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Bloomberg Hungarian Prime Minister Viktor Orban and Slovak Premier Robert Fico suffered setbacks to their controversial migration policies at the European Union’s top court. An adviser to the EU’s Court of Justice said provisional EU rules to relocate refugees from member states such as Greece and Italy, key entry points to the bloc, should also apply to Hungary and Slovakia. ...

Bloomberg LVMH’s first-half profit grew at the fastest rate since 2011 as Japan and Europe joined a luxury industry recovery led by China, showing double-digit sales increases in the second quarter. The world’s biggest luxury-goods company said Japan was boosted by promotional activity like staging Louis Vuitton’s latest runway show there, while Europe was helped by more favorable comparisons in ...

HOUSTON / Reuters Indonesia is open to rejoining the Organization of the Petroleum Exporting Countries as long as it is not forced to curb its own crude oil production, the nation’s energy and mineral resources minister said. “We would have to have a concession for not following cuts from time to time,” the minister, Ignasius Jonan, said in an interview ...

Bloomberg Oil extended gains from the highest close in seven weeks as industry data showed US crude stockpiles plunged, easing a glut. Futures climbed as much as 1.4 percent in New York after rising 4.6 percent in the previous two sessions. Inventories tumbled by 10.2 million barrels last week, the American Petroleum Institute was said to report. If the decline ...

Bloomberg Mexico processed the lowest amount of crude in decades in late June and early July, based on preliminary numbers, after a fire and flood took the country’s largest refinery offline last month. State-owned Pemex refined 695,000 barrels a day of crude, equivalent to about 42 percent of Mexico’s refining capacity, July 1 to July 16, according to the company’s ...

BEIJING / Reuters Russia was China’s biggest crude oil supplier for a fourth straight month in June, its longest streak ever in the top spot, data from the General Administration of Customs showed. China’s total crude oil imports reached 36.11 million tonnes in June, or 8.79 million barrels per day (bpd), making the country the world’s largest buyer for a ...

Bloomberg The biggest US oil import hub wants to grab a piece of surging North American crude exports. Louisiana Offshore Oil Port, the only terminal along the US Gulf Coast able to handle a fully laden supertanker, is gauging interest from shippers in sending crude overseas on the world’s biggest ships by early next year. Ports are competing to fill ...

Bloomberg Nintendo Co.’s Switch is showing signs of becoming a money earner. The Kyoto-based company reported profit and sales that topped estimates as more people bought the new gaming machine, lifting prospects for brisk shipments during the holiday season. Operating profit for April-June, the Switch’s first full quarter on store shelves, was 16.2 billion yen ($145 million), exceeding analysts’ average ...

Bloomberg India opened a probe into whether Chinese solar-equipment makers are hurting its domestic industry by dumping inventories and driving down prices to unfair levels. “A causal link between the said dumping and injury exists to justify an initiation of an anti-dumping investigation,” according to a notification published on the website of the Directorate General of Anti-Dumping and Allied Duties. ...

Bloomberg Earliest indicators show that China’s economic engine is humming this summer. Confidence of small- and medium-sized companies rebounded in July, satellites are picking up increasing activity on the ground, sentiment of steel traders and producers has improved, while that of sales managers is at the highest level in more than two years. This buoyancy helps offset concern from wary ...