Bloomberg At least three Indian brokerages have petitioned the courts to challenge the settlement of crude oil contracts at negative prices. Motilal Oswal Financial Services Ltd and PCS Securities Ltd are appealing to the Bombay High Court, which was expected to hear on April 27 their case against the decision by Multi Commodity Exchange of India Ltd. Religare Enterprises Ltd ...

Bloomberg Malaysia’s state oil company is considering raising this year’s dividend to help the government fund its nearly $60 billion stimulus package, according to people familiar with the matter. Petroliam Nasional Bhd., or Petronas, could increase the payout by as much as $2.3 billion, said one of the people, who asked not to be named as the information is private. ...

Bloomberg A narrow waterway off Singapore has become even more congested as oil-laden tankers wait out a slump in global fuel consumption that’s crimped demand and boosted the use of ships to store cargoes. About 60 clean fuel tankers are currently anchored along the busy strait, up from the usual 30-40 ships, according to Rahul Kapoor, head of commodity analytics ...

Bloomberg Argentina and the province of Buenos Aires will start setting up virtual meetings this week with institutional investors as they continue the process of restructuring more than $76 billion in debt, according to people familiar with the plan. The national government will call on about 20 institutions and funds — including BlackRock, Ashmore and Fintech’s David Martinez — to ...

Bloomberg For the first time in a decade, the world risks being cut off from Russian wheat at a time when some key buyers are rushing to import it. The top shipper last month limited sales through June to protect its own supply as the coronavirus crisis sparks food-security concerns around the world. Although the curbs were seen loose enough ...

Bloomberg Bayer AG raised the specter of “considerable liquidity challenges” as it engages in high-stakes negotiations over Roundup litigation in the US and grapples with the pandemic. The number of plaintiffs claiming that the weedkiller caused their cancers rose to 52,500 from 48,600 in February, Bayer said in its first-quarter. It’s still too early to know how Covid-19 will impact ...

Bloomberg Nearly one-third of US business economists expect operations at their companies will return to normal within five to eight weeks, though almost as many say it’s likely to be three to six months before coronavirus-mitigation efforts wind down in earnest. A survey by the National Association for Business Economics (NABE) showed respondents in the construction and manufacturing industries were ...

Bloomberg Market manipulation is still on the rise in the UK even after a decade of crackdowns on schemes to rig foreign-exchange rates and other key benchmarks. And the coronavirus pandemic could make things worse. Reports of suspected market manipulation made to the Financial Conduct Authority have increased by 23% since 2017, with a sharp jump in 2018 followed by ...

Bloomberg Germany’s spring showers haven’t materialised this year, and that’s drying out the country’s most important river, prompting concerns that key industrial goods might have trouble making it to their destination. Typically one of the wettest months, Europe’s biggest economy has received just 5% of its normal April rainfall so far, according to Germany’s federal weather service. It’s on course ...

Bloomberg The Trump administration will square off against House Democrats on Tuesday over a crucial question: Is a congressional subpoena of White House officials a formidable weapon or an empty threat? The battle, which is likely to reach the Supreme Court, could shape legal fights ranging from the quest for President Donald Trump’s tax returns to a conflict over his ...