Alfred Cang

Trafigura Group is preparing to take a $1.1 billion hit after discovering what it suspects was fraud involving employees in its Mongolian oil business.

Demand for the precious metal has shoppers flocking to a jewelry hub in Shenzhen.

A small but profitable fuel-supply business concealed a ballooning web of credit exposures.

Zhejiang Huayou Cobalt Co., one of the world’s largest nickel producers, is sounding out banks for roughly $2.7 billion in financing for its Ford Motor Co.-backed project in Indonesia, according to people familiar with the matter.

Negotiators at COP29 are struggling to forge a consensus to boost funding to help poor countries. The fading US role has created a bigger opening for China.

Negotiators at COP29 are struggling to forge a consensus to boost funding to help poor countries. The fading US role has created a bigger opening for China.

Good evening from Baku. Over the past week we’ve heard lots of people opine on the role China could play in future climate talks. Today we finally get China’s point of view on all this. You can read that story — and all of our COP29 coverage — for free on Bloomberg.

Trafigura Group is reducing its share buybacks this year, as a drop in profits coincides with a generational succession at the top of the commodity trading giant, according to people familiar with the matter.

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The COP29 UN climate summit released a first draft deal Thursday which puts at least $1 trillion of financing on the table, yet key details on where that money will come from still need to be ironed out.