Bloomberg Over the past four months, investor optimism that global crude prices will rise has slumped by almost half. Hedge funds’ net-bullish position on Brent crude, a measure of how positive money managers are that prices will gain, has plunged 49 percent since early April as trade wars cloud the picture for oil consumption. Despite a good week for the …

Bloomberg President Donald Trump said the US may be on the verge of a “big Trade Agreement” with Mexico as the Nafta representative of that nation’s president-elect signalled that the thorny issue of rules for the energy industry seems to be resolved. Trump emphasised the collaboration with the current and incoming Mexican administrations. “Our relationship with Mexico is getting closer …

Bloomberg The UK’s largest solar company has set its sights on becoming a global player now that it’s owned in part by one of the world’s oil majors. “Going forward, this industry will move forward from a cottage industry almost, to an industrialised industry,” Chief Executive Officer Nick Boyle said. “There will be a small number of worldwide players. We …

Bloomberg Pipeline giant Enbridge Inc. agreed to buy all outstanding shares of Spectra Energy Partners LP in a deal aimed at streamlining its corporate structure in the wake of US tax changes. The agreement to acquire its master limited partnership is valued at $3.3 billion, based on the closing price of Enbridge shares in New York trading. It follows by …

Bloomberg Exxon Mobil Corp. has been looking to buy renewable energy for delivery in Texas, according to people familiar with the matter. The largest US oil company sent out a request for proposals with a June 8 deadline, inviting solar or wind power suppliers to pitch contracts that would last 12, 15 or 20 years, according to a document obtained …

Bloomberg China Three Gorges New Energy Co., a state-owned clean energy developer, received approval to build a 400 megawatt offshore wind farm in the nation’s southern province of Guangdong. The Yangjiang project will include 73 turbines with a capacity of 5.5 megawatts each, the company said in a statement on its website. The farm is expected to generate 1.49 billion …

Bloomberg The European Central Bank’s (ECB) search for a new watchdog to oversee one of the world’s biggest banking systems has its first candidate: the Irish central bank’s deputy governor, Sharon Donnery. Irish Finance Minister Paschal Donohoe confirmed Donnery’s application, the day submissions to lead the Single Supervisory Mechanism (SSM) were due to close, saying that she’s an “exceptional candidate.” …

Bloomberg UniCredit SpA, Italy’s biggest bank, climbed in Milan trading after a report that it had hired an adviser for a possible merger with France’s Societe Generale SA, a deal rumored already two years ago. Talks between the lenders to study integration and acquisition possibilities have been continuing, Italian financial newspaper MF reported, without citing anyone. UniCredit appointed Daniel Bouton, …

Bloomberg National Australia Bank Ltd. and Commonwealth Bank of Australia may face criminal charges over multiple breaches of the law in their treatment of pension customers, an inquiry into misconduct in the financial industry has been told. The two lenders faced particular criticism in a 200-page closing statement by counsel assisting the inquiry Michael Hodge following 10 days of evidence …

Bloomberg Three senior executives at Banco de Sabadell SA’s British unit will step down in an overhaul that the bank said is unrelated to the meltdown of its IT system earlier this year. The UK arm, known as TSB Banking Group, will see Treasurer Ian Firth, Chief Marketing Officer Nigel Gilbert and Human Resources Director Rachel Lock retire in the …