News

LONDON / Reuters Oil exports from southern Iraq have fallen by 70,000 barrels per day (bpd) this month, according to shipping data and an industry source, suggesting OPEC’s second-largest producer is heading for a third month of lower shipments. Southern Iraqi exports in the first 21 days of March averaged about 3.36 million bpd, compared to 3.43 million bpd in ...

Bloomberg Tata Steel Ltd. offered 350 billion rupees ($5.3 billion) to lenders to acquire bankrupt Bhushan Steel Ltd., said a person with knowledge of the matter. Mumbai-based Tata Steel offered an all-cash deal to the creditors, the person said, asking not to be identified because the details aren’t public. The lenders declared the steelmaker’s bid successful, subject to the company ...

Bloomberg Nissan Motor Co. is slowing production at several assembly plants to keep the supply of vehicles on US dealers’ lots in check after being caught off guard by weaker consumer demand. Japan’s second-largest automaker is aiming to have a 50- to 60-day supply of cars and trucks in August, when dealers start transitioning to sell 2019 model-year vehicles, said ...

Bloomberg When it comes to tech startup hubs in Southeast Asia, entrepreneurs sometimes look past Malaysia to the lure of Singapore’s vibrant financial centre or Indonesia’s attractiveness as the region’s largest economy. They shouldn’t, said a former Microsoft Corp. executive who’s now in charge of driving the country’s digital economy. Policy makers are serious about developing the sector that created ...

Bloomberg Leaders of Apple Inc., Google and other US technology giants were expected to head to China to pursue a familiar goal: To do more business in the world’s most populous nation. The effort has had mixed results, at best, in the past. With a trade war brewing between the world’s two largest economies, the goal has gotten loftier still. ...

Bloomberg India considers ensuring timely delivery of food for millions of poor more important than heeding to concerns over privacy, the country’s top law officer said while defending the biometric identity programme. India’s Attorney General K.K. Venugopal told the Supreme Court the unique digital identity program, called Aadhaar, “an enabler” to ensure food and other subsidies reach the poor and ...

Bloomberg European Union leaders demanded a permanent EU exclusion from US President Donald Trump’s metal-import tariffs and kept alive a threat to retaliate, highlighting persistent risks of a trans-Atlantic trade war. Citing national security, Trump imposed duties of 25 percent on steel and 10 percent on aluminum while granting a five-week waiver to the EU, Canada, Mexico, Brazil, Argentina, Australia ...

Bloomberg The UK’s privacy watchdog searched the London offices of Cambridge Analytica in the wake of allegations that information on millions of Facebook Inc.’s users was scooped up without their consent, widening a probe that cut the internet giant’s share price by more than 10 percent this week. The Information Commissioner’s Office said the search that began on March 23 ...

Bloomberg Embattled Facebook Inc. Chief Executive Officer Mark Zuckerberg has received another call from Congress to testify on the unfolding scandal over reports the company allowed Cambridge Analytica to harvest 50 million users’ data. Senate Commerce Chairman John Thune, the No. 3 Republican in the chamber, and ranking Democrat Bill Nelson issued a joint statement calling on Zuckerberg to testify ...

Bloomberg Hackers increasingly threaten sites in the US ranging from nuclear power plants to water processing systems, according to a member of the Federal Energy Regulatory Commission, adding his voice to warnings from several agencies and officials in recent weeks. “Cyberattacks have the potential to cause significant, widespread impacts on energy infrastructure,” Commissioner Neil Chatterjee said. “Sophisticated hacking tools are ...