Bloomberg China’s record haul of crude is poised to end as state-issued allowances for imports dwindle, potentially taking the wind out of the uneven recovery across global oil markets. The world’s biggest importer will ship in much less crude in September and October than it did in May and June, with private refiners seeing purchases drop as much as 40%, ...

Bloomberg Oil & Natural Gas Corp (ONGC) posted a 92% plunge in profit after crude prices crashed, production declined and demand for natural gas took a hit from a nationwide lockdown. Net income was 4.96 billion rupees ($68 million) in the three months ended in June, compared with 59.8 billion rupees a year ago, according to a company filing. Revenue ...

Well, that was a nothingbaguette. For French President Emmanuel Macron, his second visit to Beirut since the devastating blasts of August 4 yielded one memorable photo-op, some posturing before the international media, a few airy bromides about the need for political reform and an unspecified threat of sanctions against those who oppose it. For the Lebanese, it produced a loose, ...

It’s hard to believe that America’s legislators, whatever their political leanings, would willingly allow millions of children to go hungry. Yet that is what’s happening during the Covid-19 crisis — and unless Congress acts quickly, the problem’s about to get worse. In one of the world’s wealthiest nations, food insecurity should not be an issue. Yet it is. Even in ...

The “right of the people peaceably to assemble,” as the US constitution’s first amendment calls it, is one of the pillars of liberty. That’s why all liberal democracies guarantee and protect it in some form. But is this right absolute? Could there be, in well-defined cases, a liberal case for abridging it? This timeless question has just become newly urgent. ...

It would be easy to dismiss the Trump administration’s campaign against Chinese apps TikTok and WeChat as part of an election strategy to attack China from all angles. The moves, however, as well as China’s counter-response, are contributing to a deeper problem at the heart of the global economy — one that can’t be resolved unless the world’s two biggest ...

Bloomberg A snapshot of Airbus SE plane use outlines a tentative recovery still dependent on China, and continued challenges for wide-body aircraft as carriers adjust to a lack of demand. Of the 10,404 Airbus planes in global fleets, almost two-thirds had flown at least once in the previous five days, according to an August 24 newsletter sent by the European ...

Bloomberg Chinese consumers are back to binging on luxury handbags, cosmetics and cars. But this shopping enthusiasm is not extending to mass consumption in sporting goods and restaurants. An uneven recovery is under way in China as the world’s biggest consumer market also becomes one of the first nations to rebound from the coronavirus pandemic that continues to ravage the ...

Bloomberg Whole Foods Market opened a location in Brooklyn that it’s calling a store — except shoppers won’t be welcome to walk the aisles. Instead, the Amazon.com Inc-owned organic grocer will use the facility, located in the New York borough’s Sunset Park neighbourhood, as a warehouse to fulfill online grocery orders, the company said in a blog post. Amazon bought ...

Bloomberg Pret a Manger Ltd cut 2,800 jobs in UK shops, about a third of its store employees there, in the latest sign that the pandemic is hurting the retail industry. Sales at British stores are down about 60% from a year earlier and are now roughly the same level as in August 2010, Pret said in a statement. A ...