News

  Bloomberg Qatar Petroleum is exploring for oil and gas in Cyprus and Morocco as part of a strategy to expand the tiny Gulf emirate’s global energy investments. The world’s biggest producer of liquefied natural gas known as QP must cope with local limits on growth as it seeks to expand its LNG business and increase its production and reserves ...

  Bloomberg The oil-trading boom that cushioned the profits of Royal Dutch Shell Plc and BP Plc through the price slump of 2015 and early 2016 is over. BP said it made a “small” loss trading oil in the fourth quarter, while Shell last week said trading profits “flattened” in late 2016. The fall off in trading contributed to worse-than-expected ...

  Bloomberg China’s doors to foreign investors may be opening ever wider, but that’s not enough for many worried about finding an exit. Fourteen months after qualifying for official reserve-currency status, and after a series of steps opening up domestic markets to overseas funds, the take-up remains below estimates. For all China’s attraction as the second-largest economy with large and ...

  Bloomberg Rio Tinto Group has decided to gift the Bunder diamond deposit in India to the state government of Madhya Pradesh, where the mine is located, after the producer stopped work on it last year. The Bunder project was closed as Rio sought to cut costs and conserve cash. Under an order signed last month, the Madhya Pradesh government ...

  Bloomberg Sumitomo Metal Mining Co. said it will post a second consecutive annual loss after taking another charge on its Sierra Gorda copper mine in Chile. At the same time, it lifted its operating profit outlook due to a recovery in metals prices and a fall in the yen. The Tokyo-based company, one of Japan’s top three base metals ...

  Bloomberg Hyundai Merchant Marine Co., South Korea’s biggest sea carrier, said it will post losses through the first half of 2018 as the container-shipping industry attempts to recover from Hanjin Shipping Co.’s bankruptcy and years of excess capacity. As a hedge against adverse conditions plaguing shipping, Hyundai Merchant has initiated talks to invest in box terminals in Southeast Asia, ...

  Bloomberg Harvard University raised $1.2 billion from donations, a record for the world’s richest college. The haul was erased by $2 billion in investment losses and spending. Harvard’s take was the most by any US university as colleges collected an unprecedented $41 billion in fiscal 2016, the New York-based Council for Aid to Education, which tracks university giving, said ...

  Bloomberg US solar-industry employment in 2016 grew at the fastest pace in at least seven years, with growth in all sectors including manufacturing, sales and installations, as demand for clean power swelled. One out of every 50 new American jobs last year was in the solar industry, which now employs more than 260,000 workers, according to an annual report ...

  Bloomberg Swelling inventories, rising incentives and a flat US auto market usually suggest General Motors Co. will be preparing investors for a tough year. Instead, the biggest US automaker on Tuesday posted record annual profit and said it sees more growth on the horizon. GM expects to match or exceed last year’s results in large part because lucrative sport ...

  Bloomberg Brazil’s agriculture minister expects that rising protectionism in the US will create “many opportunities” for his country’s industry, including increased trade with Mexico. Mexico’s representatives will discuss the possibility of importing soybean and beef from Brazil in a meeting with local farmers and industry members later this month, Blairo Maggi said at an event in Sao Paulo. “Brazil ...