Bloomberg Jumia Technologies has identified improper transactions at the Africa-focused online retailer’s Nigeria business that amounted to as much as 4 percent of first-quarter sales. While the Berlin-based company says it’s taking measures to cut out instances of wrongdong, the findings backed up warnings made by short-sellers Citron in a report three months ago, which brought an abrupt end to ...

Bloomberg Qantas Airways Ltd will run marathon ghost flights from New York and London to Sydney carrying just a few staff to see how the human body holds up before commercial services start. Qantas said it will simulate the world’s longest direct flights with Boeing Co Dreamliners as soon as October. The payload of 40 passengers and crew, most of ...

Bloomberg Cathay Pacific Airways Ltd, trying to contain the damage it has suffered from staff taking part in Hong Kong’s anti-Beijing protests, cautioned employees that misuse of social-media platforms could be a breach of rules set by China’s authorities. In a message to employees, Cathay said that posting, responding and sharing content on social media could go against the demands ...

Bloomberg Poor water quality saps one-third of potential economic growth in the most heavily polluted areas, according to a new global analysis by the World Bank that underscores how crucial clean water is to productivity. “Deteriorating water quality is stalling economic growth, worsening health conditions, reducing food production, and exacerbating poverty in many countries,” World Bank Group President David Malpass ...

Bloomberg A global glut in natural gas is threatening to undermine a $4 billion investment by Reliance Industries Ltd. aimed at boosting profits at the world’s largest oil refining complex. The project made all the sense in world when energy magnate Mukesh Ambani’s conglomerate announced it in 2012: convert petroleum coke, or petcoke, one of cheapest and dirtiest refinery by-products, ...

Bloomberg An acceleration in economic growth in South Africa could trigger power cuts, with state utility Eskom Holdings SOC Ltd.’s fragile generation system unable to respond to increased demand for electricity. The energy availability of Eskom’s generation fleet is supposed to be as high as 80%, but is currently as low as 69%, and even a 0.1% rise in gross ...

Bloomberg Canada’s oil-rich province of Alberta is extending its output cuts by a year as delays to key pipelines threaten to prolong a glut of crude in the region. The curtailment program, which will now end in December 2020, had been slated to wrap up at the end of this year as Enbridge Inc.’s expansion of the Line 3 pipeline ...

Bloomberg Rosneft PJSC’s second-quarter net income fell as the Russian giant suffered the effects of weaker oil prices and production cuts, but the decline was less severe than analysts expected. While the results show the impact on Rosneft of the Druzhba crisis, in which millions of barrels of exports to central Europe via the Soviet-era pipeline were contaminated with chemicals, ...

Bloomberg US equity futures climbed with European stocks after a mixed session in Asia as investors assessed the latest news on trade and awaited more clues on monetary policy. Treasury yields ticked higher after retreating earlier. Contracts on the three main US equity gauges advanced a day after the S&P 500 Index closed lower as US President Donald Trump showed ...

Bloomberg Japan’s negative-yielding bonds were a surprise beneficiary of the collapse in global rates in July. Foreign investors more than doubled purchases of the nation’s debt last month to 2.88 trillion yen ($27 billion) from 1.28 trillion yen in June, according to data from Japan Securities Dealers Association. The bulk of purchases were in the two-to-five-year bracket, where the extra ...