Bloomberg Canada’s economy was already on track to crumble in the second quarter as the Alberta wildfires last month took more than 1 million barrels of oil a day out of production. When you add in details from Tuesday’s report on first-quarter gross domestic product, the outlook becomes dismal. Here are some of the reasons the economy doesn’t appear ...

  Bloomberg Argentine confectioner Havanna is looking to raise as much as 277.5 million pesos ($19.9 million) in the first local initial public offering since 2013. Havanna plans to sell a 17.5 percent stake on June 6, consisting of as much as 7.5 million common shares priced at between 32 and 37 pesos, Horacio Aguilar, head of capital markets at ...

  Bloomberg Barrick Gold Corp. will pay $140 million to shareholders who sued the world’s biggest gold miner over its handling of the Pascua-Lama project on the Chile-Argentina border. The Toronto-based company settled the class action lawsuit that was filed in a New York court, Motley Rice LLC, the firm representing holders, said in a statement Tuesday. It alleges Barrick ...

  Bloomberg Oil declined for a fourth day on concern recent gains were unsustainable, while shuttered Canadian operations started to reopen. Futures fell as much as 1.8 percent in New York after rising 6.9 percent in May as supply was curbed by wildfires in Alberta and militant attacks in Nigeria. Canadian oil-sands producers including Suncor Energy Inc. have begun resuming ...

  BLOOMBERG U.S. stocks joined a slump in global equities, the dollar fell and Treasuries climbed as lackluster manufacturing data from Asia to Europe rekindled worldwide growth concerns and sent the odds for higher interest rates tumbling. The S&P 500 Index fell a second day, paring losses after data showed U.S. manufacturing unexpectedly expanded at a faster pace last month. ...

  Bloomberg French wheat fields have been hit by a deluge of rain in the past month, threatening to reduce the quality of grain before farmers start harvesting crops in July. Some areas of France, the European Union’s largest wheat grower, saw as much as 10 inches (25 centimeters) of rain in May, more than three times the normal amount ...

  Dubai / Reuters A rebound in the banking sector buoyed Saudi Arabia’s bourse on Wednesday and other Gulf bourses also rose, with Dubai’s Shuaa Capital surging on hopes that potential buyers of a stake in it had placed high bids. Saudi banking shares, which were among the market’s worst performers in May, attracted buying on dips as Saudi British ...

Bloomberg Gold held the first advance in 10 days as investors looked to the release of U.S. data this week including monthly payrolls that’ll shape the thinking of Federal Reserve policy makers on whether to raise interest rates in the months ahead. Bullion for immediate delivery traded at $1,216.18 an ounce by 10:10 a.m. in London from $1,215.32 on Tuesday, ...

  Bloomberg China’s central bank is expanding the fight to monitor and control risks emerging in the burgeoning market for loosely-regulated shadow lending. The People’s Bank of China has started collecting data from the murky world of online financing, in which firms make loans for everything from weddings to mining projects. It’s a growing part of a shadow banking market ...

  AFP The head of the world’s biggest bank by assets, Industrial and Commercial Bank of China (ICBC), is retiring, according to a statement, amid flat profit growth for the massive lender. Jiang Jianqing, 63, is leaving his post as chairman and will be replaced by current president and vice chairman Yi Huiman, ICBC said in a statement to the ...