Funding & Business
China Shuns Low-Grade Coal From Indonesia as Imports Collapse
Indonesia bore the brunt of a sharp fall in China’s coal imports last month, underscoring how Chinese power plants have shifted away from lower-quality fuel due to persistent domestic oversupply.
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Bank of America has promoted Jim DeMare and Dean Athanasia to co-presidents. Bloomberg’s Nina Trentmann tells Romaine Bostick and Katie Greifeld on “The Close” the move is part of a broader C-suite shakeup. (Source: Bloomberg)
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Bank of America is planning a shake-up of its senior leadership ranks in a move that narrows the slate of leaders who could one day succeed long-time CEO Brian Moynihan. The discussion involves expanding the role of Jim DeMare, who runs the firm’s trading business, along with promotions for other senior leaders, according to people with knowledge of the matter. Sridhar Natarajan has more on “Bloomberg The Close.”
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The IPO market kicked into high gear this week, with sextet of deals raising more than $4 billion in the busiest period since 2021.
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