Reuters Singapore’s long hangover from a near-record fuel oil trading binge in March is ending as tonnage traded that month and held offshore moves into landed tanks, signalling a tighter market in the world’s biggest trading hub for the shipping fuel. The excess floating storage taken up in March is now virtually empty. With fuel oil supplies coming into ...

  Bloomberg Apple Inc. acquired artificial intelligence startup Turi Inc. for about $200 million, according to people familiar with the situation, in the latest deal by the iPhone maker to accumulate advanced computing capabilities for its products and services. Turi helps developers create and manage software and services that use a form of AI called machine learning. It also has ...

  London / Bloomberg Britons living close to fracking wells could be paid some of the proceeds under proposals being considered by the UK government. Prime Minister Theresa May has added an option to proposals to be consulted on this week that money from the fund set up to compensate areas hosting shale gas extraction sites be paid directly to ...

  California / Bloomberg The chief executive officer of the Nordic region’s biggest road transport company predicts the trucks he relies on can start operating without drivers within the next 5-10 years. Jens Bjoern Andersen, who drives a Tesla to work every day, giving him a first-hand view of how the technology is advancing, says the know how is already ...

  Buenos Aires / Bloomberg Argentina plans to sell as much as $8 billion in bonds that pay little to no interest as one of the options available for tax evaders seeking to repatriate money held abroad. Argentina will offer as much as $3 billion of three-year bonds that pay no interest and $5 billion of notes due in 2023 ...

  Bloomberg The Philippine central bank has slapped a 1 billion-peso ($21.3 million) penalty on Rizal Commercial Banking Corp. for violations of banking rules in connection with the $81 million theft of Bangladesh Bank reserves. The amount is the largest fine meted out to a lender by the Bangko Sentral ng Pilipinas, it said, without detailing the violations committed by ...

  Bloomberg New York’s top banking regulator asked Goldman Sachs Group Inc. to supply more information about its work for a Malaysian investment fund amid investigations into whether any money laundering, sanctions violations or other misconduct occurred. Maria Vullo, the head of New York’s Department of Financial Services, asked in a letter Thursday for a meeting with bank officials by ...

  Bloomberg Bank of America Corp., which spends about $1 billion a year handling cash, will save money and require fewer employees as more customers make payments electronically, Chief Executive Officer Brian Moynihan said. “This is just the reality: the more electronification, the less people,” Moynihan, 56, said in an interview on Bloomberg Television. “It’s the way we’ve gone from ...

  Bloomberg Ratings for Nova Ljubljanska Banka d.d., Nova Kreditna Banka Maribor d.d. and Abanka d.d may be raised by Moody’s Investors Service as Slovenia’s economy gathers strength, improving lenders’ funding conditions following a reduction in wholesale borrowing. All long-term ratings and rating inputs of Nova Ljubljanska and Abanka d.d. were placed on review for upgrade while the long-term deposit ...

  Bloomberg Societe Generale SA, France’s second-largest bank, reported second-quarter profit that beat analyst estimates, capping a string of positive results for the country’s lenders. Net income rose 8 percent to 1.46 billion euros ($1.6 billion) from a year ago, the Paris-based bank said in a statement. That beat the 1.36 billion-euro average estimate of six analysts compiled by Bloomberg. ...