Venezuela’s state oil driller stopped paying creditors almost six years ago. Its exports are restricted by the US. And Washington refuses to recognize the government that controls the company.
House Republicans are probing Hawaiian Electric Industries Inc.’s role in the deadly Lahaina wildfire amid a contentious blame game over the blaze that killed at least 115 people and caused more than $5.5 billion in damages.
South Africa’s plans to bring 2,000 megawatts of emergency power online last year have encountered repeated delays and none of the 11 private generation projects the government selected are operational, despite assurances that it’s doing all it can to tackle crippling electricity shortages.
Sino-Ocean Group Holding Ltd. has won bondholder approval to extend repayment for a yuan note, giving the state-backed developer some breathing room to cope with an industry-wide cash crunch.
Former Thai premier Thaksin Shinawatra has submitted a petition seeking a royal pardon from King Maha Vajiralongkorn for eight years of jail term that he was handed down when he returned to the country from a 15-year self-imposed exile.
Rebuilding from this month’s floods in Slovenia will cost €7 billion ($7.6 billion) over the next five years, Prime Minister Robert Golob said.
Rishi Sunak appointed long-time ally Grant Shapps to be the UK’s defense secretary, as the prime minister begins to shape his team ahead of a general election that’s widely expected next year.
UBS Group AG outlined major targets for its integration of former rival Credit Suisse including 3,000 domestic job cuts and more than $10 billion in cost savings, as it posted the biggest ever quarterly profit for a bank on the back of the bargain acquisition that closed in June.
European shares climbed, bolstered by record profits at Switzerland’s UBS Group AG and expectations central banks’ rate-tightening cycle may be nearing an end.
Russians are the top buyers of properties from Dubai’s biggest developer, a sign that demand from investors seeking safe havens remains strong more than a year after Moscow’s invasion of Ukraine.
