Bloomberg The Trump administration is slated to unveil biofuel policy changes, including efforts to tamp down costs for refiners while broadening the market for ethanol, according to people familiar with the action. The announcement follows weeks of negotiations by the Agriculture Department, Environmental Protection Agency and Energy Department to flesh out a tentative deal struck at the White House last …

Bloomberg US and European stocks advanced on Monday, tracking peers in Asia as optimism over the world’s largest economy helped investors put protectionist fears to one side. Treasuries were steady, the dollar fell, and the pound and euro rose. The Standard & Poor’s 500 and Nasdaq Composite Indexes opened higher after Microsoft Corp. agreed to buy coding site GitHub for …

Bloomberg India’s two-year-old bankruptcy law, which gives creditors more power to restructure troubled companies, is luring more and more offshore investors from as far as Canada to buy the nation’s bad debt. Caisse de dépôt et placement du Québec, a Canadian pension fund manager, has made $600 million available to Edelweiss Group for investment in local distressed assets, according to …

Bloomberg China’s banks, scrambling to adjust to the government’s deleveraging campaign, are likely to add to pressures on the corporate bond market as they shed more of their massive note holdings and de-risk their balance sheets. Further payment problems are likely in a market that has already seen at least 14 corporate bond defaults this year, according to Logan Wright, …

Bloomberg Italian bank UniCredit SpA is considering a merger with France’s Societe Generale SA, a move that would combine two of Europe’s largest financial institutions, the Financial Times reported. UniCredit Chief Executive Officer Jean Pierre Mustier, who is French and once worked for SocGen, has been developing the idea for several months, the FT said, citing people close to the …

Bloomberg Commonwealth Bank of Australia has agreed to pay the biggest civil penalty in Australian corporate history, after admitting to more than 53,000 money-laundering law breaches that allowed drug syndicates to funnel millions of dollars offshore. The nation’s largest lender will pay A$700 million ($530 million) to bring to an end the 10-month saga, which led to the departure of …

Bloomberg Indian lenders are raising interest rates even before any central bank action as the strongest loan demand in four years amid weak deposit growth pressures funding costs. State Bank of India, ICICI Bank Ltd. and Punjab National Bank are among the nation’s biggest banks that increased their benchmark lending rates last week. The Reserve Bank of India, on the …

Bloomberg JPMorgan Chase & Co. won the title of world’s largest currency trader by market share, ending Citigroup Inc.’s four-year run at the top, according to a Euromoney Institutional Investor Plc survey that featured a new methodology. JPMorgan took a 12.1 percent share, up from 10.3 percent last year. UBS Group AG came in second with 8.3 percent, and XTX …

Bloomberg Bubbling tensions between the world’s top two economies over tariffs pose no bar to diving into Chinese stocks, unless a full-blown trade conflict breaks out, according to Deutsche Bank AG. The US is on course to release its final list targeting $50 billion of Chinese imports with tariffs by June 15, with the levies taking effect soon after. And …

Bloomberg China Aircraft Leasing Group Holdings Ltd. is in talks with Airbus SE and Boeing Co. to order as many as 200 planes as the state-backed lessor seeks to meet surging demand from Asian carriers. The company is looking at single-aisle and wide-body jets from the planemakers, with the bigger aircraft slated to account for 20 percent of the order, …