Petronas Second-Quarter Profit Slides as Energy Prices Cool
Malaysia’s state oil company Petroliam Nasional Bhd. reported a 29% drop in the second-quarter net income compared to last year, as energy prices retreated from last year’s surge.
Bloomberg Business
Raimondo Told Chinese Officials That Email Hack ‘Erodes Trust’
US Commerce Secretary Gina Raimondo said she spoke with Chinese officials about a recent hacking of her emails and used that as an example of something that “erodes trust” in the relationship.
UK Mortgage Approvals Plunge as Higher Interest Rates Bite
UK mortgage approvals fell almost 10% in July as higher interest rates made it harder for Britons to afford a home.
Wintershall Dea Weighs Selling Stake in Germany’s WIGA Pipeline
Wintershall Dea GmbH, an energy venture between chemicals group BASF SE and billionaire Mikhail Fridman, is exploring the sale of its stake in a company running some of Germany’s crucial gas pipelines, people with knowledge of the matter said.
Companies Face Refinance or Dump Dilemma for Pricey Debt
Companies with hybrid bonds coming due face a choice from September: Refinance at substantially higher costs or ditch the debt altogether.
Raimondo Emphasizes Need for ‘Predictable’ Regulations in China
US Commerce Secretary Gina Raimondo stressed the need for a predictable regulatory environment in China as she wrapped up a visit to the nation intended to improve economic ties.
Novo Buys Embark Biotech to Find New Avenues for Weight Loss
Novo Nordisk A/S agreed to buy Embark Biotech, a Danish company working on appetite suppression, for up to €471 million ($512 million) as it seeks to retain its edge in the booming field of weight loss.
Tiger Cubs’ Wrong-Way Bets Cut Flow of Fresh Cash to a Trickle
Not so long ago, investors couldn’t get enough of the Tiger Cubs, the hedge funds run by Julian Robertson’s proteges. Now the flood of money has slowed to a trickle, after the portfolios posted some of their worst returns ever.
PetroChina Posts Record First-Half Profit Despite China Slowdown
China’s biggest oil company posted a record first-half profit as higher output offset lower crude prices and a slowdown in the nation’s economy.
Spain Inflation Quickens in First Peek of Key Data for ECB
Spanish inflation quickened again in the first of a string of reports from around the region that will help European Central Bank officials judge whether to keep raising interest rates.
