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Yamana Gold Inc. said it has entered an agreement with Agnico Eagle Mines Ltd. and Pan American Silver Corp. after determining their takeover offer was superior to an earlier bid by Gold Fields Ltd. The company’s board “now unanimously recommends that Yamana shareholders vote against the Gold Fields transaction,” when they meet to vote on the deal on Nov. 21, …

Tanzania will sign key agreements with oil majors including Equinor ASA and Shell Plc next month to pave the way for a planned $40 billion liquefied natural gas export project, according to the nation’s Energy Minister January Makamba. “It’s happening,” January Makamba said in an interview in Sharm el-Sheikh, Egypt, where he is attending the COP27 international climate summit. “In …

German Finance Minister Christian Lindner has laid out plans for the country to spend €83.3 billion ($83.4 billion) on gas and electricity subsidies next year, according to a ministry document obtained by Bloomberg. It shows €40.3 billion will be earmarked to cover the cost of gas and district heating, including a one-time payment in December for businesses and households. A …

New Zealand central bank governor Adrian Orr has been reappointed for a second five-year term, giving him the opportunity to complete an aggressive tightening cycle as the bank seeks to regain control of inflation. Finance Minister Grant Robertson reappointed Orr after a “unanimous recommendation” from the Reserve Bank Board, Robertson said on Tuesday in Wellington. Orr’s second term begins on …

Citigroup Inc is increasing holiday allowances for UK staff, the latest bid by a bank to improve its working culture. From January, new employees will get 27 days of annual leave, increasing to 28 after two years and 29 after five years, Kathryn Skelton, head of human resources in the UK, said in an internal memo seen by Bloomberg. Previously …

Kotak Mahindra Bank Ltd.’s investing banking arm is planning to expand its operation by hiring about 20 bankers, betting on a rebound in deals activity next year. The addition would mean a 25% increase to its current 80-strong investment banking unit, according to S Ramesh, managing director and chief executive officer of Kotak Investment Banking. The firm is looking to …

PayPal Holdings Inc. announced it has reached a truce with Apple Inc. and the two technology giants will begin accepting each other’s products in their separate payment ecosystems. Starting next year, PayPal and Venmo debit cards will be accepted inside the Apple Wallet, meaning consumers will be able to use them anywhere Apple Pay is accepted, PayPal said in a …

UBS Group AG is branching out into rural Brazil to find millionaires created by rapid growth in the agribusiness and tech industries. The Swiss bank plans to open a wealth-management office in the midwestern city of Goiania, the capital of what’s known as Brazilian Texas because of its similarities to the farm-rich US state. Another will open this month in …

The operator of McDonald’s restaurants in China has raised about $2 billion in bank loans to free up liquidity that will help operate the business, according to people familiar with the matter, as the country maintains its zero-tolerance approach to fighting Covid-19. Chinese state-backed Citic Ltd., Citic Capital and US private equity firm Carlyle Group Inc. acquired control of the …

Amazon.com Inc. is freezing staffing levels in its profitable advertising business, according to a person familiar with the matter, showing that the world’s largest e-commerce company is taking more drastic measures to align expenses with slowing sales. The headcount freeze was announced internally, said the person, who asked not to be identified because the plans are private. Amazon will continue …