RIYADH / Reuters Saudi petrochemicals firms should merge to boost their competitiveness and look to expand abroad, the head of major industry player SABIC told Reuters on Monday. The firms have enjoyed decades of cheap feedstock prices. But Saudi authorities began slashing subsidies in 2016, as a collapse in oil prices cut into state finances, prompting a search for efficiencies …

Bloomberg Puerto Rico plans to cancel a $300 million contract to rebuild the hurricane-ravaged electrical grid that went to a tiny company based in Interior Secretary Ryan Zinke’s Montana hometown, the head of the island’s power utility said. Ricardo Ramos, executive director of the Puerto Rico Electric Power Authority, or Prepa, said he will request permission from the utility’s board …

Bloomberg Toyota Motor Corp. is eyeing airless tires to help reduce the weight of battery-electric and fuel-cell vehicles and boost performance, even though the technology is years away from being ready for commercial use. The automaker is using airless tires—featuring individual motors in each wheel—on a vehicle for the first time with its hydrogen-powered concept car, Fine-Comfort Ride, unveiled at …