News

Bloomberg Ford Motor Co. is changing gears again in Mexico, shifting planned production of a small electric-powered sport utility vehicle to a plant south of the border instead of a Michigan factory. Sending the electric vehicle to Mexico, where labour costs are lower, will help the business case for the costly model. It also risks raising the ire of President …

SABETTA / Reuters President Vladimir Putin said that Russia was ready to sell gas to Saudi Arabia after he launched the first loading of liquefied natural gas (LNG) at the Novatek-led Yamal LNG project in the Arctic. Russia is the world’s biggest gas producer, but most of its exports are via pipeline rather than LNG, a super-cooled fuel that can …

Bloomberg Crude edged higher as near-record Chinese orders for foreign crude signaled stronger demand in the world’s second-largest economy. Futures climbed 1.2 percent in New York. A rebound in China’s crude imports last month from a one-year low defused some of the pessimism among investors fanned by a US government report earlier this week showing bearish increases in fuel inventories …

Bloomberg After spending years building up its gas-power business, General Electric Co. is trying to figure out how to keep pace in a world that’s no longer all that interested in fossil fuels. The plan to cut 12,000 jobs, or almost one-fifth of the power division’s global workforce, underscores GE’s bad bet on an old-school industry as natural gas loses …

Bloomberg Cheniere Energy Inc., looking to help global customers meet climate goals under the Paris Accord, is turning to a former Obama administration energy expert as it expands its liquified natural gas exports. Christopher Smith, who helped develop the US Energy Department’s so-called life cycle emissions analysis for natural gas and coal, has joined Cheniere’s Washington office. The analysis was …

Bloomberg A 1,000-foot ship will likely pull up to a buoy floating in the Gulf of Mexico next year, hook up its hoses and usher the US into a new era as a major oil exporter. The Louisiana Offshore Oil Port, which already handles imports from similar large ships known as Very Large Crude Carriers, or VLCCs, will likely be …

Bloomberg Alibaba Group Holding Ltd., China’s e-commerce giant, plans to invest about $200 million in India’s largest online supermarket, Bigbasket, leading a $280 million funding round in the startup, according to people familiar with the negotiations. Alibaba is taking a stake of about 25 percent in Bigbasket after months of negotiations, said the people, asking not to be identified because …

Bloomberg Bain Capital LP said it is prepared to spend about $900 million or more to acquire digital advertising companies in Asia as it revamps Japan’s No. 3 agency to better compete with rivals like Dentsu Inc. The Boston-based private equity firm acquired 87 percent of shares in Asatsu-DK Inc., in a tender offer, the companies said in statements. Bain …

Bloomberg Facebook Inc. co-founder Eduardo Saverin is participating in a $40 million investment in Mswipe Technologies, his first foray into the India startup market. Saverin’s B Capital Group and DSG Consumer Partners are leading the funding round, which also includes Ratan Tata’s UC-RNT Fund, Matrix Partners India and Falcon Edge Capital. Saverin will join the company’s board and work with …

Bloomberg Vijay Mallya is becoming something of a fixture in London courts. As the tycoon fights his extradition back to India on fraud charges, another set of lawyers is trying to overturn a $1.5 billion worldwide freezing order against him across town. In the meantime, Mallya has to get by on 5,000 pounds a week, according to court documents. A …