Bloomberg China and the European Union vowed to oppose trade protectionism in an apparent rebuke to the US, saying unilateral actions risked pushing the world into a recession. Vice Premier Liu He — President Xi Jinping’s top economic adviser — said China and the EU had agreed to defend the multilateral trading system, following talks on Monday in Beijing. The ...

Bloomberg Big Oil’s fortunes are becoming tied more closely to natural gas than ever before. Majors including Royal Dutch Shell Plc and BP Plc have boosted their proportion of gas output in recent years, helping them trim Exxon Mobil Corp.’s lead as the world’s most valuable oil company. Meanwhile Chevron Corp. added two giant Australian liquefied natural gas projects and ...

Bloomberg Angola is targeting an increase of about 250,000 barrels a day in oil output by 2020 and is already in discussions with oil majors Exxon Mobil Corp. and Equinor ASA to achieve this, said Sonangol’s Chairman of the Board Carlos Saturnino. New energy legislation and more favourable investment terms have already spurred interest from international operators, including Chevron Corp. ...

Bloomberg The Republic of Congo expects to raise oil production by as much 65 percent this year as two new projects come on stream, Hydrocarbons Mi- nister Jean-Marc Thystere-Tchicaya said. Congo joined OPEC and plans to open up its oil industry, which the government says is dominated by Total SA and Eni SpA, to new investors. Sub-Saharan Africa’s third-biggest oil ...

Bloomberg US stocks slid to three-week lows as President Donald Trump’s threats of more trade protectionism against major partners were met with Chinese and European vows of retaliation, rattling global equities and sparking demand for the safety of bonds. The S&P 500 Index fell to the lowest since May, with technology shares leading declines on reports the US Treasury Department ...

Bloomberg A boost from the Bank of England, spoilt in no time by Brexit gloom — this has been a recurring pattern for the pound of late. This week may be no exception. While a hawkish surprise out of Thursday’s BOE meeting — namely, Chief Economist Andy Haldane’s shift of stance in favour of raising interest rates — gave the ...

Bloomberg KKR & Co.’s leveraged buyout of Toys ‘R’ Us is coming under scrutiny by state pension funds that are questioning the private equity firm’s role in the bankruptcy of the world’s largest toy retailer. The Minnesota State Board of Investment decided to temporarily halt future commitments to KKR as it reviews the investment, while the Washington State Investment Board ...

Bloomberg Chanel Ltd., known for No. 5 perfume, little black dresses and financial secrecy, opened its books for the first time to reveal almost $10 billion in sales last year — a level that rivals luxury leader Louis Vuitton. It also reveals a vastly larger fortune for the two brothers that own the luxury giant than prior estimates. Alain and ...

Bloomberg Boeing Co. and the US Air Force anticipate delivery in October of the first KC-46 aerial refuelling tanker, settling a disagreement over timing for the much-delayed $44.3 billion programme, according to the service’s No. 2 civilian official. The new schedule is two months earlier than the Air Force had projected. Undersecretary Matthew Donovan called it “aggressive but achievable” in ...

Bloomberg Conagra Brands Inc. has approached Pinnacle Foods Inc. about a potential deal that would add popular freezer-aisle brands to its roster at a time when frozen-food sales are booming, according to people familiar with the matter. The rival food manufacturers have had contact in recent weeks, said the people, who asked not to be identified as the details aren’t ...