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Reliance Industries on $4bn shopping spree

Bloomberg Reliance Industries Ltd., India’s second-largest company by market value, has been on a shopping spree this past year, with a focus on expanding the draw of its consumer offerings. Helmed by India’s richest man Mukesh Ambani, the company has struck at least 12 deals over 12 months with an estimated tab of about 289 billion rupees ($4.2 billion), according ...

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China cancels US soybean purchases

Bloomberg The trade war may have just started, but China has already been making moves in the soybean world as US shipments originally destined for the nation have been cancelled or rerouted. China lowered commitments to buy 366,000 metric tons of US soybeans in the season that ends on August 31 and cut purchases by 66,000 tons in the following ...

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Weak phone demand catches up with Samsung

Bloomberg Even as most global smartphone makers felt the impact of slowing smartphone sales months ago, Samsung Electronics Co. managed to weather the downturn. Not any more. The maker of Galaxy phones reported that operating income rose to $13.2 billion in the three months ended June, short of the 15.3 trillion-won average of analysts’ estimates, according to preliminary results. Smartphone ...

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