Bloomberg Saudi Aramco, the world’s largest oil exporter, lowered the pricing terms for Arab Light crude sold to Asia by the most in 10 months, signaling Saudi Arabia has no plans to back down while OPEC rival Iran tries to regain market share amid a global oversupply. State-owned Saudi Arabian Oil Co. said Sunday it will sell cargoes of ...

  Bloomberg Iran is expected to approve a new model for oil contracts on Wednesday, paving the way for billions of dollars of foreign investment to help rebuild its energy industry. “We are awaiting government approval due to be out on Wednesday,” Oil Minister Bijan Namdar Zanganeh said at an energy conference in Tehran on Monday. “Our priorities will be ...

  Bloomberg Japan drove declines in Asian shares following Friday’s surge in the yen, while emerging-market currencies played catch-up as reduced bets on U.S. interest-rate increases weighed on the dollar. Oil swung to losses. Exporters led the Topix index down for the second time in three days as the yen, while pulling back somewhat, remained beyond 103 per dollar following ...

  AFP Didi Chuxing, the dominant ride-hailing service in China, said it will acquire Uber Technologies Inc.’s operations in the country, ending a battle that cost the two companies billions as they competed for customers and drivers. Didi will buy Uber’s brand, business and data in the country, the Chinese company said in a statement. Uber Technologies and Uber China’s ...

  AFP Leading Australian publisher Fairfax Media said it would post nearly Aus$1 billion in writedowns in the year to July, while it announced the creation of a new reporting segment for its lucrative online real estate division. Like its global peers, the group, which owns The Sydney Morning Herald and The Age newspapers, has had add to slash jobs ...

  Bloomberg Tokyo Gas Co., Japan’s second-biggest buyer of liquefied natural gas, is in talks with European companies to swap cargoes it owns from the U.S. with those in Asia to reduce shipping times and costs. The utility is offering cargoes from the Cove Point project on the U.S. East Coast, which is expected to start up late next year ...

  Bloomberg Corporate earnings are heading for a fifth straight quarter of declines, dragged down mostly by energy companies’ struggles with low oil prices and a tepid global economy that threatens to throttle sales growth in many industries. U.S. companies as varied as hamburger chain McDonald’s Corp. and Honeywell International Inc., a maker of gas-processing equipment and cockpit controls, have ...

  Bloomberg SolarCity Corp. board members approved a $2.6 billion buyout from Elon Musk’s Tesla Motors Inc. in the solar industry’s biggest deal to date. Tesla agreed to pay $25.37 a share in stock for the largest U.S. rooftop solar company, according to a statement. Analysts have said the price is too low and investors have questioned the wisdom of ...

  Bloomberg Nissan Motor Co. is growing faster in the U.S. than any mass-market carmaker and edged past rival Honda Motor Co. in this year’s first half. That might not be a good thing for Nissan’s bottom line. Chief Executive Officer Carlos Ghosn wants Nissan to pass Honda and get 10 percent of the North American market. Yet Nissan’s growth ...

  Bloomberg Verizon Communications Inc. agreed to buy GPS vehicle-tracking company Fleetmatics Group Plc in an all-cash deal valued at $2.4 billion, vaulting the telephone giant deeper into the automotive-technology market. Verizon will pay $60 a share for the Dublin, Ireland-based company, a 40 percent premium to Fleetmatics’ closing price last week, according to a statement. With its wireless business ...