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Bloomberg President-elect Jair Bolsonaro is pursuing the sale of Brazil’s deep-sea treasure-trove of oil, but just weeks after his election he’s facing the same political obstacles as his two predecessors. While Bolsonaro’s transition team argues the sale could net some $30 billion to help plug fiscal deficits, a squabble over how to divvy up the spoils between various states and ...

Bloomberg An influential panel of lawmakers in UK parliament is encouraging the government to develop hydrogen as a way to provide a green form of heat for industry and homes. The Committee on Climate Change, which advises the government on energy and environmental policies, said ministers should write a strategy for removing carbon emissions from heat in the next three ...

Bloomberg Oil rose from its lowest settlement in more than a year in New York. Futures added 1.7 percent, after slumping 7.7 percent. Saudi Arabia is pumping as much as 11.2 million barrels of crude a day, the most since the kingdom extracted its first oil eight decades ago, according to a person familiar with the matter. Theb West Texas ...

Bloomberg Justin Trudeau’s federal budget update stirred some anger in Canada’s oil-rich West. Alberta’s Finance Minister Joe Ceci, while welcoming corporate tax breaks announced, said he was disappointed that the urgent need to ease a dramatic crude-shipping glut and price crash wasn’t addressed. The tax changes that will allow businesses to write off capital investments more quickly will help oil ...

Bloomberg The ongoing trade war between China and the US is pushing the Asian powerhouse to sweeten ties with neighbouring India. China’s refiners are considering the purchase of unprecedented amounts of Indian raw sugar, with a delegation visiting the South Asian nation next month to meet mill officials and inspect logistics infrastructure, according to an Indian official. Refiners may buy ...

Bloomberg Billionaire Anil Ambani’s Reliance Communications Ltd. has told India’s top court that its asset sale to Reliance Jio Infocomm Ltd. may not go through if approvals aren’t in place by mid-December, putting at risk planned debt repayments by the distressed company. India’s government has moved the Supreme Court against allowing the sale unless it is given $417 million in ...

Bloomberg A massive dust storm rolled through China’s northwestern province of Gansu on Sunday, enveloping office blocks and apartment buildings. The People’s Daily posted footage of the dust storm advancing through Gansu’s Zhangye city to its social media accounts on Sunday. The mass reached 100 metres and blotted out the blue sky as it moved through the city, according to ...

Bloomberg Beijing’s air quality was the worst in 18 months on Monday, a possible result of more flexible emissions curbs for the winter. The economic slowdown may have been behind the decision to move away from the hard targets of last year, with the government trying to keep factories churning, according to some economists. The concentration of PM 2.5 particles ...

Bloomberg Carlos Ghosn was dismissed as Mitsubishi Motors Corp. chairman in a boost to its biggest shareholder Nissan Motor Co., which has been positioning to secure more power in the alliance they share with Renault SA in the wake of the car titan’s shock arrest. The board of the smallest and newest member of the world’s biggest auto union — ...

Bloomberg Hong Kong’s hottest initial public offerings have produced the worst returns for investors this year, while the least popular deals have fared far better. Ping An Healthcare and Technology Co., in which retail investors placed orders for 654 times the shares initially available, has tumbled 37 percent since it started trading in May. Biotechnology firm Ascletis Pharma Inc., whose ...