News

Bloomberg China bought huge amounts of Middle East and West African crude as oil prices were collapsing in November. Oil tankers loaded 6.5 million barrels a day from ports in the two regions for Chinese buyers in November, a 26 percent increase compared with the average over prior 10 months, ship tracking compiled by Bloomberg shows. With deliveries taking between ...

Bloomberg Jagged Peak Energy Inc is considering expanding its footprint in the oil-rich Permian Basin of West Texas and New Mexico, according to people with knowledge of the matter. The oil and gas company, with a market value of $2.2 billion, is working with an adviser to pursue bolt-on acquisitions, said the people, who asked not to be identified because ...

Bloomberg Samsung Electronics Co. is making a new push in the market for wireless network infrastructure. This time, the South Korean electronics giant’s timing may be just right. Mounting concerns in Europe and elsewhere about letting China’s ZTE Corp. and Huawei Technologies Co. provide vital components for fifth-generation cellular networks have coincided with Samsung’s ambition to capture 20 percent of ...

Bloomberg Shares of SoftBank Group Corp.’s domestic telecom business had one of the worst first-day declines ever in Japan after Masayoshi Son raised $23.6 billion in an initial public offering. SoftBank Corp., the new entity trading under ticker 9434 on the Tokyo Stock Exchange, declined 14.5 percent to 1,282 yen in Tokyo. That’s the biggest decline for a major IPO ...

Bloomberg Japan’s export growth slowed again in November, with shipments eking out a tiny gain, as weakening demand in China and trade-war risks cloud the outlook. The value of exports rose 0.1 percent from a year earlier, broadly in line with a median forecast for a 1.2 percent gain, according to the finance ministry. With the exception of a decline ...

Bloomberg China is blowing through regulatory milestones as it completes an astonishing transformation from a market where basic Western drugs were once scarce to one where life-saving treatments are available ahead of the US — all in less than a year. The latest announcement that China has approved an anemia treatment from AstraZeneca Plc and FibroGen Inc. ahead of the ...

Bloomberg The Big Four accounting firms may have to split their operations into separate UK business units as part of a sweeping overhaul of the industry proposed by regulators that stopped short of the measures sought by some critics. The Competition and Markets Authority said audit work should be split from the much larger consulting business at an operational level, ...

Bloomberg The warning signs of 2019 are lighting up for the UK economy as Brexit comes to a head. Retailers are complaining about an abysmal holiday season, house prices are weakening, businesses are holding back investment and the swooning pound is fuelling inflation. With just a few months until the March 29 deadline to exit the world’s biggest trading bloc, ...

Bloomberg General Electric Co (GE) has filed confidentially for an initial public offering of its health-care unit, according to people familiar with the matter, moving ahead with plans to spin off its second most profitable business line. The industrial conglomerate is working with Goldman Sachs Group Inc, Bank of America Corp, Citigroup Inc, JPMorgan Chase & Co and Morgan Stanley ...

Bloomberg Sentiment among US homebuilders fell in December to the lowest level since 2015, missing all forecasts and signaling that the industry’s struggles are intensifying amid elevated prices and higher borrowing costs. The National Association of Home Builders/Wells Fargo Housing Market Index dropped to 56 from 60 in the prior month amid broad-based declines across sales, expectations and buyer traffic, ...