News

Bloomberg Crude production from the Organization of Petroleum Exporting Countries dropped again in November to a six-month low. Total production fell 80,000 barrels a day to 32.47 million a day last month, according to a Bloomberg News survey of analysts, oil companies and ship-tracking data. That was the lowest level since May, when output was 32.29 million. Angola led the ...

Bloomberg Europe’s biggest utility is betting on an Italian green power renaissance to lift business. Enel SpA expects Italy’s new national energy strategy to reverse a decline in green power generation by encouraging companies to help meet ambitious new goals, according to Antonio Cammisecra, chief executive officer of the utility’s renewables unit. “There will be a great renaissance of renewable ...

Bloomberg A $7.1 billion rail corridor in Rajasthan that’s set to cut freight times between India’s capital New Delhi and the business hub of Mumbai to 14 hours from 14 days is finally showing signs of progress. About 800 kilometres away in Gujarat, a 920-square-kilometre industrial area is taking shape near the village of Dholera, with hundreds of workers fusing ...

Bloomberg China is set to extend a 10 percent tax rebate to buyers of new energy autos as manufacturers from BMW AG to Tesla Inc. vie for a greater share of the world’s biggest market for clean-fuel cars, according to people with knowledge of the plan. The rebate was due to expire at the end of this year and will ...

Bloomberg Mercedes-Benz, edging past long-time China luxury-car market leader Audi, expects another 2018 to be another bumper year in the world’s biggest auto market as consumer appetite for high-end vehicles like the E-Class sedan shows no signs of slowing. “Significant double-digit growth” is expected for next year after a 28 percent jump in deliveries there this year through November, Hubertus ...

Bloomberg India announced incentives worth $131 million as it seeks to double overseas shipments by 2020 amid slowing trade as well as help exporters tide over a chaotic roll out of the new sales tax. The increased benefits for exporters in labour-intensive businesses including textiles and farms is in addition to incentives worth 250 billion rupees already available to traders, ...

Bloomberg European Union finance ministers were expected to discuss US legislation to slash taxes at a meeting in Brussels on Tuesday and whether the new plan violates international trade rules. The centerpiece of the tax bill that passed the US Senate is a reduction in the corporate tax rate to 20 percent from 35 percent. The bill still needs to ...

Bloomberg BMW AG is targeting another ambitious hike in plug-in hybrid and battery car sales next year to defend its position in the electric-car shift as competitors like Volkswagen AG ready their own battery lineups. The planned increase to about 150,000 cars sold would represent a 50 percent rise from this year, and a jump of about two-thirds from last ...

Bloomberg The UK’s net worth increased the most on record last year, as the value of land continued to increase. The nation’s total worth was estimated at 9.8 trillion pounds ($13.2 trillion) at the end of 2016, the Office for National Statistics said on Tuesday. That’s 803 billion pounds higher than the previous year— and, at almost 9 percent, the ...

Bloomberg UK services growth slowed in November from the fastest pace in six months as price pressures intensified. The services Purchasing Managers Index fell to 53.8 from 55.6 in October, IHS Markit said on Tuesday. Economists had forecast a reading of 55.0. Input costs increased the most since 2011 and prices charged rose at the fastest clip since 2008. While ...