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Bloomberg European Union Trade Commissioner Cecilia Malmstrom signalled that she expects the US and EU to hit each other with tariffs as retaliation over illegal government aid to Airbus SE and Boeing Co. Malmstrom said the US is entitled to strike first by the end of summer and the EU would follow suit five to six months later after the …

Bloomberg DP World Plc mandated banks to raise about $1 billion of bonds to finance the acquisition of Topaz Energy & Marine Plc, according to three people with knowledge of the plans. The world’s largest port operator hired Citigroup Inc., Dubai Islamic Bank PJSC (DIB) and Standard Chartered Plc to arrange investor meetings in Hong Kong, Singapore and London from …

Bloomberg Oil pushed higher as Iran’s threats to retaliate over a seized crude tanker and problems with a North Sea pipeline kept investors wary of potential supply disruptions. Futures gained as much as 1.7 percent in New York on Monday. European powers urged Iran to reverse its decision to breach the levels of uranium enrichment permitted under the 2015 nuclear …

Bloomberg Brookfield Asset Management Inc. and Endesa SA are among companies weighing bids for a package of EDP-Energias de Portugal SA electricity assets that could fetch about 2 billion euros ($2.3 billion), people familiar with the matter said. The Portuguese utility is expecting initial bids later this month for about 2 gigawatts of hydroelectric power projects in Spain and Portugal, …

Bloomberg Real estate investors from Azerbaijan’s sovereign wealth fund to Blackstone Group Inc and UBS Group AG are cashing in on a surge in demand for prime Milan offices that’s pushing prices to new highs. A lack of development in Italy’s financial capital is driving up rents just as a scarcity of prime real estate in some western European cities …

Bloomberg At the start of a week stuffed with central-bank activity, US equities fell and European stocks drifted following steep share declines in Asia. Treasuries advanced as investors greeted on Monday in a cautious mood. The S&P 500 fell for a second day after the blow-out jobs report altered market calculus for Federal Reserve rate cuts, though equities came off …

Bloomberg The status of the world’s least favourite asset has its benefits. Morgan Stanley, which just slashed global equities to underweight on growth concerns, believes that European stocks can outperform weaker markets. Although European equities have over the past 30 years tended to decline more than global markets during corrections, that relationship is changing, strategists led by Graham Secker said …

Bloomberg Deutsche Bank AG unveiled a radical overhaul that will see the lender exit its equities business, post a $3.1 billion second-quarter loss and cut the workforce by a fifth to reverse a slide in profitability. Chief Executive Officer Christian Sewing will shelve the dividend this year and then take restructuring charges of 7.4 billion euros through 2022 to pay …

Bloomberg One of Japan’s biggest regional banks is resuming an expansion overseas, 20 years after the country’s financial crisis forced it to retreat. Concordia Financial Group Ltd plans to expand in Asia to offer cash management services to its Japanese corporate clients and infrastructure loans to local entities, president Kenichi Kawamura said. It aims to hire specialists and double overseas …

Bloomberg Back-to-back interest-rate cuts — and the possibility of more to come — have Credit Suisse AG feeling gloomy about Australia’s banking sector. With interest rates at a record low of 1 percent, banks are reaching the limit on how much they can reduce rates on deposits, which they rely on to fund their loan books. Australia & New Zealand …