Bloomberg US stocks fell, with FANG shares tumbling as executives of the tech heavyweights face scrutiny on Capitol Hill. The selloff in emerging market currencies deepened, adding to the risk-off tone on global financial markets. Twitter, Facebook and Alphabet sent the Nasdaq Composite Index down by more than 1 percent during Senate Intelligence Committee hearing on social media and foreign ...

Bloomberg A fresh sign that the financial industry’s love affair with cryptocurrencies is cooling pummeled the largest tokens. Ether sank as much as 15 percent and Bitcoin fell almost 7 percent to a three-week low amid a report that Goldman Sachs Group Inc. is pulling back on near-term plans to set up a crypto trading desk. Litecoin and Ripple followed ...

Bloomberg Africa is entering the oil-hunt spotlight as drillers, flush with cash after crude’s recovery, are turning their attention back to the continent’s potentially vast resources. The world’s biggest companies from Exxon Mobil Corp. to Royal Dutch Shell Plc and BP Plc are setting up camp across Africa. Armed with stronger balance sheets and higher crude prices the industry is ...

Bloomberg Indonesia plans to delay $25 billion worth of power projects as it seeks to rein in a widening current-account deficit and a selloff in the nation’s currency. The government will delay almost half of the planned 35 gigawatts of electricity projects as it wants to ease pressure on imports, Energy and Mineral Resources Minister Ignasius Jonan told reporters in ...

Bloomberg The world’s biggest offshore oil driller may reactivate two to three mothballed rigs a year as the industry embarks on a full-fledged recovery for deepwater exploration. In announcing a $2.7 billion deal for a rival operator, Transocean Ltd. cited a forecast by energy consultant Wood Mackenzie Ltd. that day-rates in waters more than two miles deep will more than ...

Bloomberg The unraveling of one of India’s most storied business empires has caused a rupture in its founding family, with one of the Singh brothers — synonymous with each other for decades — saying he has sued the other for alleged “oppression and mismanagement” of their companies. In a statement, Shivinder Singh said he filed a case with India’s National ...

Bloomberg Toyota Motor Corp. is recalling more than a million of its Prius and C-HR compact crossover vehicles globally due to the risk of fire. Of the 1.03 million affected vehicles, 554,000 will be called back in Japan and 192,000 in the US, according to Jean-Yves Jault, a company spokesman. There has been one reported case of a vehicle emitting ...

Bloomberg The bidding frenzy for Singapore land has slowed to a trickle, going by the results of the first auctions since property curbs were tightened. Just three bids were submitted for the Jalan Jurong Kechil site in the island’s northwest, compared to 24 received in April last year for the nearby Toh Tuck Road plot. Only five offers were tendered ...

Bloomberg Zijin Mining Group Co., a Chinese gold and base metals producer, agreed to buy Nevsun Resources Ltd. for $1.41 billion in cash, just days after winning a tender for a Serbian copper miner. The Fujian-based company will acquire all of the issued and outstanding shares of Nevsun for C$6 per share in cash, they said. The cash consideration represents ...

Bloomberg A bullet train linking Singapore and Kuala Lumpur won’t be a reality for at least a decade as Malaysia’s Prime Minister Mahathir Mohamad seeks to pare his nation’s debt and review projects signed off by his predecessor Najib Razak. The neighbours agreed to delay kicking off work on the 350-kilometre (218 miles), multibillion dollar link until the end of ...