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Bloomberg When Spanish Prime Minister Mariano Rajoy forced an election in the rebel region of Catalonia, the aim was to halt the political chaos after a declaration of independence by separatists that reverberated across Europe. Instead, more upheaval looks set to emerge. It’s going to be tough to discern any real winner from the vote on Thursday following a campaign ...

Bloomberg Russia’s natural gas exporter is channeling more money into its fight for market share as the US threatens its biggest European pipeline project with possible sanctions and looks to deliver more fuel to the region by tanker. Gazprom PJSC plans to spend 802 billion rubles ($13.7 billion) on routes to Europe and China in 2018, almost 41 percent more ...

Bloomberg Saudi Arabia announced its budget deficit narrowed in 2017 to below 10 percent of economic output for the first time since the collapse in oil pri- ces, as the kingdom prepared to unveil what is expected to be an expansionary budget for next year. The shortfall dropped to 8.9 percent of gross domestic product from almost 13 percent in ...

Bloomberg India’s state-backed Energy Efficiency Services Ltd. is delaying its initial share sale on expectatio- ns that an increase in its revenue will make the offering more attractive to investors. EESL, which is tasked with helping the nation reduce emissions, initially planned to launch its initial public offering as soon as the fourth quarter. It has now pushed back the ...

Bloomberg Crude lingered near $57 a barrel for a third day as oil workers in Nigeria suspended a strike and repairs to a crucial North Sea pipeline proceeded apace. Futures slipped 0.2 percent in New York, erasing gains from earlier in the session. Managerial workers in Africa’s second-largest crude-producing nation halted their strike and agreed to reopen talks next month. ...

Bloomberg A deal meant to preserve a key source of financing for wind and solar developers in the Republican tax bill contains some hid-den pitfalls that could undercut its benefit. “If Congress thought they were eliminating the trouble for renewables, they were wrong,” Greg Jenner, a partner at law firm Stoel Rives LLP, said in an email. “It’s a question ...

Bloomberg Didi Chuxing, the ride-hailing giant that vanquished Uber Technologies Inc. in China, is turning to franchising in Taiwan as it expands its business beyond the mainland. Didi plans to only operate as a taxi hailing platform in Taiwan and is seeking to work with existing drivers that it’s recruiting through its Facebook page. The recruitment is being done by ...

Bloomberg Ride-hailing startup Ola is buying Foodpanda’s Indian operations and will invest $200 million in the business, taking its battle with Uber Technologies Inc. into meals-on-demand. ANI Technologies Pvt’s Ola will acquire Delivery Hero AG’s local Foodpanda business in return for Ola stock, it said in a statement. The move coincides with the aggressive expansion of UberEATS in the country, ...

Bloomberg Tata Steel Ltd. plans to raise as much as $2 billion in a rights offer to help add capacity in India, where demand for the alloy is forecast to triple in over a decade. The money will be used to build and buy mills as well as to repay debt, the company said an exchange filing on Tuesday. The ...

Bloomberg SoftBank Group Corp. is betting that technology can overhaul the home insurance industry by leading a $120 million round in Lemonade Inc. The New York-based startup, which uses artificial intelligence and bots to minimise paperwork and speed up the claims process for renters and homeowners, had raised $60 million before the announcement. Previous backers included General Catalyst, Alphabet Inc.’s ...