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Bloomberg For option traders, the lira is headed for a period of calm. Contracts that measure expected swings in the currency over the next month retreated the most in emerging-market in 2016 to the lowest level since December 2014, a sign of growing confidence in Turkey’s economy. The drop is a boost for carry traders, who buy higher yielding assets ...

Thetford / AFP Toby Bulgin’s face wrinkles worriedly as he surveys his farm and contemplates the looming vote on Britain’s EU membership that could leave his livelihood hanging in the balance. The sunbathed fields, bleating lambs and birdsong on his farm in Norfolk, eastern England, seem a long way from the European Union’s corridors of power in Brussels. But Bulgin ...

Bloomberg Hedge funds holding debt in Puerto Rico’s Government Development Bank sued to stop the island’s key fiscal entity from making payments to local government agencies as it faces a growing cash shortage and the prospect of insolvency. The funds, which include affiliates of Brigade Capital Management, Claren Road Asset Management and Solus Alternative Asset Management, accused the bank in ...

Bloomberg Health insurers that offer private Medicare Advantage plans will get a smaller-than-expected increase in payments next year. The U.S. is raising payments to the insurers by 0.85 percent on average, according to a statement from the Centers for Medicare and Medicaid Services, down from the 1.35 percent boost proposed in February. Payments to individual insurers can vary, because CMS ...

Bloomberg Vale SA, the world’s largest iron ore producer, is selling its share in Brazilian steel mill venture CSA to German partner Thyssenkrupp AG for a “symbolic price,” the company said, part of a strategy to dispose of non-core assets to help bolster its balance sheet. The miner based in Rio de Janeiro will exit the venture by unloading its ...

Bloomberg Petrobras Chairman Nelson Carvalho has opposed a management proposal to reduce the price of gasoline in a bid to boost sales, said a person familiar with the discussions. Jorge Celestino, the head of refining, proposed a price cut at a time Petrobras is losing market share, said the person, who asked to remain anonymous because the discussions aren’t public. ...

Bloomberg After almost two years of sinking oil prices and at least 40,000 job cuts, Canada’s petroleum industry still isn’t finished tackling its bloated operations. The next round of layoffs has already begun with Cenovus Energy Inc. and Murphy Oil Corp. announcing workforce reductions last week. Ongoing cuts by Suncor Energy Inc., Encana Corp. and others will likely result in ...

AFP Despite slashing oil imports, Canada’s trade deficit with the world widened to Can$1.9 billion (US$1.5 billion) in February, according to the government statistics agency. The figure is up from Can$628 million (US$476 million) the previous month, and about one billion dollars more than the street expected. Exports fell 5.4 percent from a record high in January to Can$43.7 billion ...

Bloomberg US international trade grew in February after a steady fall since 2014, but still remained lower than year-ago levels, the Commerce Department reported on Tuesday. Exports and imports were both higher after sinking to nearly five-year lows in January, a mark of the overall slowdown in global trade as well as the plunge in commodity prices. Exports rose by ...

Vienna / AFP Talks to end the worst violence in decades in the disputed territory of Nagorny Karabakh kicked off in Vienna on Tuesday. The meeting gathered Russia, the United States and France in the so-called Minsk Group, spearheading attempts to end a low-key conflict that revived bloodily and dangerously last Friday. Analysts say the crisis could set a spark ...