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Bloomberg Oil posted its biggest weekly drop in four weeks amid questions over the effectiveness of OPEC’s deal to help rebalance the market as US production continues to grow. Futures slid 1.5 percent in New York. Russia’s most powerful oil boss said output curbs by OPEC and its partners probably won’t succeed over the long term as US shale fills ...

MOSCOW / Reuters Saudi Arabia Energy Minister Khalid al-Falih said further oil output cuts could be needed in the future but that OPEC and other leading producers would assess the market situation in July, Russia’s TASS news agency reported. The Organization of the Petroleum Exporting Countries (OPEC) and other nations led by Russia agreed last week to extend a deal ...

Bloomberg One of the stodgier corners of the energy industry is getting more relaxed. Liquefied natural gas sellers, which once did business almost entirely on long-term, oil-linked contracts, are offering shorter deals, more pricing options, unrestricted shipping terms and in some cases are even willing to invest in the infrastructure their buyers need to import the super-chilled fuel. “In the ...

Bloomberg China’s yuan policy has blindsided forecasters once again. The sudden surge in the last four days — for the onshore exchange rate, it’s been the steepest gain in more than four months — pushed the currency beyond levels predicted by even the most optimistic analysts. Market watchers were caught off guard earlier in the year as well, when the ...

Bloomberg Neuberger Berman Group LLC said China will be a “hot spot” for competition among global funds as the importance of the nation’s capital markets grows. The New York-based firm, which is planning to start a private fund in China, estimates as many as five global managers will set up such operations in China by the end of this year. ...

Bloomberg Reliance Communications Ltd.’s lenders have agreed to a seven-month moratorium on the debt payments of Indian billionaire Anil Ambani’s wireless business, which had its credit rating slashed in the past month. Creditors have given Reliance Communications, or Rcom, time until December to sell its towers to Canadian asset manager Brookfield Infrastructure Group and merge the wireless business with Aircel ...

Bloomberg United Parcel Service Inc. is setting up a joint venture in China to haul more US-bound goods and capitalize on booming e-commerce in the world’s most populous nation. The partnership with S.F. Holding Co. will offer customers more routes, shipping capacity and service options, the companies said in a statement. S.F. Holding and UPS will each invest $5 million ...

Bloomberg Investors are lapping up mortgage bonds in Australia even as regulators and credit assessors step up their warnings about risks from the nation’s housing market. New residential mortgage-backed securities issuance has more than doubled so far this year to A$10.5 billion ($7.8 billion) from A$5.1 billion a year earlier, data compiled by Bloomberg show. More than half of the ...

Bloomberg As the European Union forges closer ties with China, the bloc is also moving to calm concern that Chinese exporters will destroy EU-based industries ranging from steel to solar. The EU will retain the scope to impose hefty levies against Chinese businesses that sell goods below cost in Europe under a planned tariff overhaul, according to Salvatore Cicu, an ...

Bloomberg Toyota Motor Corp. has sold its stakes in Californian electric carmaker Tesla Motors Inc., a spokeswoman for Japan’s largest carmaker said. The sale marks the end of collaboration between the two companies for now, Toyota spokeswoman Akiko Kita said by phone. Toyota held 1.43 percent in Tesla as of July 2016, according to data compiled by Bloomberg. In 2010, ...