Hedge funds reduced their bets on rising West Texas Intermediate crude prices by the most in almost nine months as U.S. inventories climbed and concern eased that sanctions against Russia will disrupt oil supplies.
U.K. coal-fed power stations will gain an extra year of profitability after the government froze a carbon dioxide emissions tax designed to help fight global warming, according to Bloomberg New Energy Finance.
As the European Union steps up its response to Russian president Vladimir Putin’s annexation of Crimea, German companies are urging caution lest sanctions harm their business ties -- and Europe’s shaky economic recovery.
OAO Gazprom, the world’s biggest natural-gas producer, may maintain its dividend ratio at last year’s level as fallout from Russia’s annexation of the Crimean region overshadows record 2013 exports to Europe, according to two people with knowledge of the plan.
Macquarie Group Ltd., Australia’s biggest investment bank, expects its full-year earnings to rise as much as 45 percent to the highest since 2008 as the outlook for its fixed-income, currencies and commodities unit improved.