Reuters Saudi Arabia’s King Salman oversaw the signing of deals worth potentially $65 billion on the first day of a visit to Beijing on Thursday, as the world’s largest oil exporter looks to cement ties with the world’s second-largest economy. King Salman, who has overseen the launch of an ambitious economic reform plan since his accession two years ago, ...

  Bloomberg Prices have sunk, stockpiles ballooned and doubts about OPEC’s effectiveness grown, yet Wall Street hasn’t lost faith in oil’s recovery. Crude plunged below $50 a barrel in New York last week on signs that OPEC’s production cuts aren’t clearing a global glut quickly enough, and that US shale drillers are ready to fill in any shortfall. Nonetheless, Goldman ...

  Bloomberg California utilities are losing business to local power authorities that were created to deliver clean power to residents. Pacific Gas & Electric Co., the state’s biggest utility, expects to lose about 7.3 percent of its electric load this year, and potentially 21 percent by 2020, to these so-called community choice aggregators, according to Moody’s Investors Service. The shift ...