Bloomberg Business

Russia plans to cut its oil output by 500,000 barrels a day next month, following through on a threat to retaliate against western energy sanctions and sending oil prices sharply higher.

Less than two years ago, when Goldman Sachs Group Inc. still aspired to someday dominate retail banking, the Wall Street firm roped in Silicon Valley veteran Peeyush Nahar to lead the effort.

Turkish President Recep Tayyip Erdogan is facing mounting criticism from earthquake survivors and opposition parties over the country’s poor construction record and what they say has been an inadequate response to one of its worst natural disasters.

Pakistan and the International Monetary Fund pledged to continue loan negotiations after failing to reach a deal during the lender’s visit, indicating no immediate reprieve for the South Asian nation as it spirals deeper into an economic crisis.

China said it is willing to forge closer ties with Taiwan’s main opposition party, underscoring recent efforts by Beijing to adjust its tough approach to the democratically run island.

(Bloomberg) — Russia’s central bank kept interest rates unchanged but signaled it will consider hikes at its coming meetings should risks to inflation worsen.

The International Monetary Fund said its approval for a $2.9 billion loan to bail out crisis-riddled Sri Lanka will depend on the island nation securing assurances on debt relief from its bilateral creditors.

Adidas AG’s tearing stock rally had left analyst targets in the dust. A falling out with rapper Ye is bringing it back to the ground.

Dutch power operator TenneT Holding BV said it’s exploring a possible sale of its German business to Berlin, as the government seeks ownership of the national grid to shore up energy security following Russia’s invasion of Ukraine.

The Eskom risk premium is in full force for South Africa’s rand.