Bloomberg Indonesia warns of aftershocks and a possible tsunami after a 6.1-magnitude quake hit the Maluku islands, a key nickel production area. Those living along the coastlines of Japutih and Apiahu on Seram island, Maluku, should stay vigilant, the meteorological, climatological and geophysical agency said in a statement on Wednesday. Residents are told to move away from the shoreline towards ...

Bloomberg Billionaire Mukesh Ambani’s plan to conquer the Indian market with a locally assembled Google-powered smartphone is facing headwinds, with supply-chain disruptions and rising component prices suppressing production volumes, people familiar with the matter said. Ambani’s Reliance Industries Ltd originally envisioned sales in the hundreds of millions in the first years for the inexpensive device but now targets a small ...

Bloomberg Mark Zuckerberg’s approval among some Facebook Inc employees has slipped, dislodging him from Glassdoor’s ranking of the Top 100 CEOs, a list he’s been on annually since 2013. Zuckerberg put on his game face to convince a skeptical Congress that his company’s ambitious plans for a cryptocurrency will benefit millions of poor and underbanked people around the world, and ...

Bloomberg KKR & Co is considering a sale of Marelli Corp’s suspension systems business as the private equity firm shifts the focus of the car parts company towards more profitable products, according to people familiar with the matter. The buyout firm is working with an adviser on the potential disposal, which has drawn preliminary interest from private equity and strategic ...

Bloomberg Lordstown Motors Corp jumped after saying it has enough money to make its battery-powered trucks through May of next year, paring a record decline the previous day following the departure of two top executives. The automaker is actively raising additional funds and has reconfirmed orders for its debut vehicle, President Rich Schmidt said at an Automotive Press Association event ...

Bloomberg Swedish steelmaker SSAB AB is teaming up with Volvo Cars to develop fossil-free steel for use in the automotive industry. Volvo Cars will be the first carmaker to secure the greener steel, SSAB said in a statement on Wednesday. Volvo Cars will use the material for testing and possibly in a concept car, it said. For the automaker, the ...

Bloomberg The first megawatts of electricity was expected to flow between Norway and the UK on Wednesday along the longest submarine power cable in the world. Once fully operational Britain is expected to import supplies of low carbon power on a regular basis. Tests on the 1,400-megawatt, 450-mile long cable will be complete in time to transport power from Norway’s ...

Bloomberg India’s best-performing stock funds have one thing in common: they’ve bet on companies that make the chemical substances used in items ranging from lip balms to crop-boosting fertilisers. Chemicals producers make up at least 14% of the portfolio for three funds that have delivered the biggest returns this year among those with at least $500 million in total assets, ...

Bloomberg US equity futures fluctuated as investors turned cautious before a policy decision from the Federal Reserve. Oil extended a powerful rally and Treasuries were steady. Contracts on the S&P 500 index drifted between modest losses and gains after the underlying gauge snapped a three-day winning streak amid weakness in technology and real estate. Chemical producers led a small advance ...

Bloomberg Oil climbed as a chorus of prominent traders in the crude market said prices will continue to rise after a nearly 50% rally so far this year. Futures in New York advanced as much as 1.6% on Tuesday to the highest intraday level since 2018. At the FT Commodities Global summit, Glencore Plc and Vitol Group both said they ...