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Bloomberg Apple Inc. Chief Executive Officer Tim Cook collected 560,000 shares, half of them linked to the company’s performance and the maximum allowed under the iPhone maker’s long-term compensation programme. The award was worth $89.2 million when it was granted on Thursday, based on Apple’s $159.27 closing price. He received the performance-linked stock because Apple shares outperformed at least two-thirds ...

Bloomberg Google faces a deadline to tell the European Union how it plans to comply with an order to stop discriminating against rival shopping search services under threat of new fines that would add to a record $2.9 billion penalty. The EU gave the Alphabet Inc. unit 60 days to propose how it would “stop its illegal content” and 90 ...

Bloomberg Uber Technologies Inc.’s new chief executive officer likely comes with a price tag in the neighborhood of $200 million. Dara Khosrowshahi, who spent 12 years at the helm of Expedia Inc., held unvested stock options in that company worth $184.4 million, according to data compiled by Bloomberg. Companies typically grant replacement awards to executives who must forfeit unvested equity ...

Bloomberg New York boosted the minimum price of a pack of cigarettes by 24 percent to $13 and placed a cap on the number of tobacco sellers, part of the city’s biggest crackdown on smoking in more than a decade. The anti-tobacco moves came in the form of a seven-point package of laws that Mayor Bill de Blasio signed. The ...

Bloomberg ­­­­­­­­­­­­­­­ As devastating as the flooding has been for oil refiners in the US Gulf Coast, surplus fuel inventories may help the industry withstand the worst storm to hit the country in more than a decade. Deluges from Tropical Storm Harvey have turned Houston’s busiest highways into canals of standing water and displaced thousands of people and livestock. The ...

Bloomberg OPEC’s second-largest producer is stepping up the campaign to get more for its oil by looking to revamp the way it sells crude to its biggest customers. Iraq is considering plans to use a new reference price for sales to Asia, according to traders, who received a notice from the state oil company SOMO. The producer is proposing to ...

Bloomberg China’s move to create the world’s biggest power company is expected to be the first such government-managed mega-merger by the largest energy consumer. The newly created China Energy Investment Corp. — a combination of Shenhua Group Corp., the nation’s largest coal miner, and China Guodian Corp., one of its top-five power generators — may be the first of multiple ...

Bloomberg In another sign that the petroleum era is drawing to a close, Denmark is selling off its last oil company with barely a peep. Once considered a strategic asset, on a par with national carriers or shipyards, the oil and gas division of A.P. Moller-Maersk A/S is being bought by French giant Total SA. The $7.45 billion deal is ...

Bloomberg Billionaire Carl Icahn says an oil industry push for structural change to the US biofuels mandate will persist, raising the prospect of legal action, even if the Environmental Protection Agency denies refiner requests. Independent oil refiners have no plans to abandon their view that the current structure of the Renewable Fuel Standard is flawed, Icahn said in an interview, ...

Bloomberg The Renault-Nissan alliance is expanding its push into China, teaming up with Dongfeng Motor Group Co. on its first locally designed electric vehicle as emissions rules tighten in the world’s largest car market. Renault SA, Nissan Motor Co. and Dongfeng established a joint venture to develop a battery-powered model based on a small sport utility vehicle platform developed by ...