Bloomberg A Chinese oil contractor halted work on an expansion project in Venezuela because it hasn’t been paid, underscoring the difficulties for the Nicolas Maduro regime even at energy ventures backed by allies. China Huanqiu Contracting and Engineering Corporation, an affiliate of government-run China National Petroleum Corp., (CNPC) notified the Sinovensa joint venture it has suspended work to expand a crude …

Bloomberg An Indian state-owned refiner is mulling purchase of American oil from Chinese sellers offering cargoes that would be hit by new tariffs on US supplies. Bharat Petroleum Corp. is looking for opportunities to buy some US crude diverted from their original destination of China, according to Refineries Director R. Ramachandran. He said the previously-reported purchase of up to two …

Bloomberg British Airways is preparing to cancel nearly all its flights on Monday and Tuesday after pilots vowed to strike following a breakdown in talks over a new contract, according to a person familiar with the matter. The UK carrier will scrap both short and long-haul destinations, said the person, who asked not be named because the information isn’t public. …

Bloomberg Mitsubishi Aircraft Corp got a boost for its long-delayed SpaceJet regional aircraft, as Mesa Air Group Inc signed a pact to negotiate a potential 100-plane deal. The memorandum of understanding (MoU) calls for Mitsubishi and Mesa to discuss terms for a firm order of 50 SpaceJet M100 planes with purchase options for 50 more. Deliveries would begin in 2024, …

Bloomberg UK citizens are learning to live with uncertainty surrounding Brexit and making travel plans without worrying too much about the future, according to the head of EasyJet Plc, Britain’s biggest low-cost airline. “If a situation continues for an extended period of time it becomes the new normal,” Chief Executive Officer Johan Lundgren said in a Bloomberg TV interview. “I …

Bloomberg Louis Vuitton plans to add roughly 1,500 manufacturing jobs in France over the next three years, ramping up production to feed surging demand from China and other emerging economies. While the luxury label has opened factories in Italy, Spain and the US, Chief Executive Officer Michael Burke said it’s committed to keeping the majority of its supply chain in …

Geneva / Emirates Business The International Air Transport Association (IATA) announced slowing global passenger demand growth for July. Total revenue passenger kilometres (RPKs) rose 3.6 percent, compared to the same month in 2018. This was down from 5.1 percent annual growth recorded in June. All regions posted traffic increases. Monthly capacity (available seat kilometres or ASKs) increased by 3.2 percent …

Bloomberg America’s merchandise trade with China continued to sag in July despite a tariff-war truce between the world’s two largest economies that’s since evaporated as President Donald Trump escalated levies and China retaliated. US exports of goods to the Asian nation fell 2.7% from the prior month while imports declined 1.9%, narrowing the trade gap between the countries to a …

Bloomberg Google’s YouTube agreed on Wednesday to pay a $170 million fine and limit ads on kids’ videos to settle claims that the company violated children’s privacy laws. The world’s largest video-sharing site agreed to pay the fine, which is a record for a children’s privacy case, of $136 million to the US Federal Trade Commission and $34 million New …

Bloomberg JPMorgan Chase & Co has landed on six property stocks that can best weather the Hong Kong turmoil after applying a worst-case scenario that envisages home prices plunging 30 percent, retail sales falling by a similar amount and prime office rents sinking 40 percent. While a worst-case scenario may seem a rather grim starting point, analysts at the New …