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Bloomberg Philadelphia Energy Solutions LLC, owner of the largest oil refinery serving the New York Harbor gasoline and diesel market, filed for Chapter 11 bankruptcy protection. The company, a joint-venture between The Carlyle Group LP and a subsidiary of Energy Transfer Partners LP, filed a petition in US Bankruptcy Court in Delaware. Chief Executive Greg Gatta said in a memo ...

DUBAI / Reuters Saudi Arabia has asked banks for proposals to refinance its $10 billion international syndicated loan and to help the sovereign raise funds through other means, the country’s debt management office said. In addition to the req- uest for proposals (RFP) on the loan refinancing, the government has issued RFPs covering further US dol- lar debt capital market ...

Bloomberg Sanofi SA agreed to buy Bioverativ Inc., a spinoff from biotech giant Biogen Inc., for about $11.6 billion in a bid by France’s biggest drugmaker to gain treatments for rare blood disorders. The deal values haemophilia drugmaker Bioverativ at $105 a share, according to a statement from Sanofi. Sanofi shares fell 2.6 percent to 71.05 euros at 9:18 am ...

Bloomberg For the modern foreign-exchange trader, it’s now possible to find a date, hail a cab and trade $100 million—all through their mobile phone. The world’s biggest financial market is embracing the iPhone era as investors find new ways to work when they’re not on the trading floor. In a JPMorgan Chase & Co. survey of more than 400 institutional ...

Bloomberg Financial markets in Britain and the EU will face instability and significant business disruption if the UK exits the EU in March 2019 without a transition deal or final settlement on a number of crucial issues, a finance industry trade group warned. There are at least five key areas where financial firms need clarity from UK and EU policymakers ...

Bloomberg UK Prime Minister Theresa May set out a plan to defend capitalism from capitalists, after the collapse last week of construction company Carillion Plc put at risk public-sector projects from roads to hospitals. In an article for the Observer newspaper, May pledged new rules to deal with executives “who try to line their own pockets by putting their workers’ ...

Bloomberg With the Trump administration warning of a possible war with North Korea, US allies in Asia are sounding the alarm on another risk: a clash with China in the western Pacific. China has recently accelerated air and naval excursions in sensitive areas near Japan and Taiwan, part of a longstanding quest to expand its military presence further from its ...

Bloomberg Lawmakers failed to negotiate an end to the government shutdown despite a bipartisan effort to broker a deal, raising the political stakes as federal agencies begin closing at the start of their normal workweek. Many more Americans will begin feeling the repercussions of a shutdown that officially began at 12:01 am after most government offices had stopped work for ...

Bloomberg US President Donald Trump believes his decision to recognise Jerusalem as Israel’s capital — a step that antagonised Palestini-ans — will ultimately provide new momentum to Middle East peace talks, Vice President Mike Pence said. Pence expressed confidence that Trump’s approach will help resolve the 70-year-old Israeli-Palestinian conflict as he opened a two-day visit to Israel at a meeting ...

Bloomberg Chancellor Angela Merkel moved forward in her bid to form a fourth-term government after her prospective coalition partner agreed to shelve its misgivings and enter negotiations on a common policy platform for Germany. Merkel, 63, welcomed the outcome of vote by Social Democratic Party delegates in Bonn following what she termed an “intensive and contentious” debate. The chancellor’s Christian ...