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BHP Shares Slide as UN Probe Says Samarco Spill `Toxic'

A United Nations probe into a deadly mine spill in Brazil said waste from a burst dam was toxic and steps taken by BHP Billiton Ltd. and Vale SA to prevent harm weren’t sufficient. The companies’ joint venture Samarco Mineracao SA said there’s no danger to human health. BHP shares fell.

Episode 2: Pfizer Sticks It to U.S. Treasury

In this episode, Alex and Global M&A Managing Editor McCracken discuss the largest deal of the year and the biggest health care deal ever, Pfizer Inc. and Allergan Plc’s $160 billion merger. They ponder whether the deal, constructed so that Pfizer will pay lower taxes by domiciling in Ireland, opens the door for more so-called inversions just as the U.S. Treasury tries to crack down on them.

The Politics of High Drug Prices

Bloomberg's Drew Armstrong discusses the politics of high drug prices with Bloomberg's Scarlet Fu on "Bloomberg Markets." (Source: Bloomberg)

Oil Markets

Glencore Says Disputed Libyan Oil Deal Has Global Support

Glencore Plc oil chief Alex Beard defended the company’s crude-export contract with Libya’s National Oil Corp. in the west of the divided country after the competing administration in the east threatened to block its tankers.

PetroChina's $2.4 Billion Sale Mixes Profits With Overhaul

PetroChina Co. rose to a two-week high after announcing plans to sell pipeline stakes for as much as 15.5 billion yuan ($2.4 billion) as the nation’s biggest oil and gas producer seeks to meet year-end profit targets amid a drive to reform state-owned enterprises.

Russian ADRs Drop as Tension Mounts in Wake of Jet Downing

U.S.-traded Russian stocks dropped for a third day as tension mounted over Turkey’s downing of one of the country’s warplanes near the Syrian border, stoking concern that the hostilities in the region could spiral into a broader conflict.

Iran Sweetens Terms for Oil Investors Ahead of End of Sanctions

Iran will pitch more than 50 oil and natural gas projects to foreign investors at a two-day conference in Tehran starting Saturday as the Persian Gulf country prepares for the end of sanctions that have stifled development and production of its energy wealth.

HSBC's King Says China Holds the Key to an Oil Rebound

The jury’s still out on whether last year’s oil slump was a deliberate Saudi move, aimed at killing U.S. shale production. Whatever the case, engineering a rebound won’t be as simple, says HSBC Holding Plc’s Senior Economic Adviser Stephen King.