Bloomberg China’s largest food-delivery site Meituan has hit back against allegations that it charged onerous commissions to restaurants during the Covid-19 outbreak, underscoring the delicate balance the company must strike to get its business back on track. Responding to complaints from a restaurant association in the southern province of Guangdong, Meituan said its average profit per delivery order was less ...

Bloomberg China’s securities regulator punished two high-flying startups for misleading shareholders, barring them access to public markets for new funding. Shares of Ningbo Ronbay New Energy Technology Co and Zhejiang HangKe Technology Inc closed down at least 10% in Shanghai after the companies were told they wouldn’t be allowed to sell stocks or bonds publicly for a year. The punishment ...

Bloomberg President Donald Trump said the “Big Oil deal” sealed will save hundreds of thousands of American jobs. But the agreement he brokered depends on a sharp downturn in shale that will likely bring about a wave of bankruptcies and job cuts. Days of frantic diplomatic maneuvering culminated in an agreement by Opec+ to pare production by 9.7 million barrels ...