Bloomberg Micron Technology Inc. shares fall after the largest US chipmaker said it recently halted shipments to China’s Huawei Technologies Co. Micron also cut capital spending plans, warned about weaker demand from some corporate customers and forecast possible oversupply in a key market next year. Shares of the company dropped 3.6% in extended trading. The stock is down almost 6% ...

Bloomberg Oil retreated on renewed concerns over demand as some of the world’s biggest traders warned that a recovery is still some way off as the pandemic continues to cast a shadow over the market. US benchmark crude futures fall as much as 2.2%. Global confirmed deaths from the coronavirus — which has eviscerated energy demand — topped 1 million. ...

Bloomberg India is considering a floor price for natural gas produced from local fields to shield explorers like state-run Oil & Natural Gas Corp (ONGC) as tariff slumps, people with knowledge of the matter said. Shares of explorers gained. The proposal being considered by the oil ministry pegs the price to the popular benchmark Japan-Korea Marker that is used for ...

Bloomberg Mexican President Andres Manuel Lopez Obrador vowed to restore the national oil company to its former glory. Instead, Petroleos Mexicanos is drowning in debt, its oil output is declining, and now it appears to be losing fuel market share in its own backyard. In the past 21 months of the Lopez Obrador administration, Pemex has lost roughly 13% of ...

Bloomberg United Airlines Holdings Inc’s pilots agreed to accept lower minimum pay guarantees to prevent almost 4,000 of their members from being put on furlough. The pact with United won 58% support in a vote by union membership, the Air Lines Pilots Association (ALPA) said. The airline had sought to cut costs while avoiding pilot layoffs because of the expense ...

Bloomberg Amazon.com is about to test whether consumers who have taken to online shopping in huge numbers during the pandemic will spend even more for deals during the company’s Prime Day sales event. The largest online retailer will offer discounts for paying members of its speedy-shipping and video streaming service beginning on October 13. The two days of discounts come ...

Bloomberg Singapore Airlines Ltd is opening one of its Airbus SE A380 superjumbos as a temporary restaurant, joining a gaggle of other carriers trying out novel ways to raise cash while the coronavirus decimates air travel. Diners can choose their cabin class where they will be served meals with two alcoholic drinks and free flow of other beverages, the carrier ...

Bloomberg South Africa’s National Treasury wants strict conditions attached to any guarantees it provides for loans to the country’s embattled state airline, according to two people familiar with the matter. Treasury and Department of Public Enterprises officials met to discuss ways to restart South African Airways, the people said, asking not to be identified because the talks are private. Representatives ...

Bloomberg LVMH countersued Tiffany & Co weeks after pulling out of its $16 billion purchase of the iconic New York-based jeweller, saying the decision was driven by the French government’s request to delay the deal’s closing and Tiffany’s mismanagement during the pandemic. The maker of Louis Vuitton bags contends Tiffany’s business was devastated by the coronavirus outbreak and that provides ...

Bloomberg Airbus SE is considering reduced working time in production areas in France over the next two years to help the European planemaker limit job losses prompted by a collapse in global air travel due to Covid-19. The move would help it preserve skills in order to restart single-aisle aircraft production at rates similar to last year between 2023 and ...