Bloomberg BP Plc has placed some personnel from its Singapore-based crude oil team on leave after they were mentioned in court documents filed in disputes between banks and other trading houses, said people with knowledge of the company’s move. Three members of the trading staff and one manager were placed on leave late last week as internal investigations are being ...

After months of hype, the world finally has human trial data from a front-running vaccine collaboration between the University of Oxford and AstraZeneca Plc. Spoiler alert, it’s good news. The data, published in The Lancet , showed that the vaccine produced an encouraging immune response. Just as crucially, perhaps, no significant safety issues emerged. Investors took these developments as a ...

Tesla Inc’s march to a $275 billion market capitalization has been pretty galling for Germany, the birthplace of the automobile. But the pain is felt most acutely at Daimler AG, which used to be a large Tesla shareholder. Had the owner of the luxury Mercedes-Benz brand kept hold of the almost 5 million shares it offloaded in 2014, they would ...

After days of bad-tempered talks, the European Union’s 27 members have agreed a 750 billion-euro ($859 billion) Covid-19 recovery fund that looks like a historic step toward more joint stimulus across the bloc — even if it’s not yet a “Hamilton moment.” While the unusually united Franco-German duo of Emmanuel Macron and Angela Merkel couldn’t avoid watering down their original ...

Some conservative legal thinkers speak of a “Lost Constitution” or “Constitution in Exile.” By that they mean the Constitution as it was understood before President Franklin D Roosevelt’s New Deal helped form the modern regulatory state. Their Constitution in Exile would invalidate key parts of contemporary government. Some conservatives want to revive the long-dead “nondelegation doctrine,” which was once taken ...

Bloomberg Online insurance platform Policybazaar aims to go public in 2021 at a valuation north of $3.5 billion, potentially becoming the first of India’s mega-startups to debut as its digital economy booms. The startup plans to secure about $250 million in a round of financing at a $2 billion-plus valuation before a September 2021 initial public offering, co-founder Yashish Dahiya ...

Bloomberg CanSino Biologics Inc’s experimental coronavirus vaccine showed promising results in a mid-stage clinical study, paving the way for the next phase of tests as the Chinese company jostles with Western pharma giants to deliver one of the first pandemic vaccines. The shot was shown to be safe and induced an immune response, according to a study released in the ...

Bloomberg Taiwan’s top financial regulator said global banks are looking to expand on the island after China’s passage of a controversial security law in Hong Kong prompted some firms to rethink their Asian strategies. Some US securities firms are considering an expansion in Taiwan while other international banks plan to start new operations, said Huang Tien-mu, chairperson of Taiwan’s Financial ...

Bloomberg Japan’s government will start subsidising some companies to invest in factories in Japan and South-East Asia as part of efforts to reduce reliance on manufacturing in China. Fifty-seven companies including privately-held facemask-maker Iris Ohyama or Sharp will receive a total of 57.4 billion yen ($536 million) in subsidies from the government to invest in production in Japan, the Ministry ...

Bloomberg Chinese chipmakers have surged in the past year, boosted by Beijing’s support for self-sufficiency in semiconductors and as adoption of 5G and artificial intelligence prove resilient amid the pandemic. There’s no sign that rally is about to slow even as their stocks looks increasingly expensive. Cambricon Technologies, a developer of AI chips, rose 34%, extending its first-day surge of ...