Bloomberg Business

Derecho With Hurricane-Strength Winds Knocks Out Oklahoma Power

A fast-moving line of storms blasted through central Oklahoma Sunday night, generating hurricane-strength winds, spawning at least seven tornadoes and leaving about 16,000 homes and businesses without power as of Monday morning.

UK Taxpayers Face £200 Billion Hit From Losses on QE Program

(Bloomberg) — UK taxpayers will be on the hook for as much as £200 billion ($240 billion) of potential losses from the Bank of England’s quantitative easing program after the Treasury lodged plans to cover any future shortfall with parliament last week.

Ex-UK Chancellor Javid to Join Centricus Asset Management

Sajid Javid, the UK’s former Chancellor of the Exchequer, is set to join London-based Centricus Asset Management Ltd., people with knowledge of the matter said, joining a long list of politicians who’ve moved into financial services after leaving office.

China Lithium Probe Shuts Down a Tenth of Global Supply

China’s lithium industry is reeling as its top production hub — responsible for around a 10th of the world’s supply — faces sweeping closures amid a government probe of environmental infringements.

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