Bloomberg Breaking the dynastic hold on Pakistani politics, former cricket hero Imran Khan won the most seats in an election tarred by widespread allegations of rigging and military interference. Khan’s Pakistan Tehreek-e-Insaf, or Movement for Justice party, clinched at least 115 national seats, according to results released by the Election Commission of Pakistan. He beat the incumbent Pakistan Muslim League-Nawaz ...

Bloomberg India’s foreign exchange reserves may soon drop below the $400 billion mark for the first time since November as the central bank steps up action to shore up one of Asia’s worst-performing currencies. Reserves have steadily declined by $21 billion from a record peak of $426 billion in mid-April, and official data showed it was little changed in the ...

Bloomberg Deutsche Bank AG is cutting dozens of employees and consolidating space at its Chicago office as part of a broader plan to shrink its US operations, according to people briefed on the matter. The German lender’s Chicago office — which houses units including front-office trading, operations and treasury — will be reducing headcount, said the people, who asked not ...

Bloomberg The Reserve Bank of New Zealand’s (RBNZ) new monetary policy committee with external members could begin deciding on interest rates in the second quarter of next year, Finance Minister Grant Robertson said. Legislation to enact the government’s RBNZ reforms should pass into law by April, which could allow the enlarged policy committee to begin deliberations as soon as May, ...

Bloomberg Blackstone Group LP, the world’s largest alternative asset manager, has picked banks for India’s first real estate investment trust (REIT) listing, people with knowledge of the matter said. The US company and local partner Embassy Group selected firms including Bank of America Corp., Morgan Stanley, Kotak Mahindra Bank Ltd. and JPMorgan Chase & Co., said the people. The REIT ...

Bloomberg The European Central Bank (EDCB) stuck to its plan to end bond purchases as the European Union and US stepped back from a trade war andthe currency bloc’s economic expansion remained solid. The Frankfurt-based institution reiterated it will continue buying $35 billion of assets a month until the end of September, reduce the pace to 15 billion euros from ...

Bloomberg American Electric Power’s (AEP) $4.5 billion Wind Catcher project was done in by shaky economics, and may become a teaching moment for other developers planning big clean-energy projects. The company pulled the plug on what would have been the biggest-ever US wind farm. Texas regulators rejected the project because it didn’t offer enough benefits for ratepayers, and Oklahoma came ...

Bloomberg BP Plc agreed to pay $10.5 billion, its biggest acquisition in almost two decades, for most of BHP Billiton Ltd.’s onshore US oil and natural gas assets, including in the prized Permian Basin. The deal gives the London-based energy giant a position in the Permian, a swath of west Texas and New Mexico that’s the world’s fastest-growing major oil ...

Bloomberg Royal Dutch Shell Plc finally gave investors the share buybacks they’ve been demanding, even as profit fell short of expectations despite resurgent crude prices. The Anglo-Dutch energy producer said that it is starting a $25 billion share-repurchase programme, initially buying up $2 billion of stock over three months. That should soothe investors who have grown increasingly anxious about when ...

When she started learning to play chess, my younger daughter was aghast that the pieces could’t always go where she wanted them to; she still ignores, for the most part, her opponent’s moves, figuring it’s enough for a victory to make good ones of her own. For two years, UK Prime Minister Theresa May has exhibited the same behavior. She ...