Bloomberg Devon Energy Corp agreed to acquire WPX Energy Inc in a $2.56 billion all-stock deal, creating one of the largest independent US shale producers and answering investor calls for consolidation at a time of crisis for the sector. Devon shareholders will own about 57 percent of the combined company, Devon and WPX said on Monday in a statement. The ...

Strong states grow stronger by putting limits on their own power; weak states become weaker by descending into arbitrariness. India has to choose which it wants to be. That’s the message being given to New Delhi by an international arbitration tribunal in The Hague. The panel threw out the Indian government’s $3 billion tax demand against Vodafone Group Plc, finding ...

Having delivered a heavy blow to the semiconductor plans of China’s biggest technology manufacturer, the US government now seems keen to knock down the nation’s biggest contract chipmaker. The action looks opportunistic. Export restrictions placed on Semiconductor Manufacturing International Corp (SMIC) mean US companies will have to apply for a license to sell some products to the Shanghai-based chipmaker. The ...