News

Bloomberg Venezuela, once Latin America’s largest oil exporter, ended 2018 with a whimper as overseas sales dropped to the lowest in nearly three decades. Home to the world’s biggest crude reserves, the country exported 1.245 million barrels a day last year, the lowest since 1990, as production tumbles amid an economic and humanitarian crisis. Financial sanctions imposed by the US ...

Bloomberg Zimbabwe has reached flexible payment arrangements with some gasoline importers that will ensure it stabilises supplies amid a forei- gn-currency shortage that threatens economic growth. The government has struck a deal with a unit of Trafigura Beheer BV and Independent Petroleum Group (IPG) of Kuwait Ltd to extend payment periods for gasoline supplies to as many as six months ...

Bloomberg The new head of Brazil’s state-controlled oil company criticised its history of government interference and vowed to pursue policies that will boost profit, echoing a wider pledge by President Jair Bolsonaro to reduce the state’s role in Latin America’s largest economy. Roberto Castello Branco, who was sworn in as chief executive officer of Petrobras, said he was “revolted” by ...

Bloomberg The US hasn’t done enough to counter the use of technology transfers and supply chain infiltration from countries like China, leading to a grave national security risk, according to two US senators. To guard against state-sponsored technology theft and risks to supply chains that provide technology to US consumers, Senators Mark Warner and Marco Rubio have proposed legislation requiring ...

Bloomberg China’s cyberspace police have ordered Baidu Inc and Sohu.com Ltd to suspend a plethora of news services for a week, kicking off an online clean-up campaign with two of the country’s biggest internet corporations. The Cyberspace Administration of China announced it was starting a six-month effort to eradicate “vulgar” information” from a plethora of online media, including messaging services ...

Bloomberg Carlos Ghosn will finally see the inside of a Japanese court room next week, almost two months after his arrest on financial crimes. The embattled car titan will attend a hearing of the Tokyo district court on January 8, according to his chief lawyer, Motonari Otsuru. The session was called after Ghosn’s legal team requested an explanation on why ...

Bloomberg The government of Indian Prime Minister Narendra Modi said it’s on track to meet its official March 31 deadline to provide electricity connections to every home, saying a December 31 goal promoted publicly by the power ministry was only an “internal target.” The ministry said in a statement that it aimed to achieve full electrification by year-end “so that ...

Bloomberg One of the world’s most expensive fish just got pricier. A 278-kilogram bluefin tuna sold for 333.6 million yen ($3.1 million) at a Tokyo fish market. The record price — which equates to about $5,000 a pound — is more than double the previous high set in 2013, according to Masayuki Fukuda, an official in charge of trading operations ...

Bloomberg Bristol-Myers Squibb agreed to acquire Celgene Corp in a record-sized $74 billion deal that will unite two drugmakers battling for advantage in a crowded market for innovative cancer treatments. Both companies have faced investor wariness about their prospects in recent months. Bristol makes an immunotherapy drug called Opdivo that accounts for roughly a quarter of its sales but that ...

Bloomberg Apple Inc plunged to its lowest price in a year-and-a-half after the company cut its revenue outlook for the first time in almost two decades, citing weaker demand in China. Chief Executive Officer Tim Cook said sales will be about $84 billion in the quarter ended on December 29, down from earlier estimates of $89 billion to $93 billion. ...