News

Bloomberg Saudi Aramco, the world’s biggest oil exporter, plans to trade as much as 6 million barrels a day, a jump in volume that would put it in the top tier of companies that buy and sell crude and refined products. The trading arm of the state-run giant known officially as Saudi Arabian Oil Co. currently handles between 3.3 million ...

Bloomberg Goldman Sachs Group Inc. sees oil’s rally the same way as Saudi Arabia: it won’t check the world’s soaring thirst for crude. Oil’s surge to the highest level in more than three years will in fact spur fuel demand as swelling reserves of Middle East petrodollars are reinvested overseas and stimulate the global economy, Goldman’s head of commodities research ...

Bloomberg Prominent US business lobbies are begging the Trump administration not to impose tariffs on Chinese imports, but some small manufacturers are pushing the other way: Trying to get more products on the proposed list. Makers of steel wheels, safes and other products want the US to impose tariffs on goods by their Chinese competitors, which aren’t among the products ...

Bloomberg It might be the most dynamic region in the world but the Asia Pacific isn’t meeting its economic potential, and some of that has to do with gender equality, according to the McKinsey Global Institute. Targeted policies to achieve more women’s equality in Asia-Pacific economies could add $4.5 trillion to the region’s combined annual gross domestic product by 2025, ...

Bloomberg Takeda Pharmaceutical Co. is nearing a preliminary agreement to acquire Shire Plc after the Japanese drugmaker sweetened its roughly $60 billion bid for the biotechnology company, according to people with knowledge of the matter. The two companies have been working on a tentative agreement on price and might announce a preliminary accord as early as Tuesday, the people said, ...

Bloomberg Investors hunting for clues to the iPhone X’s reception can take a deeper look at its main manufacturing partners. And the latest doesn’t look good. Apple Inc.’s five largest device assemblers reported a sharp slowdown after peaking at the end of last year, suggesting demand for the high-end device may have faded just a quarter after its release. While ...

Bloomberg Alphabet Inc. is pushing efforts to roll back the most comprehensive biometric privacy law in the US, even as the company and its peers face heightened scrutiny after the unauthorised sharing of data at Facebook Inc. While Mark Zuckerberg and Sheryl Sandberg were publicly apologising this month for failing to protect users’ information, Google’s lobbyists were drafting measures to ...

Bloomberg AT&T Inc. attacked the US government expert who disputes the company’s claim that its takeover of Time Warner Inc. would lead to $2.5 billion in annual cost savings, forcing him to admit on the witness stand that such a deal would probably result in efficiencies. Rob Walters, a lawyer for AT&T, tried to undermine the Justice Department’s expert, Ronald ...

Bloomberg SAP SE increased its sales outlook for the year to reflect a major acquisition and an accelerating cloud business, as Europe’s biggest software company benefited from increased global IT spending. New cloud bookings, a keenly watched metric because it indicates future sales growth, grew 25 percent at constant currencies in the first quarter, the Walldorf, Germany-based company said on ...

Bloomberg Britain was in surplus on its day-to-day budget for the first full fiscal year since the early 2000s, a milestone that is almost certain to revive calls for an end to austerity. Revenue exceeded spending by 112 million pounds ($156 million) in the 12 months through March, meaning Britain is now borrowing only to finance capital investment, figures from ...