Lucknow / AP India’s most populous state is running out of meat. After the Hindu right-wing Bharatiya Janata Party came to power in Uttar Pradesh this month on the back of a resounding electoral victory and named a Hindu priest-cum-politician as the state’s chief minister, the government began cracking down on illegal slaughterhouses and meat shops. The new chief minister, …

  Bloomberg A pledge by crude producers to consider extending their output-cut deal failed to excite oil bulls, with prices dropping as more time was seen needed to trim swollen global stockpiles. Futures lost as much as percent 1.3 percent in New York, extending their third weekly drop this month as rising US supplies offset the effect of output curbs …

  Reuters Saudi Arabia’s government has cut the income tax paid by national oil giant Saudi Aramco to smooth the company’s initial public offer of shares next year, which is expected to be the world’s largest equity sale. A royal decree on Monday, retroactive to Jan. 1, set a tax rate of 50 percent for the firm. Previously, Aramco had …