Bloomberg Siemens AG is committed to its gas-turbine unit while recognising that it has to reduce capacity and cost amid a market slowdown, according to a memo with instructions on how to respond to media inquiries about the future of the business. The memo was sent by Lisa Davis, managing board member responsible for the power and gas division, according ...

Bloomberg President Donald Trump’s tariffs on $50 billion in Chinese imports include duties on components for wind turbines, nuclear reactors and batteries — but they are unlikely to cripple any of those industries. Less than 2 percent of wind turbines installed in the US since 2010 were imported from China, Stephen Munro, an analyst at Bloomberg New Energy Finance, said ...

Bloomberg Baytex Energy Corp. agreed to buy rival western Canadian oil producer Raging River Exploration Inc., in a deal valued at C$1.6 billion ($1.2 billion) that includes about 260,000 acres in the emerging East Duvernay Shale basin. Under the pact, holders of common shares of Raging River will receive 1.36 common shares of Baytex for each Raging River Share owned, ...

Bloomberg On a tropical island just off the coast of Nigeria, hundreds of engineers work around the clock to produce liquefied natural gas at a plant the size of Lower Manhattan. Operator Nigeria LNG Ltd says it will decide later this year whether to invest more than $10 billion to boost capacity by 40 percent. That would allow the Bonny ...

Bloomberg China’s efforts to cool solar power capacity growth will cut electricity generation costs and the industry’s reliance on government subsidies that helped drive record installations last year, the People’s Daily reported. Electricity rates paid to solar developers haven’t fallen in line with photovoltaic panel costs and clean energy developers are owed more than 120 billion yuan ($18.7 billion) in ...

Bloomberg Minda Industries Ltd., the Indian vehicle-component maker that’s seen its stock climb the most among peers in the past five years, is expected to benefit from tightening safety regulations in one of the world’s largest automobile markets. Shares of the components manufacturer, which supplies to companies including BMW and local car market leader Maruti Suzuki India Ltd., have climbed ...

Bloomberg Global diversified miner South32 Ltd. agreed to acquire Arizona Mining Inc. for $1.3 billion to add a flagship silver-lead-zinc project in the US and said it will remain on the M&A hunt as deal-making returns to the sector. Perth-based South32 — spun out of BHP Billiton Ltd. in 2015 — will pay $4.70 a share for the 83 percent ...

Bloomberg Singapore home sales jumped to the highest in nine months in May, underscoring signs the city-state’s property market is recovering. Developers sold 1,121 units last month, the Urban Redevelopment Authority said. That’s more than the revised 732 units in April and the highest since August. Still, sales are running at a slower pace than early last year. The city-state’s ...

Bloomberg Thyssenkrupp AG’s top shareholders are skeptical about the company’s plan to combine European steel operations with Tata Steel Ltd., and have discussed voting against the proposal at a board meeting as early as next week, according to people familiar with the matter. The shareholders, which include Cevian Capital and the Alfried Krupp von Bohlen und Halbach-Stiftung foundation, or Krupp ...

Bloomberg PM Narendra Modi’s administration is planning to offload a stake in state-run Coal India Ltd. to speed asset sales after a disastrous attempt to find a buyer for the cash-strapped national airline, people with knowledge of the matter said. The Department of Investment and Public Asset Management is finalising the amount of stake to be offered in the financial ...