Bloomberg Major oil producers will rely on acquisitions for about half their reserve replacement in the future after cutting exploration budgets to weather the crude-price collapse, according to Wood Mackenzie Ltd. Big oil companies are no longer trying to replace all their production through conventional exploration, the energy consulting company said in a report published on Tuesday. “Now their ...

  Bloomberg Oil declined on speculation a global glut will be sustained amid rising supply from Nigeria to the U.S. Futures fell 0.6 percent in New York after advancing 0.6 percent on Monday. Nigeria’s output expanded to 1.75 million barrels a day and will keep rising after government outreach and a cease-fire with militants allowed some production to restart, Minister ...

  Bloomberg Saudi Arabia’s oil exports climbed in July to a record level for that month, as the kingdom curbed the amount of crude it burns to generate energy domestically, according to the Joint Oil Data Initiative. The world’s biggest oil producer raised shipments by 166,000 barrels a day to 7.622 million a day in July compared with the previous ...

  Reuters Egypt’s central bank is expected to raise interest rates on Thursday, a Reuters poll showed, in an attempt to fight inflation and attract foreign investment as the country pushes through with economic reforms. Egypt has been struggling with a shortage of foreign currency since the 2011 uprising drove away tourists and foreign investors — two major sources of ...

  AFP Twitter has announced it is easing its 140-character limit on tweets, in the latest effort to broaden the appeal and boost the user base of the social network. The new policy announced in May and now in effect no longer factors in certain add-ons, including pictures, into a message’s length. “Say more about what’s happening! Rolling out now,” ...

  AFP Google has sent out invitations to an October 4 event, hinting that the Internet titan will show off a new smartphone powered by its Android mobile software. Emailed invitations revealed only the time and place for the gathering in San Francisco, the message topped by blue, red, yellow, and green dots of color. Google fired off a Twitter ...

  Bloomberg Oracle Corp. unveiled new services that help customers take advantage of cloud computing, putting it more directly in competition with Amazon.com Inc. The company has announced Cloud@Customer, which puts the same hardware and software Oracle uses in its data centers in the customers’ own facilities, Executive Chairman Larry Ellison said Sunday during a presentation at Oracle OpenWorld in ...

  Relaxnews Apple recently caused a stir by removing the headphones jack from its iPhone 7 and 7 Plus smartphones, a trend that could soon spread to other manufacturers and which will no doubt boost sales of Bluetooth headphones. Here are three pairs of wireless headphones promising some of the best performances in their fields. NOISE-CANCELING CAPABILITY The Bose QuietComfort ...

  Bloomberg Traders who are better at listening to the clues their bodies give them about market patterns make more money and survive longer in the industry, according to a study by former Goldman Sachs Group Inc. derivatives trader-turned-neuroscientist John Coates. Coates, whose 2012 book “The Hour Between Dog and Wolf” revealed how traders’ decisions are influenced by biology, wanted ...

  DPA Just before the explosion, a warning signal sounds; a few seconds later Bernd Sauter presses the button marked “fire” and thousands of tons of rock come crashing down. Sauter works at a quarry belonging to a construction materials company, HeidelbergCement, and several times a month he gets to explode cliffs of limestone to be made into cement. “It’s ...