Bloomberg In his first blog post since succeeding Rex Tillerson, the new head of Exxon Mobil Corp. focused on climate change, calling for a carbon tax to discourage use of polluting fuels. Chairman and Chief Executive Officer Darren Woods said a revenue-neutral carbon tax “would promote greater energy efficiency and the use of today’s lower-carbon options, avoid further burdening ...

  Bloomberg Heads of two of India’s largest drug makers said integration of electronic systems to prevent quality lapses in factories is going slower than expected, as the industry looks to adapt to increased scrutiny from regulators in the developed world that have resulted in sanctions and slowed sales. “This is a much more digital world than where pharma companies ...

  Bloomberg Hong Kong’s existing home prices have climbed to a record, fueled by a surge in demand from local buyers and investors despite taxes and mortgage curbs designed to rein in prices. The Centaline Property Centa-City Leading Index, which tracks sales in the secondary market, rose to 147.74 for the week ended February 19, surpassing the previous high of ...

  Bloomberg Evidence is mounting that Tokyo’s housing boom is nearing an end. In the Kachidoki area facing Tokyo Bay, home to the city’s hottest market given its proximity to venues for the 2020 Olympic Games, real-estate broker Hayato Jo has a wall full of notices of apartments for sale, with a 20 percent increase in the number of people ...

  Bloomberg Iron ore’s having a reality check on rising doubt that the exuberance that lifted prices to the highest since 2014 is entirely rational given the outlook for additional supply, the record stockpiles in China and statements of caution from some of the world’s biggest miners. Futures in China fell on Friday, with Australia’s central bank saying it expected ...

  Bloomberg Across America’s orchards and crop fields, a shrinking supply of migrants has already driven pay up faster than in the broader workforce. President Donald Trump’s immigration policy may turbocharge that trend. Wages for US fieldworkers rose 36 percent over the past decade through the conclusion of last year’s harvest in October, compared with 27 percent among non-farm employees, ...

  Bloomberg After striking deals in Russian oil and Congolese copper mining, Glencore Plc has set its sights on the US grain-trading industry. The company sold half of its agriculture division to two Canadian pension funds for $3.1 billion last year to fund an aggressive debt-reduction plan. Now, with cash levels rebounding and support from new partners for acquisitions, the ...

  Bloomberg The number of wealthy people granted investor visas to live in the UK fell by more than 80 percent last year from the peak in 2014, a sign that luxury home sales in the capital may slump further. While so-called Tier 1 investor visas rose 12 percent in 2016, the total granted was just 215, according to government ...

  Bloomberg Canadian satellite technology firm MacDonald Dettwiler & Associates Ltd. agreed to acquire DigitalGlobe Inc. in a cash and stock deal worth C$3.1 billion ($2.4 billion), doubling the company’s size and giving itself new access to lucrative US government customers. DigitalGlobe shareholders will receive $17.50 in cash and 0.3132 MDA shares representing a premium of about 18 percent of ...

  Bloomberg The UK government should stop intervening in power markets and better manage its carbon budgets in order to curb the cost of tackling climate change and boost energy security. That’s the conclusion of a report by a panel of lawmakers in the House of Lords, which says government policies to encourage investment in low carbon energy have all ...