Bloomberg TUI AG blamed the grounding of its Boeing Co 737 Max fleet for wiping out a profit rebound as the world’s largest holiday company cut costs and expanded in cruise ships. The global idling of the Max following two fatal crashes meant TUI had to lease in less-efficient jets from third parties, according to a statement, cutting earnings by …

Bloomberg Home Depot Inc cut its revenue forecast on lumber price deflation and concern that President Donald Trump’s recently announced tariffs will hurt US consumption. Same-store sales — a key gauge of a retailer’s performance — rose 3 percent in the second quarter, trailing the average 3.2 percent projection, according to Consensus Metrix. The company now sees 4 percent growth …

Bloomberg Oil rose for a second day as a drone attack on a Saudi Arabian oil field revived concerns that the tense Middle East political situation may jeopardise crude exports. Futures in New York advanced 0.6 percent to trade near $55 a barrel. Yemeni rebels attacked oil and gas facilities at the Shaybah field in the southeast part of the …

Bloomberg US President Donald Trump’s tariffs on Chinese imports are getting a lot of blame for slowing the global economy, but it’s his Twitter habit that could be even more harmful. According to a report by Bloomberg Economics’ Dan Hanson, Jamie Rush and Tom Orlik, uncertainty over trade could lower world gross domestic product by 0.6 percent in 2021, relative …

Bloomberg The US will extend for another 90 days a narrow set of exemptions that had protected rural networks and other US customers from a ban on doing business with China’s Huawei Technologies Co., Commerce Secretary Wilbur Ross said on Monday. Some telecom companies in the US are “dependent” on Huawei, and thus a 90-day reprieve was deemed appropriate, Ross …

Bloomberg The UK’s oil refineries would be at a severe competitive disadvantage if Britain exits the European Union without a deal and tariffs were imposed on its gasoline exports, according to an industry group. A leaked government document, on the implications of a no-deal Brexit, claimed that two of the UK’s oil refineries could be forced to shut down if …

Bloomberg South Sudan has made a new crude find in the northern oilfields of Adar and plans production by the end of the year, Information Minister Michael Makuei Lueth said. The oil will be linked to the nearby Paloch oilfields that are managed by Dar Petroleum Operating Co., Lueth said on Monday by phone from the capital, Juba. Petroleum Minister …

Bloomberg The imminent overhaul of global ship-fuel regulations is finally delivering a long-awaited benefit to Asian oil refiners. Profits from turning crude into diesel in the second half of 2019 are forecast to be about 31% higher than the first six months, according to Goldman Sachs Group Inc. Margins have already expanded around 40% since late April as International Maritime …

Bloomberg US equity futures rose alongside stocks in Europe and Asia as traders parsed the latest trade news from Washington and awaited commentary from the Federal Reserve chief. Treasuries fell with European government bonds. The three main US equity-index contracts advanced with the Stoxx Europe 600, which extended its gains to a session high as Bloomberg reported Germany is preparing …

Bloomberg The recovery in mainland China and Hong Kong stocks gathered pace on Monday, helped by Beijing’s plan to reform its interest rate system and lower borrowing costs. The Shanghai Composite Index jumped 2.1 percent and the ChiNext gauge closed up 3.5 percent, the biggest gains for both since July. The Hang Seng Index rose 2.2 percent, the most in …