Bloomberg Saudi Arabia, which recently pledged oil-supply increases to tame rallying crude prices, cut production last month, according to OPEC delegates familiar with the matter. The biggest member of the Organization of Petroleum Exporting Countries pumped 10.3 million barrels a day in July, according to the delegates, who asked not to be identified because the data is private. The kingdom …

Bloomberg British Airways owner IAG SA’s peak summer season is being spoiled by a combination of air traffic control strikes, exchange-rate swings and a dip in fares on key US routes. IAG shares fell the most in five months on August 3 after walkouts by French controllers pushed its Vueling arm to a wider second-quarter loss following a spate of …

Bloomberg A second-hand Airbus SE superjumbo will fly for Norwegian Air Shuttle ASA later this month, giving a model once seen as the epitome of luxury a first taste of discount travel. The A380 has been drafted in to operate between London Gatwick airport and New York’s John F. Kennedy hub after the grounding of some of Norwegian’s own Boeing …

Bloomberg Kellogg Co.’s home market remains a challenge. The company posted second-quarter sales and profit that topped analysts’ estimates and raised its revenue forecast for the year. But struggles to ignite growth in its US cereal and snacks businesses damped investor enthusiasm. The shares fell as much as percent 3.8 percent to $66.79, the biggest intraday decline in three months. …

Bloomberg Synchrony Financial lost out to Capital One Financial Corp. for a credit-card contract with retail giant Walmart Inc. Now, the company is poised to defend its turf for a Walmart subsidiary. Capital One is interested in examining the Sam’s Club portfolio currently held by Synchrony, according to people familiar with the situation, who asked not to be identified because …

Bloomberg Oil fell to the lowest in more than a week amid a surprise jump in US crude inventories and an escalating trade dispute between the US and China. Futures in New York fell as much as 1.4 percent. The American Petroleum Institute was said to report US stockpiles rose 5.59 million barrels last week. Meanwhile, the US will propose …

DUBAI / Emirates Business Emirates and Trenitalia, Italy’s national railway company, on Wednesday announced a new codeshare agreement which will enable Emirates customers from across its worldwide network to discover new destinations across Italy. With just one easy-to-book ticket, travellers will be able to fly on Emirates and reach some of Italy’s most picturesque cities and towns using high speed, …

Bloomberg Kuwait Foreign Petroleum Exploration Co. (Kufpec) is borrowing $1.1 billion to spend on oil and natural gas projects as the company plans to expand its shale operations, Chief Executive Officer Sheikh Nawaf Saud Al-Sabah said. Sumitomo Mitsui Banking Corp. and Societe Generale SA were the joint lead arrangers of the five-year loan for Kufpec, a unit of state-run Kuwait …

Bloomberg Saudi Arabia’s King Salman held his first-ever cabinet meeting in Neom, a planned $500 billion futuristic city that will host more robots than people in a desolate peninsula in the kingdom’s northwest. The sci-fi city on the Red Sea coast is designed to represent Saudi Arabia’s efforts to transform itself away from oil. The 82-year-old monarch’s visit there for …

Bloomberg A California-based clean-energy financing company closed a $103 million bond offering backed by commercial loans supporting renewables, energy-efficiency and water and seismic-upgrade projects. CleanFund Commercial PACE Capital Inc.’s bond deal is one of the first to bundle C-PACE obligations — commercial property assessed clean-energy — according to a statement. PACE uses property tax liens to repay the debts. The …