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Bloomberg Space Exploration Technologies Corp’s second-highest ranking executive said the rocket maker has big advantages over other companies racing to build constellations of internet-providing satellites, including Jeff Bezos’s Amazon.com Inc. SpaceX will in the coming weeks launch its next batch of 60 satellites for its Starlink broadband service, Gwynne Shotwell, the closely held company’s president and chief operating officer said. ...

Bloomberg China failed to reach an agreement with other countries on furthering the work of a three-year-old forum designed to resolve the global steel industry’s overcapacity. While a majority of members wanted to extend the forum beyond next month, China said that the organization has achieved its goal and should expire, Japan’s Industry Minister Hiroshi Kajiyama, who chairs the meeting ...

Bloomberg India’s sputtering economy is turning the energy-hungry nation into an unlikely source of diesel exports. The industrial fuel is the lifeblood of Indian manufacturing, transport and agriculture, making it the country’s most-consumed petroleum product. But five straight quarters of slowing growth is taking an increasing toll on demand, resulting in diesel consumption slumping to the lowest since the start ...

Bloomberg Jaguar Land Rover’s Indian owner reported a narrower loss than expected in the second quarter after the British luxury unit turned profitable working through a cost cutting program. Tata Motors Ltd lost 2.17 billion rupees ($31 million) in the three months ended September 30, compared with a loss of 10.5 billion rupees a year earlier, the company said. Analysts ...

Bloomberg Hong Kong may report negative growth this year as the economy reels from more than four months of social unrest, Financial Secretary Paul Chan wrote in a blog post. It is “impossible to rule out the possibility” that full-year gross domestic product will decline, Chan wrote in the post. “It seems that it is extremely difficult to achieve the ...

Bloomberg Uber Technologies Inc Chief Executive Officer Dara Khosrowshahi vowed to get his company to profitability while pursuing growth from emergent arenas such as India, addressing investors’ concerns about the ride-sharing company’s mounting losses and global regulatory challenges. Uber, which lost about $5.2 billion in the second quarter alone, is having a tough time convincing the market of its growth ...

Bloomberg Trade-reliant Thailand said President Donald Trump’s decision to suspend some US trade benefits will affect only a small proportion of its exports. The impact is expected to be limited and would cut annual export value by at most $32.8 million in 2020, the Commerce Ministry said in a statement. The US is Thailand’s second-largest export market, and shipments were ...

Bloomberg China said parts of the text for the first phase of a trade deal with the US are “basically completed” as the two sides reached a consensus in areas including standards used by agricultural regulators. The Saturday comments followed a call with Chinese Vice Premier Liu He, US Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin. The trade ...

DUBAI / WAM Mariam Almheiri, UAE Minister of State for Food Security, has undertaken an official two-day visit to the United Kingdom, where she held a number of meetings with government ministers, officials and representatives of prominent food research centres, universities and companies, to explore bilateral cooperation in the areas of food trade, investment and scientific research. Speaking about her ...

LONDON / WAM The National Media Council (NMC) Director-General, Mansour Al Mansouri, noted UAE’s journey and impact of tech revolution during nation’s growth, at One Young World Summit in London. In a session titled, ‘The New Age of Conversation’, Al Mansouri said, “In UAE, tech revolution has developed in parallel with growth of our own nation,” highlighting future of communications ...