China steps up oil purchases from Middle East as prices fall
Move comes as Saudi Arabia cuts pricing on exports to Asia to 6-year low
Economic news
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Citi to join ‘club’ of clearing banks controlling London gold market
Bank to join JPMorgan, UBS, ICBC and HSBC as first new clearing member for world’s largest physical gold market in a decade
CVC sells marina business for more than €1bn as yacht market booms
French private equity firm InfraVia’s purchase of D-Marin is latest in a flurry of investments in sector
EasyJet reaches outline agreement on £5.5bn takeover by Castlelake
UK airline’s board says it is minded to recommend proposal by US private credit group
How the Iran crisis undermines the Bank’s QT programme
Unlike the previous crises, this time the Bank carried on selling. It is time for a rethink.