Bloomberg Justin Trudeau is resetting after a rocky year dented his chances of re-election. The Canadian prime minister shuffled his cabinet on Wednesday, swapping roles like trade and natural resources — amid the purchase and eventual resale of Kinder Morgan Inc.’s Trans Mountain oil pipeline — while leaving key posts like finance and foreign affairs unchanged, ensuring a continuity of ...

Bloomberg US equities mostly edged lower as shares of slumping energy and technology companies offset gains in financials after Morgan Stanley earnings beat forecasts. European shares advanced after a mixed session in Asia. The Nasdaq Composite Index dropped from a record high as Google parent Alphabet Inc. faced a $5 billion fine and Twitter was downgraded. The dollar strengthened as ...

Bloomberg The yuan fell to the lowest since August as the dollar rallied, raising speculation that Chinese officials are comfortable with the currency’s weakness. The yuan fell as much as 0.29 percent to 6.7229 per dollar, while the overseas-traded currency also weakened. Chinese stocks reversed earlier gains, with the Shanghai Composite Index and the Hang Seng China Enterprises Index closing ...

Bloomberg Vitol Group, the biggest independent oil trader, and mining giant Peabody Energy Corp are joining forces to give coal a new lease on life. The companies have teamed with a UK startup that’s developed a process to pulverize coal, remove impurities and pollutants, and blend it with crude or fuels for use by refineries and other customers. While unproven ...

Bloomberg Dominion Energy Inc is working with JPMorgan Chase & Co to seek buyers for two power plants in Pennsylvania and Rhode Island, according to people familiar with the matter, as it sells assets to pay down debt. The Richmond, Virginia-based company could fetch about $1.5 billion from the sales of its natural-gas-fired Fairless and Manchester Street Power Stations, said ...

Bloomberg Reliance Industries Ltd., India’s second-largest company by market value, plans to raise about $5.8 billion in fresh debt this financial year as it expands its consumer businesses, according to people familiar with the matter. The billionaire Mukesh Ambani-led company will raise funds through loans and bonds, mostly in the Indian currency, the people said asking not to be named ...

Bloomberg China’s electric-vehicle battery sector is set for a brutal reshuffle as the government reforms subsidies to meet the more exacting technological demands of next-generation transport, according to Sanford C. Bernstein & Co. China built massive new battery capacity in recent years, aided by generous government support, creating industry heavyweights Contemporary Amperex Technology Ltd. and the Warren Buffett-backed BYD Co. ...

Bloomberg Akzo Nobel NV’s growth in China stuttered as Europe’s biggest coatings maker opted to push through higher prices for household paint at the expense of losing some customers. “After really sharp growth in China, we made a more deliberate choice to hit the pause button on growth,” Chief Executive Officer Thierry Vanlancker said on a media call. That led ...

Bloomberg South Korea has trimmed its economic growth forecasts for this year, citing rising global trade tensions and a slump in facilities investment. Asia’s fourth-largest economy is expected to grow 2.9 percent in 2018, versus an earlier forecast of 3 percent, the finance ministry said on Wednesday. The economy grew 3.1 percent in 2017. “Exports excluding semiconductors are stagnant and ...

Bloomberg Swatch Group AG, the maker of Omega and Tissot timepieces, reported the highest first-half profit in three years, fuelled by Asian demand and market share gains across its collection of 18 brands. Operating profit rose 70 percent to $628 million, the Biel, Switzerland-based company said in a statement. Analysts expected 612 million francs. The stock rose as much as ...