Bloomberg OK, Wall Street, back to work. The stock market crash you feared while guiltily snoozing through August on the beach may not have materialised but there are a few things you need to know about. First the good news. While firms from Goldman Sachs to Voya Asset Management warned everyone in July about the risk of late-summer turbulence and …

Bloomberg Russia kept pumping oil near post-Soviet records last month as it reaped benefits from a deal with OPEC easing output caps and oil prices at an all-time high in rubles. The nation extracted an average of 11.21 million barrels of crude per day in August, according to data emailed by the Russian Energy Ministry’s CDU-TEK unit. Volumes were little …

Bloomberg Mercuria Energy Group Ltd. revealed how much each of its top executives and founders control of its parent company offering a rare glimpse into the ownership structure of one of the world’s largest energy traders. In an application seeking permission for a US subsidiary to export electricity to Mexico, Mercuria included a detailed list of its shareholders. The obscure …

Bloomberg UK investment firm Wren House Infrastructure Management is considering buying the remaining 70 percent of Spain’s Global Power Generation SA that it doesn’t already own, according to people with knowledge of the matter. The potential deal could be valued at more than $1 billion, the people said, declining to be identified as the deliberations are confidential. London-based Wren House …

Bloomberg Ghana is postponing plans to protect itself from higher oil prices as the country reviews how its currency is affecting what consumers pay at the pump. Foreign exchange movements are probably having a bigger impact on volatile fuel costs than changes in the international price of crude, Deputy Minister of Finance Charles Adu Boahen said in an interview in …

Bloomberg Industrial & Commercial Bank of China (ICBC) Ltd. posted its fastest profit growth since September 2014 as margins and asset quality improved, but flagged challenging times ahead as the trade war with the US intensifies. Net income at the world’s largest lender by assets rose 5.8 percent to 81.6 billion yuan ($11.9 billion) in the quarter ended June from …

Bloomberg The offshore yuan headed for its biggest gain in a week, after China set the daily reference rate for the onshore currency stronger than expected, stoking bets the government wants to stabilise the exchange rate. The Chinese currency rose 0.23 percent to 6.8517 per dollar in Hong Kong, while the onshore rate gained 0.11 percent. The yuan’s fixing was …

Bloomberg The next few months are going to be fun for pound traders. Sterling’s volatility left political pundits scratching their heads last week, as European Union Chief Negotiator Michel Barnier’s promise to offer the UK an unprecedented partnership sent the currency soaring more than 1 percent even though he had said it before. With both sides warning of the risk …

Bloomberg Mid-size UK companies may have just two months to refinance before a probable Brexit squeeze in credit markets, according to KPMG. Borrowers should lock down “refinancing before the end of October,” particularly exporters exposed to sales in euros, Joe Cassidy, KPMG’s Brexit banking and capital markets lead, said in an interview. “If you’re going to rush to refinance just …

Bloomberg With Deutsche Bank AG and Commerzbank AG struggling, a chorus of German power players is suddenly stepping up calls for national champions big enough and strong enough to support the country’s export-driven economy. In the span of a few days, leading politicians, banking regulators and even Deutsche Bank’s chief executive officer have uniformly highlighted Europe’s, and especially Germany’s, fragmented …