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Bloomberg California regulators want to use money from the state’s climate change cap-and-trade programme to offset rising utility bills, as the coronavirus forces many residents to stay home. Some of the proceeds from the system — which makes power plants, factories and many businesses pay for the greenhouse gases they emit — go to California residents twice each year as ...

Bloomberg Alberta Energy Minister Sonya Savage will participate in an Opec+ call next week aimed at resolving the global oil price war and will “keep an open mind” on how the province can participate in a solution, Premier Jason Kenney said. “We cannot have a meaningful impact on global prices because of our landlocked status,” Kenney said in response to ...

Bloomberg Saudi Telecom Co has postponed talks to raise debt to fund the acquisition of Vodafone Group Plc’s stake in its Egyptian business because of the coronavirus outbreak, according to people with knowledge of the matter. Work on the acquisition is still continuing and the kingdom’s largest telecoms operator may resume negotiations with banks for a loan of more than ...

Bloomberg Toronto home sales surged in March, though government measures to stem the spread of the Covid-19 virus slowed real-estate activity in the second half of the month. Sales in around Canada’s largest city jumped 12.3% from a year earlier to 8,012 transactions, while the benchmark price climbed 2.3% from February to a non-seasonally adjusted C$865,200 ($611,881), the Toronto Regional ...

Bloomberg Record low interest rates are tempting some retail investors in Singapore to load up on debt to buy shares, just as the coronavirus outbreak creates the most volatile markets since the global financial crisis. Earlier this year, 31-year-old insurance agent Heng Kai Sheng got advances on three separate credit cards to the tune of S$150,000 ($105,000). With the money, ...

Bloomberg For the longest time, Canadian real estate investment trusts were a stalwart for income investors. Now, dividend payments hang in the balance as commercial and residential tenants struggle to pay rent during a pandemic that has shut down much of the economy. Typically seen as a place to get a high, safe payout in a world of low bond ...

Bloomberg The bad-asset bank created when a group of Russia’s biggest private lenders collapsed sees the twin shocks of plunging oil prices and global economic pain wrought by the coronavirus pandemic as a chance to expand. “There’s every reason to believe that the amount of problem assets in 2020 will grow significantly,” Bank Trust Chief Executive Officer Mikhail Khabarov said ...

Bloomberg Norway’s sovereign wealth fund, the world’s biggest, lost a record $113 billion in the first quarter after the economic shock caused by the coronavirus pandemic triggered a sell-off in global stock markets. The loss comes at an historic moment for the fund, as it may soon need to liquidate assets for the first time to cover Norway’s emergency spending ...

Bloomberg For years, there was an allergy inside Goldman Sachs to owning a private corporate jet. Top bankers had access to rides on planes shared with others, but didn’t want to erode their less-than-stellar image on Main Street with the unnecessary extravagance of having their own. Until David Solomon took over. The bank ordered a pair of Gulfstreams late last ...

Bloomberg Bank of America Corp. (BofA) Chief Executive Officer Brian Moynihan expects the US economy to bounce back fairly quickly once the coronavirus health crisis is resolved. “There are no structural issues in the economy — it’s a health-care crisis, and I think if we mitigate that health-care crisis, you will see on the other side of this a rebound,” ...