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Bloomberg China will pursue ‘neither loose nor tight’ monetary policy to ensure basically stable liquidity, People’s Bank of China (PBOC) Deputy Governor Chen Yulu said. The central bank will continue to implement “prudent and neutral” monetary policy, and create a “neutral and moderate” financial environment for supply-side reform, Chen told the Tsinghua PBCSF Global Finance Forum in Beijing Saturday. Intensified ...

Bloomberg Italy may have no time to rest on its laurels after brokering a deal to keep Banca Monte dei Paschi di Siena SpA in business. While an “in principle” agreement between Finance Minister Pier Carlo Padoan and European Union Competition Commissioner Margrethe Vestager will help save the world’s oldest bank through paving the way for a precautionary recapitalization, the ...

Bloomberg Brazil is taking steps to promote new renewable-energy projects as the government seeks to reassure the industry that political turmoil won’t threaten current power policies. The country will organize at least one power auction for clean-energy projects this year, according to Eduardo Azevedo, secretary of energy planning and development at the Ministry of Mines and Energy. A second auction ...

Bloomberg Vestas Wind Systems A/S, the world’s biggest maker of wind turbines, dropped to its lowest in more than 1 1/2 months after US President Donald Trump’s decision to exit the Paris climate accord threw into doubt the future of renewable energy. Vestas fell as much as 3 percent, and traded 2.3 percent lower at 571.50 kroner as of 12:53 ...

Bloomberg Oil tankers shipped the most crude from Iraq in six months in May, when OPEC’s second-biggest producer was negotiating with the group’s other members to persist with supply constraints to shore up the global market. Tankers loaded 122 million barrels of Iraqi crude at ports in the Persian Gulf and Mediterranean Sea last month, according to vessel-tracking and shipping ...

DUBAI / Reuters Goldman Sachs has applied to Saudi Arabia’s capital markets regulator for a licence to trade equities in the kingdom, two sources familiar with the move said, in the latest step by Western banks to expand operations in the country. Goldman has made the application to the Capital Market Authority (CMA) and a successful outcome could lead to ...

Bloomberg General Electric Co. said it’s ready to ship a 1.5 billion euro ($1.7 billion) offshore wind platform destined for the North Sea, underscoring the industrial giant’s commitment to clean power. The platform is a key part of the DolWin3 offshore project and will help transmit wind power generated in the North Sea, according to Alf Henryk Wulf, who heads ...

Bloomberg President Donald Trump’s plan to exit the Paris climate accord is seen curbing the willingness of European Union lawmakers to tackle low carbon prices. Europe will probably need to focus on protecting its industry from economic costs the US now won’t bother with, said Andrei Marcu, a senior fellow at the International Centre for Trade and Sustainable Development in ...

Bloomberg Forget car salesmen. General Motors Co. should think a little more like ice cream vendors, according to billionaire hedge fund manager David Einhorn. Einhorn has been waging a months-long battle with GM to get the largest US automaker to split its stock into two classes — one would collect on the company’s dividend, and the other would capture the ...

Bloomberg There are plenty of explanations for the weaker-than-expected May jobs report, but the big picture is clear: The US labour market has lost some of its mojo. Monthly payroll gains are averaging 162,000 this year, a step down from the 2016 pace of 187,000, following a below-forecast rise last month and downward revisions to March and April in Labor ...