Bloomberg It’s gone from a dearth to a glut of oil pipeline projects competing to serve slowing production growth in the Permian Basin. Five new oil pipelines are set to open in the Permian Basin through 2021, expanding a gap between production and takeaway capacity that’s already forcing companies to cut fees and could mean lower profits and cutthroat competition ...

Bloomberg South African power utility Eskom Holdings SOC Ltd, which generates about 95% of the country’s electricity, extended power cuts that started on January 4 until Monday after a conveyor belt failure at its Medupi plant — just as Andre de Ruyter officially takes over as head of the cash-strapped company. Eskom extended stage 2 load-shedding, the local term for ...

Bloomberg High-beta stocks, occupants of the market’s frenetic edge, were the names everyone wanted to own in the fourth quarter, when they rallied on signs of peace. Saviours of active funds, the high-beta group — defined as companies that do a little better or a little worse than standard benchmarks — annihilated all comers over the last three months of ...

Bloomberg The dollar had an awful December and things may only get worse. That’s the view of a growing number of fund managers and strategists including those at M&G Investments Ltd, Brandywine Global Investment Management and ABN Amro Bank NV. A truce in the US-China trade war, improving global growth and a shrinking yield premium on US Treasuries will undermine ...

Bloomberg Bitcoin’s not yet having a happy new year. A sell-off in the largest digital token pushed the price below $7,000 on January 2. Bitcoin dropped as much as 4% to fall to its lowest level since mid-December, according to Bloomberg data. Bitcoin is coming off an eye-catching 2019, which saw it gain close to 95% despite repeated bouts of ...

Bloomberg Hudson’s Bay Co chairman Richard Baker raised his offer to take the struggling retailer private, handing a victory to minority shareholders including Catalyst Capital Group Inc that fought to derail the original bid. Hudson’s Bay said in a statement it agreed to a new bid by Baker and a group of allies, who together control the company. The offer ...

Bloomberg Just before Christmas last year, a trip to Nintendo Co’s flagship store in Tokyo would have required an hour’s wait just to get in and buy a plush Mario toy or a set of chopsticks bearing Luigi’s face. Opened in November on the sixth floor of the renovated Shibuya Parco shopping mall, the constantly packed 300-square-metre showcase exhibits the ...

Bloomberg The number of fatal aviation accidents in 2019 rose above the five-year average to 20, with more than half occurring in North America, the Aviation Safety Network said. The 20 crashes killed 283 people, with the bulk of the deaths coming from the Ethiopian Airlines disaster in March, when a Boeing Co 737 Max jet plunged into the ground ...

Bloomberg Inspectors at a Japanese airport didn’t conduct X-ray checks on large cases before they were loaded onto a private jet that’s thought to have carried Carlos Ghosn as the former Nissan Motor Co chief executive officer escaped to Turkey, NHK reported on Sunday. Kansai International Airport inspectors didn’t examine the cases as they were too big to fit into ...

Bloomberg Hong Kong’s retail sales posted another double-digit decline in November as visitor arrivals to the financial centre plunged. Retail sales by value retreated 23.6% in the month from a year earlier, extending the run of declines to ten months. The decline in November was slightly better than economists’ expectation and the record contraction in October. By volume, sales contracted ...