Bloomberg US stocks rallied, Treasuries turned higher and the dollar fell after a dovish tone from the Federal Reserve chairman fueled speculation the central bank is closer than thought to pausing on rate hikes. The S&P 500 surged to a session high and the Dow Jones Industrial Average jumped more than 400 points after Jerome Powell said rates are “just ...

Bloomberg The pound could revisit this year’s high above $1.43 if Brexit uncertainty is removed, as long-term foreign investors are waiting in the wings to scoop up UK assets for their attractive valuation, according to NatWest Markets. Sterling is undervalued against most Group-of-10 currencies in terms of OECD purchasing power parity. It has fallen 14 percent against the dollar, 13 ...

Bloomberg Bitcoin’s biggest gain since July is providing some relief to battered cryptocurrency investors, but it may be too soon to call a bottom. That’s the assessment of Kenetic Capital’s Jehan Chu after Bitcoin rallied, climbing 5.6 percent to $3,980 in Hong Kong. The virtual currency is on course for its largest advance since July 24, according to Bloomberg composite ...

Bloomberg Canada’s lingering crude glut isn’t hindering the country’s growing oil output, according to the National Energy Board’s most recent forecast. The country’s oil production will average 4.59 million barrels a day, 22,000 more than previously forecast, data from the Canadian energy regulator show. The raised production outlook comes even as pipeline bottlenecks have driven Canadian crude prices to record ...

Bloomberg Solar companies gained after the world’s largest panel manufacturer said demand in China was rebounding. JinkoSolar Holding Co Chief Executive Officer Kangping Chen said in a statement that Beijing’s solar cutback has not slowed sales as much as expected and that a global supply glut is easing. “We are confident that Chinese demand will return next year,” Chen said. ...

Bloomberg Tesla Inc has started the second phase of its virtual power plant in South Australia as it seeks to potentially connect 50,000 homes to provide as much capacity as a large gas turbine. Solar panels and Tesla’s Powerwall batteries will be installed at 1,000 public housing properties during the second stage, South Australia’s Energy Minister Dan van Holst Pellekaan ...

Bloomberg Indonesia’s Go-Jek plans to roll out a preliminary version of its ride-hailing app in Singapore, bringing fresh competition to the hometown of arch-rival Grab, according to people familiar with the plan. Go-Jek’s beta app will be available to a limited number of consumers before expanding it to a wider population as testing progresses, said the people, who asked not ...

Bloomberg New Zealand has followed Australia in banning China’s Huawei Technologies Co. from supplying fifth-generation wireless equipment to the nation’s telecommunications operators, citing national security concerns. News of the ban came via Spark New Zealand, which said its intention to use Huawei 5G equipment had been blocked by the Government Communications Security Bureau. The GCSB told Spark that, if implemented, ...

Bloomberg Carlos Ghosn, the embattled former chairman of Nissan Motor Co., denied reports that he passed on personal trading losses to the carmaker, the first comment from the executive who is detained on numerous allegations of financial misdeeds. Ghosn acknowledged consulting Nissan about the collateral related to the contract, but didn’t transfer the losses to the automaker, said Motonari Otsuru, ...

Bloomberg China’s love for fast cars is helping Porsche AG see unprecedented demand even while industry sales fall for a fifth straight month. “We will have a very good year in China with sales increase over 10 percent,” Chief Executive Officer Oliver Blume told Bloomberg Television from the Los Angeles auto show. There’s been a very big increase especially for ...