Bloomberg Rosneft PJSC’s said crude at $70 to 80 a barrel was a “comfortable level” and expressed satisfaction with the results of Russia’s joint supply cuts with OPEC, just a week before talks that could phase them out. The producers working together have “restored balance to the market by cutting oil production,” Russia’s biggest oil company said in a statement. …

Bloomberg Home to some of the busiest flight routes in Europe, whisking passengers across a rugged and mountainous landscape, Norway’s aviation industry now readies to go electric. Norway is one of Tesla’s biggest markets, with about 8,500 cars sold last year. Now, the country whose tourism sales pitch is “Powered by Nature” wants to be a pioneer in the market …

Bloomberg World Cup soccer spectators got a chance to ride driverless buses to see France’s clash with Australia in Russia’s eastern city of Kazan, part of a state-backed push into autonomous vehicles. Local truck maker Kamaz PJSC is laying on the electric vehicles to show off its technological skills while the world’s eyes are on the remote city on the …

Bloomberg It turns out robots need insurance too. As driverless vehicles reduce car ownership in coming years, insurers may not face the Armageddon that had been predicted, new research shows. “We do not expect revenues for auto insurance companies to experience a sudden decline as a result of autonomous vehicles,” Alejandro Zamorano, an analyst at Bloomberg New Energy Finance, said. …

Bloomberg Since China banned fireworks across more than 400 cities to reduce pollution, a new entertainment has emerged to fill the skies: drone swarms. Shows featuring more than a thousand drones forming 3-D animated figures and other images are being booked for celebrations across the country. Among those cashing in on the technology is EHang Inc., which has been contracted …

Bloomberg The gap between the Bank of Japan and its global peers widened. The BOJ maintained its aggressive asset-purchase and yield-curve targets less than 24 hours after the European Central Bank mapped out an exit from its crisis-era policies, and just days after the US Federal Reserve again raised interest rates. Underscoring the divide, the BOJ downgraded its assessment of …

Bloomberg Russia extended its pause in monetary easing as the central bank struck a surprise hawkish tone and warned that it’s slowing a shift to looser policy because of fiscal plans unveiled by the government. Policy makers in Moscow kept their key interest rate at 7.25 percent, according to a statement. The central bank said the balance of risks has …

Bloomberg Citigroup Inc. agreed to pay a combined $100 million to 42 US states to resolve a probe into fraudulent conduct tied to interest-rate manipulation that affected financial instruments worth trillions of dollars. The settlement was announced by several of the states, who alleged Citigroup misrepresented the integrity of the Libor benchmark to state and local governments, not-for-profit organisations and …

Bloomberg BNP Paribas SA plans a major hiring spree in German wealth management, seeking to become a leader in one of Europe’s biggest markets. The Paris-based lender wants to add as many as 150 staff to its private-banking operations across German cities over the next three years, according to Vincent Lecomte, co-head of the bank’s wealth-management business. That will about …

Bloomberg Kenya plans to repeal a law that caps commercial interest rates, after it crimped lending by banks in East Africa’s biggest economy, Treasury Secretary Henry Rotich said. The surprise proposal to repeal section 33B of the Banking Amendment Act will be welcomed by Kenyan banks that have complained the 400 basis-point ceiling on the cost of loans nullified their …