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Bernard Madoff fraud victims to get US$568 million reimbursement

About 31,000 investors worldwide will soon get payments derived from U.S. government settlements

Italy Set to Earmark About 3.5 Billion Euros to Curb Power Bills

(Bloomberg) — Sign up for the New Economy Daily newsletter, follow us @economics and subscribe to our podcast. Italy’s government will spend around 3.5 billion euros ($4.1 billion) to protect consumers from a surge in energy prices that’s hit countries across Europe, according to people familiar with the matter. The disbursement could be approved as soon as next week, […]

Trump Impeacher Gonzalez Decides Not to Seek Re-Election

(Bloomberg) — Representative Anthony Gonzalez of Ohio, one of 10 House Republicans who voted to impeach Donald Trump, announced he would not seek re-election next year rather than face a primary challenge from an opponent endorsed by the former president. Gonzalez, 36, cited the increasing responsibilities he and his wife, Elizabeth, face as parents to […]

CN Rail targets cost cuts, buybacks to boost profit 20% and fend off shareholder revolt

TCI is trying to replace the CEO and four members of the board

OCI, Adnoc Push Ahead With IPO of Fertilizer Venture

(Bloomberg) — Chemical producer OCI NV and Abu Dhabi National Oil Co. are planning to list their Middle Eastern fertilizer venture as soon as October, people with knowledge of the matter said.  Advisers to the company, known as Fertiglobe, have been holding early meetings with potential investors and aim to announce plans for the initial […]

Energy Crisis Darkens Pound Outlook Even as Market Prices Hikes

By Libby Cherry (Bloomberg) — The prospect of a protracted energy crisis in Europe is muddying the outlook for the pound and outweighing any boost it stands to receive as investors price in a faster pace of rate hikes.  With the continent facing a gas shortage and the U.K. hampered further by damage to its […]

Iron ore’s brutal collapse under $100 flags more trouble ahead

Top ore miners' shares have dropped sharply since August

China formally applies to join Asian trade deal Trump abandoned

CPTPP, of which Canada is a member, originally envisioned by U.S. as economic bloc to counterbalance China's growing power

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