Bloomberg Kenya needs about $85 million annually in the short term for green projects in agriculture, transport and manufacturing, and as much as $888 million annually during the follow- ing five to 10 years, according to a banking industry lobby. The financing is needed to counter the effects of rapid climate change that could erase about 2 percent of economic …

Bloomberg Suncor Energy Inc is working with Alberta’s government to help mitigate the “unintended consequences” of mandated oil cuts, a policy company opposed from the start and now says is hitting it disproportionately hard. Suncor said its initial required output curtailment is higher than the 8.7 percent industrywide level, without giving specific amount. That makes it harder to maintain safe …

Bloomberg Three of Europe’s largest power suppliers will need to draw up new strategies after the collapse of a deal to merge the retail units of SSE Plc and Innogy SE operating in the UK. Combining the two would have been an ambitious task. The outlook darkened with laws limiting the bills consumers pay for electricity and natural gas, leaving …

Bloomberg China’s biggest-ever overseas property buying spree reversed course in dramatic fashion in 2018. But even after the record unwinding, many lucrative real estate assets remain in Chinese hands. They include the 245 Park Ave skyscraper in Manhattan, New York’s famed Waldorf Astoria Hotel and Chicago’s Vista Tower, under construction but envisaged as one of the city’s tallest buildings. With …

Bloomberg US stocks tumbled to a 19-month low as the turmoil in Washington kept investors on edge after the worst week for American equities in almost a decade. The S&P 500 slid for a fourth straight day, edging ever closer to a bear market as Treasury Secretary Steven Mnuchin unnerved investors by calling a crisis meeting with financial regulators. The …

Bloomberg Indian stocks declined for a third day in holiday-thinned trading as the threat of slower global growth and its impact on corporate earnings added to uncertainty at the end of a tough year. The S&P BSE Sensex dropped 0.8 percent to 35,470.15 in Mumbai, with bulk of the losses coming in the last hour of the session. Volumes were …

Bloomberg Financial-market turbulence is supposed to be a good thing for Wall Street trading desks — not so this quarter. Banks are struggling to capitalise on tumult across stock, bond and currency markets, in part because many investors are staying on sidelines as year-end approaches. Another culprit: dramatic but short-lived swings in asset prices that are striking some of their …

Bloomberg Rwanda’s central bank set out more stringent capital requirements for financial-services companies in the East African nation and announced a change in its monetary-policy framework to better accommodate the country’s requirements. Commercial banks need 20 billion francs ($23 million) of paid-up capital, four times the current requirement of 5 billion francs, while development lenders will need 50 billion francs, …

Bloomberg BMO Capital Markets’ metals and mining division faced upheaval this year after losing its two veteran co-heads during an already tough time for the resource industry. Its new leaders aim to prove the investment bank remains as strong as ever in the sector. The Bank of Montreal unit is accelerating lending and adding more bankers, including a sales-and-trading team …

Bloomberg Donald Trump says he likes winning. Right now, it’s difficult to count up anything but losers if the president fires Federal Reserve Chairman Jerome Powell. Trump has been discussing whether he can dismiss Powell, Bloomberg News reported, pro-mpting Treasury Secretary Ste-ven Mnuchin to tweet that the president said he doesn’t believe he has the authority to do so. Trump …