News

Bloomberg PetroChina Co brushed off a $1.5 billion writedown from the disposal of some assets as it estimated full-year net income more than doubled last year thanks to higher crude prices. China’s biggest oil and gas producer said net income could have jumped as much as 132 percent in 2018, according to a filing to the Hong Kong stock exchange, ...

Bloomberg The Brazilian unit of EDP — Energias de Portugal SA plans on boosting investments once Latin America’s largest economy starts to recover, aiming to double in size by 2020. The firm, which began operating in Brazil during the privatisation wave of the 1990s, is “completely optimistic” with the outlook for the country, Chief Executive Officer Miguel Setas said in ...

Bloomberg MEG Energy Corp looks to be on its own again after Husky Energy Inc pulled its hostile bid for the Canadian oil-sands producer and no white knight emerged during the takeover battle. The data room that MEG had opened to entice other suitors during the Husky tussle is now closed, and its strategic review process has concluded, said Megan ...

Bloomberg Ever since negotiators from the US and China sat down in Beijing after a Christmas meltdown in global markets, President Donald Trump has sought to calm investors and claim his trade talks are making great strides. But that glosses over a more uncomfortable reality. According to people close to the discussions, the two sides have so far made little ...

Bloomberg The US has indicated it will pursue the extradition of a top Huawei Technologies Co. executive, Canada’s ambassador to Washington said, suggesting the case might not be resolved in trade talks with China. Ambassador David MacNaughton confirmed in an email that US officials have continued to signal an intent to follow through on the case against Huawei Chief Financial ...

Bloomberg The chairman of a Hong Kong-listed property developer and his wife cut their stake just as the stock plunged 89 percent. Shares were halted from trading after sinking again on Tuesday. Shum Tin Ching and his wife Wang Xinmei sold 93.6 million shares of Jiayuan International Group Ltd at an average of HK$2.7611 apiece — about a 79 percent ...

Bloomberg Tesla Inc hasn’t signed any pact with Tianjin Lishen Battery Joint-Stock Co, a spokeswoman for the electric-car maker said, denying a Reuters report that it had inked a preliminary agreement with the Chinese firm. “This is completely false,” according to a WeChat response to a query from Bloomberg News. “Tesla previously received quotes from Lishen, but did not proceed ...

Bloomberg Singapore’s finance minister said next month’s budget will focus on infrastructure spending, healthcare for an aging population, and helping businesses transition to a digital economy. “We want to be able to continue to invest in education, the healthcare of our people, and in taking care of the growing number of seniors,” Heng Swee Keat said in an interview with ...

Bloomberg Facebook Inc’s repeated privacy scandals have infuriated users, lawmakers and data-security advocates who are clamouring for a forceful government response. That job mainly falls to Joe Simons, who is under pressure to satisfy doubters or risk sidelining his agency as the nation’s chief privacy watchdog. The chairman of the Federal Trade Commission talked tough when he took over the ...

Bloomberg Lawmakers in Europe are set to test how important Google thinks its news-aggregation service really is. The European Union is working towards finalising a controversial new copyright law. The rules give publishers rights to demand money from the Alphabet Inc unit, Facebook Inc and other web platforms, when small fragments of their articles show up in news search results, ...