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Venezuela fuel shortages worsen as tanker staff flee

Bloomberg Venezuela’s fuel shortages are worsening as mass resignations at the state oil company’s tanker fleet have delayed gasoline shipments. Petroleos de Venezuela SA’s refineries are running at less than a quarter of their capacity, forcing the country to rely on imported gasoline. Once the cargoes are unloaded at import docks, smaller ships distribute fuel to terminals along the coast, ...

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‘Amid Brexit, UK could breach emergency fuel commitments’

Bloomberg The UK might fail to honour commitments relating to emergency fuel stockpiles as its exit from the European Union approaches, a trade group representing the nation’s oil refiners said. Europe manages its fuel inventories as a bloc, so part of the UK’s emergency stocks can be held in other member states. In some cases, the fuels are held by ...

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Equatorial Guinea bans oil-services firm Subsea 7

Bloomberg Equatorial Guinea has banned oil-services company Subsea 7 SA from operating in the central African nation over local content rules, according to a person familiar with the situation. TechnipFMC Plc and Schlumberger Ltd have resolved all issues to do with local content, said the person, requesting anonymity because the information is not public. The Opec member considered the exclusion ...

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Ghosn exit sets stage for face-off over car alliance

Bloomberg The sudden downfall of Carlos Ghosn looks set to unleash a power struggle between Renault SA and Nissan Motor Co. over the alliance he oversaw for two decades. While both sides say they’re committed to the partnership, they’re already prepping for a battle over control of the world’s biggest car alliance, people familiar with their discussions said. And with ...

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Tyson among bidders for BRF Thai

Bloomberg Tyson Foods Inc. is among the five firms still in the running for Asian and European chicken plants owned by BRF SA, people with direct knowledge said, asking not to be named because talks are private. Both Springdale, Arkansas-based Tyson and Sao Paulo-based BRF declined to comment. Binding offers for Thai poultry processor Golden Foods Siam and assets in ...

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Jho Low’s presence at 1MDB meeting erased from report

Bloomberg Malaysian financier Low Taek Jho’s appearance at a 1MDB board meeting was scrubbed from a government’s audit report on the troubled state firm, the auditor general said. The removal was done at the request of the then-principal secretary to former Prime Minister Najib Razak, a week before the document was presented to a select parliamentary committee in March 2016, ...

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S’pore malls try big gambit before online shopping catches on

Bloomberg Online shopping in Singapore is lackluster even after Amazon Inc. debuted its Prime service in mid-2017. The island’s malls are trying hard to keep it that way. With some of the nation’s biggest mall operators reporting falling rents and rising vacancies, landlords, just like those elsewhere in Asia and the US, are being forced to reposition. They’re making room ...

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UK’s other Brexit fight may bar it from $1.7trn WTO deal

Bloomberg UK businesses stand to lose access to a $1.7 trillion public procurement market if signatories to a World Trade Organization (WTO) accord this week block Britain’s application for membership, which will lapse after it leaves the European Union in March. On November 27, the UK will seek admission to the 46-nation Government Procurement Agreement (GPA) in Geneva. Failure to ...

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US launches probe into brake flaw in 2.7mn GM autos

Bloomberg The US highway safety investigators are probing an alleged defect in 2.7 million pickups and sport utility vehicles built by General Motors Co that are getting into collisions because drivers are having trouble braking. The National Highway Traffic Safety Administration (NHTSA) opened an investigation of trucks and SUVs including GM’s best-selling Chevrolet Silverado after receiving 111 complaints from consumers. ...

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Fiera Capital’s realty arm plans global push

Bloomberg Fiera Capital Corp’s property unit wants to go global. Quebec’s biggest publicly traded asset manager is looking to make its first real-estate foray outside of Canada by the start of the next decade to diversify its holdings, according to Pierre Pelletier, a senior vice president at the company. All of the Fiera Properties’ assets under management, which are valued ...

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