News

  Bloomberg Toshiba Corp. had promised on Tuesday would be the day it explained the depth of trouble in its nuclear business. Instead, the company provided hours of chaos that shook investor confidence and raised new questions about the company’s future. It began with Toshiba confirming plans to report earnings at noon in Tokyo, including a looming multibillion-dollar loss in ...

  Bloomberg Steelmakers aren’t out of the woods yet. A year-long rebound risks fading as a slowdown in China’s property market deepens, exposing bullish sentiment as overblown, according to a US-based hedge fund manager and former Citigroup Inc. analyst. “China’s real estate sector is the biggest X-factor for the steel market globally this year,” Ivan Szpakowski, chief investment officer at ...

  Bloomberg China’s producer prices increased the most since 2011, with the world’s biggest exporter further lifting the outlook for global inflation. Producer price index rose 6.9 percent in January from a year earlier, compared with a median estimate of 6.5 percent in a Bloomberg survey and a 5.5 percent December gain. Consumer-price index climbed 2.5 percent, boosted by the ...

  Bloomberg Australian business conditions jumped to the highest level in more than nine years and the employment gauge surged, diminishing the likelihood of interest-rate cuts in the near term. The business conditions index — a measure of hiring, sales and profits — jumped to 16 in January from a revised 10 in December, a National Australia Bank Ltd. survey ...

  Bloomberg Singapore’s central bank said it will allow foreign takeovers of the country’s three finance companies, as part of wider industry changes that seek to boost lending to small and medium-sized enterprises. The Monetary Authority of Singapore is prepared to consider applications for mergers or acquisitions if any prospective partner “commits to maintaining SME financing as a core business” ...

  Bloomberg A crippled spillway is threatening to submerge an entire region of northern California after a recent deluge of rain. And the state’s power market may already be feeling it. As state officials rush to repair an emergency spillway for the Oroville dam — just 150 miles (241 kilometers) north of San Francisco — an 819-megawatt hydropower plant, capable ...

  Bloomberg Williams Cos. is following through on a promise to unload assets and double down in a region of the U.S. where natural gas production is still booming: the Marcellus shale formation. On Thursday, the master-limited pipeline partnership controlled by Williams Cos. said it had struck a deal with Western Gas Partners LP to exchange its 50 percent stake ...

  Reuters Russian crude imports to China have risen in early 2017 as the country’s independent, or teapot, refiners have expanded their diet to include the Urals grade, trade sources said on Tuesday. Russia could expand its market share in China, the second-largest oil consumer, this year after a drop in Brent prices relative to Middle East crude benchmark Dubai ...

  Bloomberg It’s not just US President Donald Trump who’s bullish on infrastructure investing. Mutual and exchange-traded funds dedicated to building and upgrading roads, bridges, airports and other projects attracted more than $450 million from November through January, the biggest three-month period in almost two years, according to Morningstar Inc. The inflows reversed redemptions during 15 of the 16 months ...

  Bloomberg Britain should consider linking with China or California on climate policy and emissions trading after leaving the European Union, according to a panel of lawmakers. “Repatriating environmental law to the UK will be an immensely complicated task,” said Robin Teverson, chairman of the House of Lords EU Energy and Environment Sub-Committee. “We are not convinced that the government ...