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Bloomberg A federal jury in New York is set to start mulling the fate of former JPMorgan Chase & Co banker Akshay Aiyer, who is accused of conspiring with traders at other banks to eliminate competition by manipulating currency markets and boost their own profits. Over more than two weeks, prosecutors presented evidence highlighted by testimony from former Citigroup Inc ...

Bloomberg Hungary’s central bank left its monetary policy setup unchanged, ignoring a depreciation in the forint and a surge in core inflation in one of the European Union’s fastest-growing economies. The central bank, which has pledged to make substantial adjustments only on a quarterly basis, left the overnight deposit rate at -0.05%, matching economists’ predictions. It also left the parametres ...

Bloomberg One of the largest Encana Corp shareholders says the oil and natural gas producer’s plan to move to the US is “highly discriminatory” against Canadian investors. Letko, Brosseau & Associates Inc, which has a stake of about 4%, will vote against Encana’s plan to relocate to the US, the investor said in a statement. The Montreal-based firm says the ...

Bloomberg California intensified its battle against fossil fuels by seeking independent reviews of all pending hydraulic fracturing permits and halting approvals of a key production technique in an area that has pumped crude for more than a century. Governor Gavin Newsom ordered regulators to assess the safety of high-pressure steamflooding, a production process that has been linked to recent oil ...

Bloomberg New Jersey Governor Phil Murphy is doubling his state’s offshore wind power goal as he competes with New York and elsewhere to jump start an industry expected to create thousands of jobs. New Jersey plans to install 7.5 gigawatts of offshore wind by 2035, up from a previous target of 3.5 gigawatts by 2030. It will be enough for ...

Bloomberg An isolated gold mine in Western Australia plans to become the first in the country to get its power from combined wind and solar generation on site, as projects increasingly look to co-locate the two technologies as a way to overcome intermittent renewable power. Stage one of the hybrid renewable project at Gold Fields Ltd’s Agnew mine, located nearly ...

Bloomberg Sweeping changes to Mexico’s clean energy regulations by president Andres Manuel Lopez Obrador’s administration has sparked a legal backlash from the industry. In October, Mexico’s energy ministry said it would grant older, government-run projects the same energy certificates — known as CELs — as the new projects the certificates were designed to support. Now, clean energy companies representing 14 ...

Bloomberg American equity-index futures declined along with stocks in Europe and Asia after the US Senate passed legislation supporting Hong Kong protesters, drawing a rebuke from China and potentially complicating trade talks. Bonds gained. Contracts on all three major US indexes declined, signalling a weak open in New York. The 10-year Treasury yield fell to a three-week low and the ...

Bloomberg A world-beating stock gain is quickly unraveling in Hong Kong, showing how fast sentiment can change as protests convulse the city. The Hang Seng Index lost 0.8% on Wednesday. It had surged 2.9% in two days, with volatility sinking 11% in that time. Short-selling volume reached 16% of total equity turnover — near a record of 20% in August ...

Bloomberg Europe’s wealthiest man is spending more than $1 billion on a Paris department store at a time when other shops are going out of business and consumers are turning to Amazon.com Inc. La Samaritaine, part of billionaire Bernard Arnault’s LVMH luxury empire, is set to reopen next April after a 15-year renovation. The company gave reporters a tour of ...