PROVIDENCE, R.I. /Â AP Every submarine in the US fleet was designed with the height, reach and strength of men in mind, from the way valves are placed to how display screens are angled. That’s going to change. With women now serving aboard submarines, defense contractor Electric Boat is designing what will be the first Navy subs built specifically to ...
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India topples Japan as world’s second largest LPG importer
Bloomberg India toppled Japan as the world’s second-largest importer of liquefied petroleum gas as Prime Minister Narendra Modi’s pledge to provide cooking gas cylinders to the poor and wean them off polluting fuels drove up consumption. Imports of LPG, mostly used as cooking fuel, soared 23 percent during the financial year that ended March 31 to 11 million tons, ...
Read More »Oil halts five-day slide as OPEC backs extended cuts
Bloomberg Oil rose for the first time in six days as an OPEC-led committee was said to back prolonging supply cuts and as other markets rallied after the first round of French presidential elections. Futures climbed as much as 0.9 percent in New York after slumping 6.7 percent last week, the first drop in four weeks. A six-month extension ...
Read More »Australia’s LNG exports face review
Bloomberg Australia’s competition regulator said the possible sale of natural gas intended for the country’s domestic market to overseas customers instead must be reviewed amid high wholesale prices at home. Ahead of a meeting Wednesday between Prime Minister Malcolm Turnbull and energy producers over Australia’s potential gas shortages, the regulator said the ability of the Santos Ltd.-led Gladstone LNG ...
Read More »India gears up to roll out GST
Bloomberg The challenge is daunting: Convert an economy of more than 1 billion consumers, 29 states, 22 official languages, 9 million businesses all operating under a spider’s web of taxes, arcane regulations and competing political ambitions into a unified common market. But that’s the goal as India gets ready to roll out a goods-and-services tax after a 10-year battle ...
Read More »China cools its growth in wealth products
Bloomberg China’s boom in wealth-management products worth trillions of dollars, under scrutiny from regulators because of potential threats to financial stability, is slowing for now. Outstanding products issued by banks stood at 29.1 trillion yuan ($4.2 trillion) as of March 31, up 18.6 percent from a year earlier, according to the China Banking Regulatory Commission. The growth rate slumped ...
Read More »Republican cracks emerge in Trump energy plan
Bloomberg For all Donald Trump’s efforts to revive coal, market forces and some of his own supporters are vying to write their own version of America’s energy future. Divisions persist among the president’s supporters — and even within his own cabinet — about whether to continue subsidies for wind and solar power, enact a carbon tax, remain party to ...
Read More »London house prices decline most in 8 years
Bloomberg London house prices posted their largest annual drop in almost eight years in April as buyers shunned the capital’s central areas. The average asking price in the city fell 1.5 percent to 636,777 pounds ($813,000) this month from a year earlier, the largest annual decline since May 2009, property website Rightmove Plc said on Monday. On the month, ...
Read More »German business confidence climbs to highest since July ’11
Bloomberg German business sentiment rose to the strongest level in almost six years in a sign that the momentum in Europe’s largest economy is set to continue. The Munich-based Ifo institute’s business climate index increased to 112.9 in April from a revised 112.4 in March. That compares with a median estimate of 112.4 in a Bloomberg survey of economists. ...
Read More »Sprint looks beyond T-Mobile for deal options
Bloomberg Wall Street is betting Sprint Corp. and T-Mobile US Inc. will soon revive talks on a blockbuster merger, but a recent surge in demand for wireless assets has Sprint exploring other ways to unleash value. Sprint’s parent SoftBank Group Corp. believes the company’s vast trove of wireless spectrum, which can be used for faster 5G services, has been ...
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