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Bloomberg US stocks slipped, oil surged and assets considered to be havens in times of trouble climbed after a strike on Saudi Arabia’s crude production heightened geopolitical risk. A drop in automaker shares helped drag the S&P 500 Index down the most in almost two weeks, even as energy producers climbed. Treasuries advanced with precious metals and the yen. Brent ...

Bloomberg India’s rupee halted a seven-day rally and bonds declined after a drone attack on Saudi Arabia’s oil facilities sent global crude prices soaring by the most on record. The currency fell 0.9 percent to close at 71.5963 per dollar and the benchmark 2029 bond yields rose eight basis points to 6.72 percent. The S&P BSE Sensex gauge of equities ...

Bloomberg Andre Esteves once joked that Banco BTG Pactual SA, the Latin American investment bank powerhouse he helped create, would one day become “better than Goldman” — a play on the firm’s name. Now, BTG is chasing Goldman Sachs Group Inc down another path, looking to build a digital retail bank for the masses. The firm, under the BTG Digital ...

Bloomberg Banks in Denmark have seen their aggregate profits sink this year, according to calculations by the industry’s main lobby group, which has repeatedly urged monetary policy makers to provide relief from long-term negative interest rates. Industry profits fell 20 percent in the first half of this year, Finans Danmark said. Denmark’s 17 biggest banks and mortgage lenders reported after-tax ...

Bloomberg The European Central Bank’s (ECB) latest round of easing sent a signal to institutional investors that their inflation hedges may be growing more pointless by the day. In the northernmost corner of the euro zone, a $51 billion pension fund says ECB President Mario Draghi isn’t giving his industry much hope that things will improve. “So far, the less ...

Bloomberg PJT Partners Inc has hired Bank of America Corp (BofA) dealmaker Antonin Baladi to build up its European technology, media and telecommunications (TMT) investment banking business, people familiar with the matter said. The London-based banker is joining PJT in a senior role, the people said, asking not to be identified because the information is private. Baladi, who was Bank ...

Bloomberg India’s biggest bank overhaul in decades to merge state-run lenders beset with bad loans and low capital hasn’t convinced investors to increase holdings of the shares. Fund managers including Aberdeen Standard Investments Ltd and JPMorgan Chase & Co are shying away from increasing their positions in government-owned lenders. As well as poor asset quality at the banks, they cited ...

Bloomberg Hennes & Mauritz AB’s sales growth slowed in the key July and August months, hampering the Swedish retailer’s attempt to end a three-year slump in earnings. Sales growth probably slowed down to 6 percent in those two months from 12 percent in June, Berenberg analysts said, based on calculations from figures H&M reported. The shares dropped as much as ...

Bloomberg Walmart Inc, looking to generate more profit from its online unit, wants to start storing and shipping products for third-party vendors for the first time, just as rival Amazon.com Inc has done for years. The world’s largest retailer is testing a fee-based service called “Fulfilled by Walmart,” US e-commerce chief Marc Lore said at an industry conference. Lore didn’t ...

Bloomberg Air France-KLM’s Dutch arm will face a four-hour strike at Amsterdam’s Schiphol Airport, one of Europe’s busiest travel hubs, after negotiations over a salary increase for ground staff broke down, the FNV union said in a statement on its website. “KLM continues to refuse to come to a good collective labor agreement for ground staff. They leave their own ...