Bloomberg SM Energy Co.’s $980 million purchase of drilling rights in the biggest U.S. crude field indicates producers are willing to pay a premium for access to one of the few spots where oil exploration still turns a profit. SM, which extracts oil and natural gas from the Rocky Mountains to the Gulf Coast, agreed to pay the equivalent ...

  Bloomberg India’s central bank Governor Raghuram Rajan left interest rates unchanged at his last policy review as food prices threaten to push inflation above the nation’s target. The benchmark repurchase rate will stay at a five-year low of 6.50 percent, the Reserve Bank of India said in a statement in Mumbai on Tuesday. The move was predicted by 27 ...

  Bloomberg Australia & New Zealand Banking Group Ltd. shares rose to a seven-month high after the lender said it had boosted capital and reduced low-returning assets, while the bank’s chief executive officer indicated expenses for bad debts will remain steady. The stock jumped as much as 3.7 percent in Sydney even after Melbourne-based ANZ said adjusted proforma unaudited cash ...

  Bloomberg Bank of England (BOE) policy maker Ian McCafferty said that officials will likely ease policy again if the economy develops in line with the central bank’s forecasts — though they should take a gradual approach. “More easing is likely to be required” if the UK economy slows as initial survey data suggests, McCafferty said in an opinion piece ...

  Bloomberg New Zealand central banker Graeme Wheeler is going to need more than a plain-vanilla rate cut if he wants a weaker local currency. Investors are certain the Reserve Bank will reduce its official cash rate Thursday by at least a quarter point to 2 percent, a record low, and most expect it will deliver another cut to 1.75 ...

  Bloomberg Delta Air Lines Inc. Chief Executive Officer Ed Bastian apologized for a computer failure that halted flights for several hours and grounded thousands of passengers as the second-biggest U.S. carrier struggled to restart its worldwide operations. More than 100 flights are expected to be canceled Tuesday morning, about 200 could be delayed and those numbers could grow overnight, ...

  Sydney/ AFP MH370 plunged into the ocean at high speed — up to 20,000 feet a minute — reinforcing analysis that the missing Malaysia Airlines jet crashed in the current search zone, a report said Tuesday. he Boeing 777 disappeared on March 8, 2014 en route from Kuala Lumpur to Beijing with 239 people onboard. An extensive underwater hunt ...

  Bloomberg Singapore has put on hold a decision to buy as many as 12 of Lockheed Martin Corp.’s F-35 jets, according to information from the Pentagon’s program office. The island nation’s permanent secretary of defense development informed the US in mid-June that it was delaying final steps toward purchasing four of the fighters by about 2022, with an option ...

  Bloomberg Gap Inc., the biggest US apparel-focused retailer, fell in late trading after posting July comparable sales that missed analysts’ estimates and indicated that foot traffic at its stores might not improve as much as expected later in the year. Same-store sales — a key benchmark — dropped 4 percent in July, the San Francisco-based retailer said in a ...

  Jakarta/ AFP The main airport serving the Indonesian capital Jakarta has opened a new terminal that will allow the overcrowded aviation hub to handle tens of millions more passengers a year. Air passenger numbers are soaring in Indonesia, the world’s biggest archipelago nation and Southeast Asia’s top economy, as a growing middle class increasingly chooses to fly but ageing ...