News

Bloomberg BP Plc and Reliance Industries Ltd. will invest as much as $6 billion to revive gas output from offshore India and plan to expand their partnership to sell transport fuels amid efforts to boost the use of cleaner-burning energy in the world’s demand growth center. The companies are resuscitating a partnership born in 2011, encouraged by several government reforms, ...

Bloomberg Summer is about to kick in, and that’s good news for US natural gas bulls. Gas futures jumped 4.2 percent, the steepest one-day gain in 10 weeks, after a government report showed stockpiles grew less than expected. Prices could extend gains given forecasts for unusually warm weather that’s set to sweep across most of the lower- 48 states in ...

Bloomberg As if a mini-collapse in oil prices wasn’t bad enough for OPEC, the pattern in which futures contracts are trading years from now has flipped into the worst possible structure for the exporter group. Brent and West Texas Intermediate crudes, down almost 15 percent since late May, are both trading in contango, where forward prices get higher all the ...

Bloomberg A group led by Bain Capital LP and Japanese investors has offered about 2.1 trillion yen ($19 billion) for Toshiba Corp.’s semiconductor division, emerging as a leading bidder in the hotly contested auction, according to people familiar with the matter. The US private equity firm has the backing of state-supported Innovation Network Corp. of Japan and Development Bank of ...

Bloomberg Hyundai Motor Co. is counting on its first global compact SUV model to revive flagging sales after missing out on the popularity of sport utility vehicles in its major markets. Vice Chairman Chung Eui-sun unveiled the Kona SUV, with a starting price of 18.95 million won ($16,800). The model will begin sales this month in South Korea, followed by ...

Bloomberg As monsoon rains move across India — usually a boom time for the agriculture sector — farmers have left their land and taken to the streets amid growing anger over falling food prices and high debts. With protests spreading around the country, the government of Prime Minister Narendra Modi is under pressure to provide more incentives. A drop in ...

Bloomberg India’s palm oil purchases probably climbed for a fourth straight month in May as a drop in global prices boosted demand amid a stronger local currency. Imports rose 21 percent to 798,000 metric tons from a year earlier, according to the median of five estimates in a Bloomberg survey of processors, brokers and analysts. Total vegetable oil purchases rose ...

Bloomberg The White House is divided over how hard to come down on cheap steel imports in a debate that will help set the tone for future trade policy, according to two industry representatives briefed on the discussions. As the Commerce Department prepares to disclose its findings from an investigation into possible national-security threats posed by steel shipments, Secretary Wilbur ...

Bloomberg Lyft Inc. complained to a judge that Uber Technologies Inc. moved to drag it into the larger ride-hailing company’s trade-secrets fight with Waymo two days after Lyft and the Alphabet Inc. unit announced an autonomous driving partnership. Lyft said Uber has demanded confidential information about “expansive and irrelevant topics” including an analysis of Lyft as a potential acquisition target ...

Bloomberg A former UBS Group AG compliance officer and a day trader charged by UK regulators with insider trading appeared in a London court for the first time to face allegations that they made 1.4 million pounds (1.8 million) illegally trading shares of Elizabeth Arden Inc. and four other companies. Fabiana Abdel-Malek, 34, and Walid Choucair, 38, were charged by ...