News

Bloomberg Citigroup Inc. will move its Japan headquarters and about 1,200 employees to a new building in Tokyo by the end of the third quarter, according to people familiar with the matter. The New York-based firm will officially move the location of its main Japan office to the Otemachi Park Building from the Shin-Marunouchi Building on August 28, said the ...

Bloomberg An online advertisement for Lancome lipstick or a Lamborghini might not appear to have anything to do with the technology guts of modern financial markets. But with fraud rampant, some of Wall Street’s hottest buzzwords are being uttered on Madison Avenue. About a fifth of digital ad spending—an estimated $16 billion this year—will wind up in the pockets of ...

Bloomberg Total SA agreed to buy the oil and gas unit of A.P. Moller-Maersk A/S, the French company’s biggest acquisition since 1999 and another sign of the accelerating pace of energy deals after a long downturn. Total will pay Maersk with $4.95 billion of its own shares and assume $2.5 billion of the Copenhagen-based company’s debt, according to a statement ...

Bloomberg US utility owner Sempra Energy has agreed to buy control of Texas power distributor Oncor Electric Delivery Co. for $9.45 billion, topping a bid by Warren Buffett’s Berkshire Hathaway Inc. just last month. Sempra’s deal for Energy Future Holdings Corp., which owns 80 percent of Oncor, is valued at about $18.8 billion including debt, the San Diego-based company said ...

SINGAPORE / DUBAI / Reuters Iraq has informed its customers that it plans to switch its price benchmark for Basra crude in Asia to DME Oman futures from January, dropping the average of Platts’ Oman-Dubai quotes, in a major shift in the way it prices its oil. The proposal by state-oil marketer SOMO would mark a significant change by OPEC’s ...

BEIRUT / Reuters Attracting foreign investment for Iran’s oil sector will continue to be a top priority during President Hassan Rouhani’s second term, Iranian Oil Minister Bijan Zanganeh said. “Attracting foreign investment and technology is a priority for us in the oil industry, whether in shared fields or for increasing the production of oil at fields that are already operational,” ...

Bloomberg Royal Dutch Shell Plc is seeking creative solutions to bring gas from Israel and Cyprus to market, a step that could help turn the Mediterranean region into a major gas- producing hub. Shell is in talks to buy natural gas from Israel’s Leviathan field, combine it with output from Cyprus’s Aphrodite field, in which it owns a 35 percent ...

Bloomberg GreenWish Partners, a renewable energy company run by a former Morgan Stanley executive, is planning to invest $800 million on solar-powered telephone towers across Africa. The project could fuel economic growth by providing power for essential services. Sub-Saharan Africa has the lowest rates of energy access in the world and is home to about half of the world’s 1.2 ...

Bloomberg Shares of Unicom Group’s key units in Shanghai and Hong Kong rose after China’s second-largest wireless carrier announced a $11.7 billion stock sale as part of a government push to draw private capital into its state-owned enterprises. China United Network Communications Ltd., which has been suspended from trading since April, climbed by the 10 percent daily limit to 8.22 ...

Bloomberg Thailand’s economy grew at the fastest pace in more than four years, led by a surge in farming output and tourism. Gross domestic product rose 3.7 percent in the second quarter from a year ago after expanding 3.3 percent in the first quarter, the National Economic and Social Development Board said on Monday. The median estimate of 21 economists ...