Bloomberg US natural gas futures are having their best May rally since 2010 as hot weather boosts demand for the power plant fuel, slowing efforts to refill depleted inventories. Prices rose to a four-month high after the Energy Information Administration reported inventories rose by 96 billion cubic feet last week to 1.725 trillion. The median estimate by analysts predicted a ...

Bloomberg Italian power giant Enel SpA won a highly contested multibillion-dollar battle for AES Corp.’s Brazilian utility in a move that will more than double its presence in the country’s electricity distribution market. Enel’s 45.22 reais-a-share ($12.14) offer for Eletropaulo SA topped a final one by leading rival Iberdrola SA of Spain in sealed bids opened on the Sao Paulo ...

Bloomberg General Electric Co. is moving closer to a sale of its industrial gas-engine business for more than $3.5 billion after narrowing the list of bidders, according to people familiar with the matter. Manufacturers Cummins Inc. and Kohler Co., as well as a group comprised of investment firms KKR & Co. and B&C Industrieholding GmbH, advanced to the next round ...

Bloomberg US Secretary of Defense James Mattis said the world have to deal with China’s militarisation of the South China Sea for now, but that Beijing would face “larger consequences” in the long term that could persuade it to change track. Beijing’s deployments of missile batteries and bombers to outposts in disputed areas appear aimed at intimidating neighbours, Mattis told ...

Bloomberg President Donald Trump conceded that North Korea won’t agree to immediately give up its nuclear weapons as he confirmed his June 12 summit with Kim Jong Un will go ahead. In a scene that would have been difficult to imagine even a few months ago, Trump walked former North Korean spy chief Kim Yong Chol to his black SUV ...

Bloomberg Spain’s new leader began harnessing the unlikely forces that brought him to power while a populist government took over in Italy, capping a week of political drama that sent financial markets into turmoil as the future of the euro region again rose to the fore. In Madrid, Socialist leader Pedro Sanchez was sworn in by King Felipe VI as ...

Bloomberg Venezuela President Nicolas Maduro granted conditional freedom to at least 39 political prisoners, including former opposition Mayor Daniel Ceballos, imprisoned since 2014 for allegedly encouraging violent protests in his home state. The political prisoners slated for release include some arrested during anti-government rallies over the past three years amid pitched confrontations with state security forces and Maduro’s militant supporters. ...

Bloomberg Landlocked Ethiopia is planning to build a navy, Prime Minister Abiy Ahmed said during a briefing of the heads of the country’s National Defense Force. “Following the efforts made to build capacity of our national defense, we built one of the stronger ground and air forces in Africa,” the ruling party-funded Fana Broadcasting Corp. reported. “We should build our ...

Bloomberg Nintendo Co. is bringing together the magnetic appeal of Pokemon, smartphones and the Switch console into an interlinked gaming experience. Pokemon: Let’s Go Pikachu and Pokemon: Let’s Go Eevee were unveiled by the Kyoto-based video-game maker. They’re designed to capitalise on the blockbuster success of the Pokemon Go smartphone game and a solid year of sales for the Switch ...

Bloomberg Google decided not to renew its contract with a Pentagon drone programme once it expires, after extensive protests from employees of the internet giant. Diane Greene, head of the cloud business at Alphabet Inc.’s Google, told staff that the company will let the deal lapse when it runs out in March 2019, according to people familiar with the meeting. ...