News

Bloomberg Less than two weeks in, 2018 is shaping up to be the year of the fracker. The world’s two biggest oilfield service providers, Schlumberger Ltd. and Baker Hughes, are the best performers in the Standard & Poor’s 500 Energy Index this year. Even smaller rivals are cashing in on investor enthusiasm over a 50 percent rise in oil prices ...

Bloomberg Royal Dutch Shell Plc is taking small steps towards a future dominated by electric cars, renewable energy and carbon constraints, demonstrating its intent not to remain solely an oil and gas company. The energy giant agreed last month to purchase First Utility Ltd., the UK’s seventh-largest power provider. Its offshore-wind partnership with Eneco may expand further, with newspaper Telegraaf ...

Bloomberg While other mainstream auto brands head for sliding US demand this year, Jeep is rolling out new models to buck the trend and bring 16 straight months of sales declines to an end. Fiat Chrysler Automobiles NV’s most valuable brand is launching an all-new version of its iconic Wrangler sport utility vehicle in the first quarter, followed quickly by ...

Bloomberg A report on whether the UK has the right to change its mind on Brexit and remain in the European Union concluded that it would have to be a matter for judges. The European Parliament study said that the lack of any indication either way in Article 50 of the EU’s Lisbon Treaty means that it can’t be a ...

Bloomberg Facebook Inc., seeking to calm creators of articles and video after announcing a change in how their work will be promoted in its news feed, sent an email pledging to help them adapt. Stories and clips that draw comments and likes or are shared by users are more likely to be seen, Facebook said. The company will also continue ...

Bloomberg Walt Disney Co. Chief Executive Officer Bob Iger got $36.3 million in compensation in 2017 as the company announced plans to acquire a majority of 21st Century Fox Inc. His pay will probably more than double in fiscal 2018. Iger, 66, received a $15.2 million cash bonus tied to results including segment operating income and return on invested capital, ...

Bloomberg Porsche SE’s board was ordered by a German court to answer critical shareholder questions about what management at Volkswagen AG and the carmaker’s majority investor knew about the diesel scandal and whether any evidence was destroyed. The holding company’s board must answer five questions originally asked at its 2016 annual shareholders meeting, a Stuttgart court said in two rulings ...

Bloomberg Emirates, the world’s largest airline by international passengers, is talking to banks about raising as much as $1 billion through an Islamic bond sale that could happen in the first half, people familiar with the matter said. The Dubai government-owned carrier joins a list of regional issuers seeking funding from international debt markets before higher US interest rates push ...

ABU DHABI / Reuters Abu Dhabi has invited international firms to express interest in building one of the world’s biggest water desalination plants as the capital of the United Arab Emirates boosts capacity to meet rising demand, a senior official said on Wednesday. The project, estimated to cost between $600 million and $1.2 billion, will have capacity of 200 million ...

DUBAI / Emirates Business HH Sheikh Ahmed Bin Saeed Al Maktoum, Chairman of Dubai Airport Freezone Authority (Dafza), inaugurated Swiss luxury goods group Richemont’s new operations centre, the latest and most advanced facility in Dafza. The Richemont Operations Center is a pioneering project, as for the first time, Dafza has purpose-built a facility based on a client’s specific requirements. The ...