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Bloomberg Argentina’s move to a free market for energy prices remains on track. A recent decision to cap crude oil prices and limit fuel price gains in order to stem inflation was an outlier, according to Javier Iguacel, the nation’s new energy minister. Restricting crude price increases only extinguishes competition and, in turn, the possibility of cutting costs, he said. ...

Bloomberg Tata Group, India’s biggest conglomerate, is evaluating a proposal to integrate its food and beverage businesses into a single company, people with knowledge of the matter said. The Mumbai-headquartered group is considering separating the salt and branded lentils businesses of Tata Chemicals Ltd. and folding them into Tata Global Beverages Ltd., according to the people who asked not to ...

Bloomberg The US moved to block China Mobile Ltd. from entering its telecommunications market on national security grounds, launching another salvo in the fight between the world’s two biggest economies days before they’re expected to impose tariffs on each other over trade. The Federal Communications Commission should deny state-backed China Mobile’s seven-year-old application to offer international voice traffic between the ...

Bloomberg Chinese companies are expected to cancel most of the remaining soybeans they have committed to buy from the US in the year ending on August 31 once the extra tariff on US imports takes effect from July 6. China is the world’s top soybean buyer and has yet to take delivery of about 1.14 million metric tonnes of US ...

Bloomberg One year after India introduced a consumption tax, the results have been mixed. Hailed as one of the biggest reforms by Prime Minister Narendra Modi, the goods-and-services levy has helped increase tax collections in a country where compliance is historically low. While monthly receipts have picked up after a chaotic rollout, they are still not strong enough to meet ...

Bloomberg India’s top court refused to overturn a central bank ban on lenders from dealing in cryptocurrencies, a move that effectively outlaws the nascent industry in Asia’s third-largest economy. A bench headed, by Chief Justice Dipak Misra, said the Reserve Bank of India’s directive prohibiting banks, financial institutions and other regulated institutions from providing any services related to virtual currencies ...

Bloomberg UK companies are at “breaking point” over the lack of clarity on Brexit, and are slowing down their investments as they await answers to key questions surrounding Britain’s departure from the European Union, one of the country’s main business lobby groups said. Business confidence and investment intentions will continue to deteriorate until Prime Minister Theresa May ends the bickering ...

Bloomberg Glencore Plc tumbled the most in two years after US authorities demanded documents relating to possible corruption and money laundering. The world’s biggest commodity trader said on Tuesday that it’s been subpoenaed by the US Department of Justice to hand over documents related to the Foreign Corrupt Practices Act and US money laundering statutes. The documents relate to the ...

Bloomberg Interpublic Group of Cos, one of the world’s largest advertising companies, agreed to acquire Acxiom Corp.’s mark- eting-services unit for $2.3 billion, gaining tools to help clients sift through data to reach potential customers. Acxiom expects to receive $1.7 billion in net proceeds, according to a statement. The company plans to repay debt, buy back stock and reinvest in ...

Bloomberg Allianz SE plans to buy back as much as 1 billion euros ($1.16 billion) of its shares amid an abundance of capital and returns crimped by low interest rates. Europe’s biggest insurer will buy back as much as 41.5 million shares July 4 to Sept. 30 and cancel all repurchased shares, the company said in a statement. The buyback ...