News

Bloomberg The president of the United Auto Workers denied that contracts with Fiat Chrysler Automobiles NV were tainted by a scheme in which top labour negotiators were enriching themselves from a union training fund. In a letter to UAW members, President Dennis Williams said Fiat Chrysler’s former top labour negotiator “by his own admission is a crook and a liar.” ...

Bloomberg Google has a new sister: Parent company Alphabet Inc. announced the formation of a new subsidiary company, called Chronicle, focussed on cybersecurity. Chronicle was formed in 2016 inside of X, Alphabet’s experimental lab that has produced its driverless car effort, Waymo, and projects on drones, internet connectivity and the Google Glass headset. In the announcement, the new company stressed ...

Bloomberg Donald Trump has criticised the way UK Prime Minister Theresa May is negotiating Brexit, saying he would take a “tougher” line with the European Union in the talks. Only three days after putting on a show of unity with May at the World Economic Forum in Davos, Trump risked reopening the wounds in the so-called “special relationship” between Britain ...

Bloomberg Just over four years since Michael Dell took his namesake PC company private, the billionaire is considering taking Dell Technologies public again in a move to help it raise cash and reduce its substantial debt. An initial public offering would undo one of the biggest leveraged buyouts the tech industry has ever seen. The board is meeting later this ...

Bloomberg Saudi Aramco’s chief executive said the most important tax paid by the state-owned energy giant will fluctuate with the price of oil, a significant move ahead of the company’s initial public offering this year. Adjusting the 20 percent royalty on oil revenue Aramco currently pays would help the kingdom to raise extra money if prices climb. While not unusual ...

Bloomberg US natural gas soothsayers are at a stalemate. Bulls say more arctic air may vault futures above $4 for the first time since 2014. Bears see the February contract expiration and a warm spell dragging them lower. Welcome to the suddenly uncertain world of fuel trading. Eight of 17 traders and analysts surveyed by Bloomberg News predicted prices that ...

BERLIN / Reuters European gas networks can cope with further production cuts at the Dutch Groningen field as the government seeks to limit earthquake risks, a leading pipeline company and gas industry official said in an interview. The Dutch government had said that output at the major European field, which used to provide 53 billion cubic metres (bcm) per year ...

Bloomberg The fracking frenzy in Colorado is spurring a tense faceoff between shale drillers in the region and residents seeking a better handle on the dangers in their own backyards after a killer pipeline explosion last year. Gov. John Hickenlooper ordered a review of oil and natural gas operations after the April blast, which destroyed a home, killed two men ...

Bloomberg The disclosure that one of Japan’s biggest cryptocurrency exchanges lost about $400 million in NEM tokens is spooking investors in a country still wary of such venues four years after the collapse of Mt. Gox. After hours of speculation, Coincheck Inc. said the coins were sent “illicitly” outside the venue. Co-founder Yusuke Otsuka said the company didn’t know how ...

Bloomberg Permira has agreed to buy Australia’s I-Med Radiology Network from EQT Partners and other investors, the Swedish buyout firm said in a statement. Permira, the London-based private equity firm, will pay about $1.1 billion for I-Med, according to people with knowledge of the matter, who asked not to be identified because the details are private. The transaction, Permira’s first ...