Bloomberg Japan’s largest clothing maker Fast Retailing Co issued an apology on its Korean website for remarks that angered Korean customers amid the trade spat between Japan and South Korea. At its earnings press conference on July 11, the Uniqlo owner’s CFO Takeshi Okazaki said he “thinks” that the impact of a boycott of Japanese goods wouldn’t last long. In …

Bloomberg United Parcel Service (UPS) Inc is seeking approval to operate delivery drones under the same rules as a private jet service, unlocking the potential to carry health-care packages over long distances between hospitals. The company is working with the US Federal Aviation Administration (FAA) to obtain Part 135 certification this year, a step toward freeing it from current commercial …

BEIJING / WAM Chinese President Xi Jinping has stressed the significance of peace and stability in the Gulf region for the Middle East as well as for the whole world, saying the region should be an “oasis of security” rather than a new “source of turmoil.” “China backs the UAE’s commitment to regional peace and stability,” Xi said, calling on …

Bloomberg The US has sanctioned a Chinese state oil trader for violating restrictions on Iranian crude, an attempt to tighten restrictions on the Islamic Republic and cut off one of its biggest buyers. Zhuhai Zhenrong Co., the secretive company with links to the Chinese military, has a history of taking Iranian crude and fuel, at times as part of barter …

Bloomberg The International Monetary Fund further reduced its global growth outlook, already the lowest since the financial crisis, and suggested that policy “missteps” on trade and Brexit could derail a projected rebound. The world economy will expand 3.2 percent this year and 3.5 percent next year, both down 0.1 percentage point from April projections, the fund said in its latest …

Bloomberg Blackstone Group is considering selling its stake in Cheniere Energy Partners LP, according to people familiar with the matter, seven years after agreeing to invest about $1.5 billion in the owner of the first major liquefied natural gas export terminal in the US. The private equity firm is working with an adviser on a potential sale of its interest …

Bloomberg Germany-based clean-energy fund Hep Kapitalverwaltung AG agreed to invest $50 million to $80 million annually in a partnership to develop small solar projects in the US. Hep and ReNew Petra, a North Carolina-based renewable energy company, plan to jointly develop more than 100 megawatts of solar annually, according to a statement. Their venture, Emerald Hills Holding, will enable ReNew …

Bloomberg Oriental Energy Co, China’s biggest importer of liquefied petroleum gas (LPG), is considering an initial public offering (IPO) of its trading and logistics unit on the Singapore stock exchange. The company is in discussions with the exchange and the city-state’s government about the share sale for its subsidiary Oriental Energy (Singapore) International Trading Pte, according to an official at …

Bloomberg US stocks rose as investors assessed a batch of strong earnings and signs of progress in trade talks with China. Treasuries fell and the dollar rose. The S&P 500 climbed for a second day, though gains faltered as the index pushed back toward 3,000. Coca-Cola climbed to a record, while Lockheed Martin and United Technologies jumped after the trio …

Bloomberg The pound slipped on concern the UK may leave the European Union without a divorce deal after members of the Conservative party voted for Boris Johnson to be the next prime minister. Sterling fell for a third day after Johnson, who has vowed to march the UK out of the EU with or without a deal by October 31, …