup GrokStyle Inc. in a move to bolster the social-media company’s own AI work. GrokStyle’s technology, which was integrated into Ikea’s mobile app, was simple in practice. A user takes a picture of a piece of furniture and the technology would match it to similar products that could be …

Bloomberg Luminance Technologies Ltd., a UK company that sells artificial intelligence (AI) software that helps lawyers review documents and conduct due diligence, has been valued at $100 million in its latest funding round. The company said it got $10 million from existing investors, including venture capital firms Invoke Capital and Talis Capital, as well as the law firm Slaughter and …