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Bloomberg Saudi Arabia shot down rumours it might cut oil production, but reaffirmed its commitment to an output freeze that could restrict crude flows to market this summer. With the world’s biggest exporter already pumping near-record volumes, that may not matter. Last week’s pledge to cap production at January levels along with Russia, Venezuela and Qatar — repeated on Tuesday ...

BLoomberg The pound sank below $1.39 for the first time since March 2009, while a gauge of anxiety in currency markets showed traders are preparing for even more extreme moves. Options traders are paying the most to protect against price swings in six months’ time compared with historical volatility since Lehman Brothers Holdings Inc. collapsed during the 2008 credit crisis. ...

London / Bloomberg Thirteen former senior military officers insisted Britain should stay in the European Union on Wednesday, saying the country was “stronger” as a member of the 28-nation bloc in a “dangerous world”. Writing ahead of a membership referendum on June 23, the retired military chiefs said the EU helped protect the country against threats from IS extremists and ...

Bloomberg A British exit from the European Union would be so devastating for the pound that 29 out of 34 economists in a Bloomberg survey see it sinking to $1.35 or below within a week of a vote to leave — levels last seen in 1985. Twenty-three of the economists say sterling wouldn’t recover from that rate within three months ...

Bloomberg Ukraine’s war with pro-Russian rebels may be frozen but the legal battle between Vladimir Putin and Petro Poroshenko is just heating up. The $3 billion lawsuit Russia filed against Ukraine in London last week over a bond default is just a fraction of the $63 billion Ukraine is seeking in lawsuits and other legal claims from Stockholm to The ...

Bloomberg PSA Peugeot Citroen will set new growth goals after cost-cutting and recovering demand in Europe helped the French automaker beat targets set two years ago following a bailout. Automotive operating profit last year was 5 percent of revenue, far exceeding a 2 percent margin goal for 2018, the company said in a statement Wednesday. Free cash flow was almost ...

Bloomberg Germany’s 30-year government bonds advanced for a fifth day, reducing the extra yield they offer over shorter maturities, known as flattening the yield curve, as the nation prepared to auction debt due in July 2044 on Wednesday. German bonds rose as European stocks declined with sliding oil prices prompting investors’ demand for safer assets. With the average yield on ...

Bloomberg Foreign holdings of rupee-denominated debt are falling at the fastest pace since December as losses in Indian bonds deepen and the currency hovers near a record low. The nation’s sovereign notes have turned into Asia’s worst performers in 2016, from the best in the previous two years, amid concern Prime Minister Narendra Modi’s Feb. 29 budget will show fiscal ...

Bloomberg Based in a drab office building in Dublin down the road from a pub frequented by Prime Minister Enda Kenny, VPB Funding Ltd. had no employees but one function: selling bonds. In 2013, it issued $225 million of unsecured notes. The proceeds of that sale were funneled to Vneshprombank Ltd., a Moscow lender whose license was revoked last month ...

Bloomberg Standard Bank Group Ltd., Africa’s largest lender by assets, said it expects to report that 2015 profit increased by as much as 35 percent because of reduced losses at its international operations. Earnings per share excluding one-time items will range from 13.52 rand ($0.89) to 14.60 rand a share from 10.81 rand in 2014 when using international financial reporting ...