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Bloomberg Citigroup Inc. is chalking up its wayward $900 million payment to lenders of the embattled cosmetics giant Revlon Inc. to one thing: human error. The bank — which said it has been in the process of upgrading its loan operations platform after a review it undertook last year — said it mistakenly transmitted the payments after an employee didn’t …

Bloomberg Credit Suisse Group AG may cut as many as 500 positions in Switzerland as part of plans to restructure its retail business in the country. Andre Helfenstein, chief executive officer of the Swiss Universal Bank and head of Switzerland, announced the cuts on a call with reporters after the bank had earlier signalled changes to its banking business. The …

Bloomberg Stocks climbed in Europe and Asia alongside US equity futures as America and China signalled progress on their phase-one trade deal. Treasuries edged lower with the dollar. S&P 500 futures advanced and shares rose throughout most of Asia as the two countries reaffirmed their commitment to a deal despite disagreement over issues such as tech security and Hong Kong. …

Bloomberg India’s benchmark stock index swung between gains and losses as investors assessed the recent rally that drove the gauge to a six-month high. The S&P BSE Sensex was little changed at 38,813.79 as of 11:42 am in Mumbai, having fluctuated between an advance of 0.5% and a decline of 0.3%. The NSE Nifty 50 Index was also little changed. …

ABU DHABI / WAM PCI Pharma Services (PCI), a leading pharmaceutical and biopharmaceutical global supply chain solutions provider, and portfolio company of Partners Group, announced on Monday the signing of a definitive agreement for the acquisition of majority stake in the company by Kohlberg & Company, LLC (Kohlberg). Kohlberg is a leading private equity firm headquartered in Mount Kisco, New …

Bloomberg Oil edged higher as production was disrupted by two storms approaching the US Gulf Coast. Futures rose 0.8% in New York. Almost 58% of crude output, or more than 1 million barrels a day, in the Gulf of Mexico was closed as of midday. The storms Marco and Laura — the latter of which is forecast to become a …

Bloomberg Royal Dutch Shell Plc said it’s considering a sale of a Norwegian natural gas supplier, as the energy major continues to selectively dispose of assets. The company is exploring a disposal of its Gasnor unit, a spokesperson confirmed in response to Bloomberg queries. Shell has approached infrastructure funds and private equity firms about a deal, people with knowledge of …

Bloomberg To do its part to help avoid catastrophic climate change, Japan must significantly change its power mix between now and 2030, according to a report by the Asia Investor Group on Climate Change. The country must lift the proportion of renewable energy in its generation to 50%, and nuclear to 20%, by 2030 to meet Paris Agreement goals of …

Bloomberg Mid-tier Chinese coal miner Shanxi Coal International Energy Group is planning a significant investment in the competing business of making high-tech solar power cells. The state-owned firm will lead a joint venture to build a 3-gigawatt solar manufacturing plant for 3.19 billion yuan ($461 million), according to a statement. It’s the first phase of a project that will grow …

Bloomberg Blackstone Group will see a $5 billion gain from selling a stake in the largest liquefied natural gas export terminal in the US. The firm’s private equity business is unloading its stake of just over 40% of Cheniere Energy Partners LP to Brookfield Asset Management Inc and its own affiliated infrastructure group, according to a filing. Brookfield negotiated the …