Bloomberg Iron ore’s having a reality check on rising doubt that the exuberance that lifted prices to the highest since 2014 is entirely rational given the outlook for additional supply, the record stockpiles in China and statements of caution from some of the world’s biggest miners. Futures in China fell on Friday, with Australia’s central bank saying it expected ...

  Bloomberg Across America’s orchards and crop fields, a shrinking supply of migrants has already driven pay up faster than in the broader workforce. President Donald Trump’s immigration policy may turbocharge that trend. Wages for US fieldworkers rose 36 percent over the past decade through the conclusion of last year’s harvest in October, compared with 27 percent among non-farm employees, ...

  Bloomberg After striking deals in Russian oil and Congolese copper mining, Glencore Plc has set its sights on the US grain-trading industry. The company sold half of its agriculture division to two Canadian pension funds for $3.1 billion last year to fund an aggressive debt-reduction plan. Now, with cash levels rebounding and support from new partners for acquisitions, the ...

  Bloomberg The number of wealthy people granted investor visas to live in the UK fell by more than 80 percent last year from the peak in 2014, a sign that luxury home sales in the capital may slump further. While so-called Tier 1 investor visas rose 12 percent in 2016, the total granted was just 215, according to government ...

  Bloomberg Canadian satellite technology firm MacDonald Dettwiler & Associates Ltd. agreed to acquire DigitalGlobe Inc. in a cash and stock deal worth C$3.1 billion ($2.4 billion), doubling the company’s size and giving itself new access to lucrative US government customers. DigitalGlobe shareholders will receive $17.50 in cash and 0.3132 MDA shares representing a premium of about 18 percent of ...

  Bloomberg The UK government should stop intervening in power markets and better manage its carbon budgets in order to curb the cost of tackling climate change and boost energy security. That’s the conclusion of a report by a panel of lawmakers in the House of Lords, which says government policies to encourage investment in low carbon energy have all ...

    Bloomberg Volkswagen AG’s provisions for the diesel-cheating scandal rose to 22.6 billion euros ($23.9 billion), as the German carmaker continues to tally damages from the worst crisis in its history. The company took a charge of 4.4 billion euros in the fourth quarter, more than double the total from the previous nine months, to reflect a settlement related ...

  Bloomberg Brazil is moving to cast off the last shackles of government influence at iron-ore giant Vale SA — but not before replacing the CEO with someone more politically palatable. Murilo Ferreira’s six-year contract won’t be renewed when it expires in May, the Rio de Janeiro-based company said in a statement on Friday. The announcement came days after Vale ...

  Bloomberg Top US health insurance executives will meet on Monday with President Donald Trump, according to people familiar with plans for the session, a sign of the White House’s deepening involvement in efforts to repeal and replace Obamacare. Attendees will include chief executives of some of the biggest US health insurers, like UnitedHealth Group Inc., Aetna Inc., Cigna Corp., ...

  Bloomberg Pfizer Inc. said that it received two subpoenas from the US Attorney’s office in Massachusetts related to charities that help Medicare patients afford co-payments for drugs, the latest company to disclose involvement in the probe. The New York-based drugmaker said in a securities filing that it received subpoenas on December 2015 and on July 2016 requesting documents related ...