Bloomberg Macy’s Inc. rose after naming former eBay Inc. Senior Vice President Hal Lawton as president, bringing in an executive with an extensive technology background to the struggling department-store giant. Lawton, who starts on September 8, will be responsible for the Macy’s brand, including merchandising, marketing, stores and operations, the company. He inherits the post from Jeff Gennette, who took …

Bloomberg Oil pared gains after the American Petroleum Institute unexpectedly reported higher inventories of US gasoline and diesel last week, even as crude supplies declined. The API estimated that stockpiles of gasoline rose 1.4 million barrels last week and diesel expanded 2.05 million, according to people familiar with the data, which is only disclosed to members. That would be a …

KHOBAR / Reuters Saudi Aramco has received bids from international engineering companies to build gas booster compressor stations at Haradh and Hawiyah, industry sources said, as the country plans to diversify its energy mix. The contracts are part of a $4 billion scheme to increase gas production in the country for domestic consumption. Saudi Arabia’s domestic gas demand has been …