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Saudi Arabia's Best Bet Is to Crash the Price of Oil

(Bloomberg Opinion) — Saudi Arabia should give up trying to manage the global crude market and return to the pump-at-will policy it briefly adopted in 2014 under its longest serving oil minister Ali Al-Naimi.In the mercantilist world in which we now live, where decisions are based on narrow national interest, it makes no sense for…

UPDATE 1-Brazil awards contracts for 2.98 gigawatts of new power projects

The Brazilian government awarded on Friday contracts for companies to build new power generation installations with combined capacity of 2.98 gigawatts, that will cost about 11.16 billion reais ($2.71 billion) to be built. According to the power trading chamber CCEE, the new plants, which will need to be operational in six years, will sell energy…

Dollar Pessimism is Back

The dollar declined dragged by domestic economic data with optimistic markets hopes for the Brexit deal. Over the last week, the dollar index lost about 1.4%, while EURUSD strengthened by 1.2% and GBPUSD jumped by 5.5%.

Teva to donate over $15 bln worth of drugs in opioid settlement – source

Teva Pharmaceuticals is in talks to contribute over $15 billion worth of drugs as part of a settlement to resolve lawsuits alleging it helped fuel the U.S. opioid crisis, a source familiar with the matter told Reuters on Wednesday. The news follows media reports that major drug distributors McKesson Corp, AmerisourceBergen Corp and Cardinal Health…