Bloomberg From 2008 to 2018 the amount of oil produced by the US, Canada and Brazil almost doubled. These three countries now produce roughly one quarter of the world’s oil, according to BP’s annual Statistical Review of World Energy 2019. The US alone in this time has more than doubled its oil output and effectively grabbed an additional 8 percentage ...

Bloomberg European Union leaders plan to underscore the importance of the fight against climate change when they meet next week, though their words will stop short of a mandate to move towards zeroing out fossil fuel emissions. Heads of government will pledge “building a more climate-friendly, neutral, green, fair and inclusive future” at the summit in Brussels on June 21 ...

Bloomberg The US budget deficit widened to $738.6 billion in the first eight months of the fiscal year, a $206 billion increase from a year earlier, despite a revenue boost from President Donald Trump’s tariffs on imported merchandise. The shortfall was 38.8 percent more than the same period a year ago, the Treasury Department said in its monthly budget review. ...

Bloomberg Some of the US’s biggest pharmaceutical companies sued the Trump administration to try and block a rule that would force them to put the price of their drugs in television advertisements. In the lawsuit filed in federal court, Merck & Co, Eli Lilly & Co, Amgen Inc and an advertising trade association claim that the Department of Health and ...

Bloomberg Canadian exporters are reporting widespread concerns about a global recession, with sentiment in the sector falling to the lowest level in seven years, according to a survey by the country’s export financing agency. Export Development Canada’s trade confidence index, a composite gauge based on a bi-annual survey of 1,000 businesses, dropped to 69.8, compared with 73.7 at the end ...

Bloomberg Allianz SE is making another bet on New York City’s Hudson Yards, buying into a second skyscraper in the development. The German insurer paid $384 million for a 49 percent stake in an office condo at 30 Hudson Yards, according to a statement. The transaction is part of a sale-leaseback with Related Cos., the co-developer of the $25 billion ...

Bloomberg Dish Network Corp, Charter Communications Inc and Altice USA Inc are among bidders for assets T-Mobile US Inc. plans to sell to win regulatory approval for its $26.5 billion takeover of Sprint Corp., according to people familiar with the matter. The companies are on a shortlist of bidders favored by the Justice Department, said the people, who asked to ...

Bloomberg PricewaterhouseCoopers was fined 4.55 million pounds ($5.8 million) by the UK’s accounting watchdog over failings in its handling of technology firm Redcentric Plc, giving fresh ammunition to critics calling for a breakup of the so-called Big Four auditing firms. The penalty was reduced from 6.5 million pounds after the company admitted its wrongdoing ahead of a final decision by ...

Bloomberg The same source responsible for a recent missile launch on an airport in Saudi Arabia likely perpetrated attacks on ships near the Strait of Hormuz, according to the Kingdom’s energy minister. Khalid Al-Falih’s comments during a G-20 ministerial meeting on energy and the environment in Japan come after US President Donald Trump blamed Iran for the vessel attacks near ...

Bloomberg China confirmed that a Chinese fishing vessel was involved in an incident with Filipino fishermen in South China Sea but denied that it hit and abandoned them. China’s preliminary investigation showed that Chinese fishing vessel Yuemaobinyu 42212 from Guangdong province was engaged in a “light purse seine operation” about midnight on June 9 when it was suddenly besieged by ...