Bloomberg The biggest independent refiners in the US are lining their pockets with billions of dollars in tax reform windfalls just in time to invest in equipment that meets ever-tightening domestic and global environmental rules, making the “liquid freedom” they export cleaner than ever. “The reduction in the corporate tax rate is a catalyst for incremental investment in the business,” ...

Bloomberg After sinking billions into driverless cars, internet balloons and life-extension research, Alphabet Inc. is being weighed down by more mundane expenses—the cost of running its behemoth online search business. Google’s parent company reported fourth-quarter profit that missed analysts’ estimates, hobbled by rising payments for search and advertising distribution to companies like Apple Inc., as well as higher marketing spending ...

Bloomberg GlaxoSmithKline Plc and Reckitt Benckiser Group Plc are the only companies to have submitted non-binding bids for Pfizer Inc.’s consumer business after rival candidates walked away, according to people familiar with the matter. Pfizer plans to open a data room for Glaxo and Reckitt to start due diligence on the assets before submitting final offers in the next few ...

Bloomberg The European Union may be willing to discuss residency rights for EU citizens arriving in the UK after Brexit, a senior EU official said, in what could signal a less rigid approach from the bloc ahead the separation talks in Brussels. While the EU won’t accept an end to the freedom of movement during the transitional period after March ...

Bloomberg Apple Inc. said a “small percentage” of iPhone 7 smartphones may experience a component failure that makes it appear the phone isn’t connected to cellular networks even when service is available. Apple said it would repair affected devices at no charge. The units were sold from September 2016 to February 2018 in China, Hong Kong, Japan, Macau and the ...

Bloomberg The US labour market began 2018 on a strong note as Americans saw wage gains accelerate amid better-than-expected hiring, raising hopes that a long-overdue pickup in worker pay is finally in train. Nonfarm payrolls rose 200,000 in January, exceeding the median estimate of economists for a 180,000 increase, Labor Department data showed, as the jobless rate held at a ...

Bloomberg The political tides could finally be turning against Theresa May. The embattled British prime minister has defied odds to survive a disastrous election result and difficult Brexit negotiations by papering over differences among her Conservatives. But there is a growing sense May’s situation has become untenable as her party’s divisions over the European Union spill out. While it remains ...

Bloomberg Democratic lawmakers circulated talking points in which they say House Republicans are “now part and parcel to an organised effort to obstruct” Special Counsel Robert Mueller’s investigation into Russian interference in the 2016 election. “Until now, we could only really accuse House Republicans of ignoring the President’s open attempts to block the Russia investigation,” Democratic members of the House ...

AMMAN / Reuters Syrian rebels shot down a Russian warplane and killed its pilot on the ground after he ejected from the plane, Russia’s defence ministry and Syrian rebels said. The SU-25 came down in an area of northern Idlib province that has seen heavy air strikes and fighting on the ground between Syria’s government forces backed by Russia and ...

Bloomberg Italian Prime Minister Paolo Gentiloni condemned a drive-by shooting in the city of Macerata that targeted migrants, and asked all political parties to act responsibly ahead of national elections on March 4. “I trust in the sense of responsibility of all political forces,” Gentiloni said during a news conference in Rome after the incident. “Criminals are criminals and the ...