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Bloomberg China’s central bank said it won’t use the yuan as a tool to cope with trade tensions and other external issues, and that it won’t conduct any “strong” economic stimulus. The People’s Bank of China (PBOC) won’t implement stimulus in “flood-irrigation” style, according to the quarterly monetary policy report released in Beijing. Prudent monetary policy should maintain neutrality and …

Bloomberg Greek lenders face higher financing costs after the European Central Bank said it will stop accepting the country’s government debt as collateral from August 21, the day after the nation’s bailout programme ends. The ECB will remove a waiver exempting Greek bonds from a rule that all collateral must be investment grade. The exemption was conditional on Greece being …

Bloomberg The list of perks at Deutsche Bank AG is shrinking fast. Investment bankers at Germany’s largest lender have been told to travel coach class on trains; fewer are able to attend conferences and some former employees said severance pay was less generous than previous handouts. Even small treats like the daily fruit bowls are disappearing. The frugal ethos described …

Bloomberg The autonomous-vehicle gap between Ford Motor Co. and its rivals from Detroit and Silicon Valley can be measured in years. Yet even a company playing catch-up in the race to turn self-driving technology into high-margin businesses is drawing interest from outside investors, an indicator of just how much money is pouring in. “I’m really excited about what I’m hearing …

DUBAI / Emirates Business Don’t miss your chance to be among the first in the UAE to own the super powerful Galaxy Note9, that is available for pre-order until August 24 from major retailers, operators and Samsung brand stores, as well as online on Shop.Samsung.com/ae. Customers who pre-order the device will be the first to experience the powerful S-Pen, the …

Bloomberg New York’s city council dealt a political blow to Uber Technologies Inc. and other app-based car-for-hire companies by approving a one-year industry wide cap on new licenses and giving the city Taxi & Limousine Commission authority to set minimum pay standards for drivers. The passage of sweeping industry regulations signalled politicians’ changed attitudes towards the so-called gig economy and …

Bloomberg Few corners of the tech industry are as tantalising or complex as quantum computing. For years evangelists have promised machines capable of breaking the most impenetrable coded messages, unlocking the secret properties of the physical world and putting supercomputers to shame. But Rigetti Computing, one of the most prominent and well-funded startups in the field, would just like to …

Bloomberg Fears about global oil supplies have receded after producers pumped more, according to the International Energy Agency (IEA), which a month ago warned of a potential shortage. “Concerns about the stability of oil supply have cooled down somewhat, at least for now,” the agency, which advises most of the world’s major economies, said in a monthly report. “We have …

Bloomberg After partnering for nearly three decades at Australia’s oldest liquefied natural gas export plant, Woodside Petroleum Ltd. and Chevron Corp. are competing to shape the next phase of the country’s gas development. Both are vying to build a pipeline from hundreds of kilometers offshore that will allow them to develop their own fields, as well as let third parties …

Bloomberg Jet Airways India Ltd. was once at the forefront of India’s rapidly growing market for air travel, but a challenge from budget carriers and surging fuel prices are backing the airline into a corner. Shares of the carrier, part-owned by Etihad Airways PJSC, plunged 8.5 percent in Mumbai after the company postponed announcing its first-quarter earnings. That’s less than …