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VIENNA / Reuters OPEC and non-member oil producers could deepen output cuts or extend them for a year when they meet in Vienna this week as they seek to clear a global stocks overhang and prop up the price of crude, Kuwait said on Wednesday. The top oil producer in OPEC, Saudi Arabia, favours extending the output curbs by nine ...

KUWAIT / Reuters Kuwait Investment Authority (KIA), one of the world’s biggest sovereign wealth funds, said it had incurred a loss of 312 million dinars ($1.03 billion) in the financial year ended in March 2016, according to the country’s state news agency. The loss was 0.2 percent of total assets, KUNA quoted a KIA statement as saying late on Monday, ...

Bloomberg India’s Adani Group could walk away from its $16.5 billion Carmichael coal project in Australia unless a royalties deal can be reached with the state government, according to federal Resources Minister Matthew Canavan. The Queensland government’s failure to agree the terms of the royalty regime for the mine may jeopardize the development in the state’s Galilee Basin, Canavan said ...

Bloomberg Sales of diggers at a five year high. The price of rebar, a steel product used to reinforce concrete, back at 2012 levels. Crude steel output surging to a record. China’s economy may be slowing down but the nation’s old economy is still booming. The government’s effort to keep Asia’s biggest economy on track for its 6.5-percent growth target ...

Bloomberg SoftBank Group Corp. has quietly amassed a $4 billion stake in Nvidia Corp. making it the fourth-largest shareholder in the graphics chipmaker, according to people familiar with the situation. The Japanese company, which just closed its Vision Fund, disclosed it owned an unspecified amount of Nvidia stock when it announced $93 billion of commitments to the technology investment fund ...

Bloomberg Chinese consumers may have a lot more cash at their disposal than previously thought — and they’re ready to flash it. That’s the upshot of two items throwing fresh light on the outlook for consumer spending, a key metric in China’s much-vaunted shift from an investment- and export-led economy to one more based on people buying things like holidays, ...

Bloomberg Sea Ltd., Southeast Asia’s most valuable startup, has filed confidentially for a potential US initial public offering that could raise about $1 billion, according to people with knowledge of the matter. The Singapore-based company, formerly known as Garena, filed with the US Securities and Exchange Commission in the past few weeks, according to the people, who asked not to ...

Bloomberg Fiat Chrysler Automobiles NV keeps running into trouble with the same government that arranged its shotgun marriage. With a US Justice Department lawsuit filed alleging violations of clean-air rules, the Italian-American carmaker now will have to defend itself against accusations it’s run afoul of environmental, safety and securities laws in the span of just a few years. The suit ...

Bloomberg House Republicans are waiting anxiously for a new financial estimate on Wednesday on their Obamacare repeal proposal that could force them into an embarrassing do-over on the bill they barely passed early this month. Speaker Paul Ryan says he is uncertain about the nonpartisan Congressional Budget Office analysis of the measure’s budget impact — critical for meeting Senate rules ...

Bloomberg For the first time in almost 80 years, a private company has sunk a new offshore oil well in Mexican waters — the latest step in the country’s drive to allow foreign competitors back into its energy markets. A joint venture of London-based Premier Oil Plc, Houston’s Talos Energy LLC and Mexico’s Sierra Oil & Gas began drilling the ...