September, 2018

• 8 September

  Manafort weighs plea deal to avoid new criminal trial

  Bloomberg Paul Manafort’s lawyers have talked to US prosecutors about a possible guilty plea to avert a second criminal trial set to begin in Washington this month, according to a person familiar with the matter. Manafort, President Donald Trump’s former campaign chairman, was convicted of bank and tax fraud last month in a Virginia federal court. He’s accused in Washington ...

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• 8 September

  Serbia-Kosovo talks upended as land-swap plan rattles Europe

  

  Bloomberg Serbia’s president cancelled a meeting with his Kosovan counterpart and Serbia’s prime minister separately warned the international community not to test its patience in an unexpected escalation of tension between the neighbouring countries. Aleksandar Vucic scratched a planned meeting with Kosovo’s President Hashim Thaci in Brussels on after meeting European Union foreign policy chief Federica Mogherini. Vucic had suggested ...

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• 8 September

  Swedish election heads for gridlock

  

  Bloomberg Sweden’s political establishment is bracing for a punishing on Sunday as voters in the largest Nordic economy look poised to turn out for a nationalist party in big numbers. The two traditional political blocs are running neck-and-neck, but will be far from winning a majority with anti-immigration Sweden Democrats gaining backers. The ruling Social Democrats could suffer the worst ...

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• 8 September

  Odds rising Florence will strike US East Coast next week

  Bloomberg Tropical Storm Florence is poised to strengthen as it swirls deep in the Atlantic Ocean and moves towards the US East Coast. The storm is about 905 miles (1,460 kilometres) southeast of Bermuda, with winds of about 65 miles per hour, the US National Hurricane Center said in a bulletin. It’s on pace to hit the US on Thursday, ...

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• 8 September

  Permian oil auction receives record $1bn as bidding soars

  

  Bloomberg The price to access unexplored shale assets on the New Mexico side of the Permian Basin soared to $95,001 an acre in a federal government auction, a record high for North America’s biggest oil field. The state’s previous record was $40,001 an acre set in December, according to a statement by the US Department of the Interior. Overall, the ...

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• 8 September

  Orsted opens world’s largest offshore wind farm in Irish Sea area

  

  Bloomberg Orsted A/S unveiled the world’s largest offshore wind farm, an 87-turbine complex in the Irish Sea covering an area more than double the size of Manhattan. The Walney Extension off the coast of northwest England has a generating capacity of 659 megawatts and is capable of powering 590,000 homes, according to Danish company Orsted, the world’s biggest developer of ...

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• 8 September

  Mexico’s Amlo to continue drilling service contracts

  Bloomberg Mexico’s next president said he will continue with tenders for drilling service contracts starting when he takes office. “We are preparing the rescue plan for the oil industry that will consist of producing more crude oil soon, and we will need these companies that have experience, most of them national companies,” President-elect Andres Manuel Lopez Obrador said. “We are ...

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• 8 September

  Growth in tight oil shakes up futures markets, hedging needs

  Bloomberg The vibrations of the shale boom are now shaking the futures market. A visible decline in open interest of West Texas Intermediate crude futures contracts for delivery five or more years in the future is due to the growth of tight oil fields and the shift in producers’ need to hedge oil so far out in the future, according ...

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• 8 September

  Ride-hailing giant Grab aims to double its revenue in 2019

  

  Bloomberg Singapore’s Grab outlined ambitious fundraising plans and predicted that sales will double next year, adding to evidence that Southeast Asia’s most valuable startup is expanding well beyond its roots as a ride-haling app while intensifying a rivalry with Indonesia’s Go-Jek. Revenue will double to $2 billion in 2019 as it integrates the acquisition of Uber Technologies Inc.’s regional business ...

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• 8 September

  India’s Reliance shaking off past decade’s slumber

  

  Bloomberg Reliance Industries Ltd.’s recent gains are helping one of India’s most-valuable companies catch up with the benchmark index, which it had trailed for much of the past decade. At close of trading this week, the company’s shares had surged 135 percent since it launched telecom services in 2016, nearly four times the advance in the S&P BSE Sensex, making ...

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