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Bloomberg In the middle of UBS Group AG’s six-week tax trial in Paris, Presiding Judge Christine Mee’s tone changed. And that may have given a sign of what the bank can expect in a case that could cost it as much as $6 billion. The hearings, which have ended, started well for the Zurich-based bank. A team of 20 high-powered …

Bloomberg Nordea Bank Abp just dropped off the list of global banks deemed too big to fail, but that doesn’t mean it can hold less regulatory capital. The Financial Stability Board removed Nordea from a group it defines as global systemically important banks (G-SIB). A G-SIB needs to have more capital than other banks, so the assumption is that no …

Bloomberg Poland’s finance minister and central bank chief pledged to provide liquidity for two lenders at the center of a corruption scandal as investors again sold battered bank stocks. “We are ready to guarantee that these banks have and will maintain liquidity,” Governor Adam Glapinski said on Monday. “Their clients are safe.” He spoke after the country’s Financial Stability Committee …

Bloomberg Argentina’s central bank may eliminate the floor on its benchmark interest rate in early December if it sees a second consecutive decline in inflation expectations, according to two people with direct knowledge of the plan. The decision to eliminate the 60 percent floor may come as early as December 3, said the two people. Policy makers want to see …

Bloomberg A plunging oil price gives African central banks more to think about as they move towards a cycle of raising interest rates. With a month to go before the US Federal Reserve delivers what would be its fourth interest-rate increase of the year, African policy makers may still move to tighten to avoid a further sell-off of assets and …

Bloomberg Hedge funds are betting Opec will struggle to reverse oil’s precipitous plunge. Their combined wagers against West Texas Intermediate and Brent crude soared for a seventh straight week, the longest global short-selling streak in data going back to 2011. The bearish bets jumped 14 percent in the week ended on November 13 and have tripled since the end of …

Bloomberg Canada’s oil sector is divided over whether to force a temporary cut to production, with some major producers pushing the controversial idea in a bid to ease a supply glut and halt a steep plunge in prices, according to seven people familiar with the matter. Executives from Canadian Natural Resources Ltd and Nexen Energy ULC are among those who …

Bloomberg American fingerprints are all over oil’s record losing streak that’s plunged prices into a bear market. The State Department’s zigzag on Iran sanctions, President Donald Trump’s tweets about Opec supply, the demand-sapping trade war with China and the explosion of shale oil production are all key factors leading to the collapse in crude prices since early October, Ed Morse, …

Bloomberg ConocoPhillips plans to invite bids by the end of the year for its remaining North Sea assets, which could be valued at up to $3 billion in a sale, according to people with knowledge of the matter. The assets, which would include what’s left of its holding in the Clair Field, are likely to draw interest from private equity-backed …

Bloomberg China, the driver of global demand, is forecast to become the world’s largest gas-buying country with net imports approaching the level of the European Union by 2040, according to the International Energy Agency’s the World Energy Outlook. China already overtook South Korea as second-largest LNG importer last year and is on track to surpass Japan. By 2040, it will …