Bloomberg A unit of Petroleos de Venezuela SA (PDVSA) sued the US to recover more than $640 million in excise taxes it says it overpaid on environmentally friendly fuels. PDV Holding Inc, the subsidiary of Venezuela’s national oil company, claims it improperly calculated tax credits and overpaid from 2005 to 2011. The company, which filed the lawsuit in federal court ...

Bloomberg Cenovus Energy Inc agreed to buy Husky Energy Inc in an all-stock deal valuing Husky at about C$3.8 billion ($2.9 billion), creating Canada’s third-largest oil and natural gas producer. The deal promises to combine two of the largest players in Canada’s oil sands at a time that valuations have crumbled in the sector. Even before this year’s oil-price slump, ...

In the final debate, both President Donald Trump and former Vice President Joe Biden expressed openness to a $15-per-hour national minimum wage. Biden seems all for it, and Trump indicated it may be a good idea for some states. They both know that raising the wage level is a popular idea among Republicans as well as Democrats, if polls are ...

When it comes to Boeing Co’s 737 Max, things can always get worse. American Airlines Group Inc and Southwest Airlines Co added to a chorus of order deferrals and cutbacks for the embattled jet, which has been grounded for more than 18 months following two fatal crashes. American has deferred delivery of 18 Max jets that were meant to be ...

After months of extreme disruption and challenge, retailers badly need their holiday season to go right. Unfortunately, they might find themselves confounded by a thorny problem borne of pandemic-related safety concerns: A crush of e-commerce orders on a scale the industry has never seen, putting stress on their supply chains and those of their shipping partners. The result could be ...

Six years ago Scotland voted by a 10-point margin to stay part of the UK. Yet the last nine consecutive opinion polls show the backing for leave as high as 58 per cent, and averaging at 53 per cent. This sustained lead for independence spells trouble for Boris Johnson’s government, which fears demands for a second referendum will become overwhelming. ...

Bloomberg Hong Kong’s exports rebounded in September on the back of a recovering Chinese economy, Financial Secretary Paul Chan said his blog post on Sunday. The city’s third-quarter gross domestic product should show a significant improvement from the two preceding three-month periods, Chan said. Hong Kong’s GDP slumped by about 9% in both the first and second quarters as the ...

Bloomberg Singapore is seeking to reduce the amount of time it takes to regularly check migrant workers for coronavirus infection by piloting the use of antigen rapid tests. For a period of four weeks, a group of 1,000 migrant workers will undergo antigen rapid testing every seven days, the Ministry of Manpower said in a statement. That’s in addition to ...

Bloomberg The Malaysian Estate Owners Association says new virus-related restrictions on palm operations will cause potential losses of as much as 900 million ringgit ($217 million) a month to the oil palm sector in the state of Sabah. If the entire oil palm supply chain in Sabah is constrained by a recent order to operate at 50% capacity, the state ...

Bloomberg Holding companies controlled by energy-to-mining tycoon Anil Agarwal face the highest debt repayments in several years just as credit rating firms step up warnings. Vedanta Ltd holding companies Vedanta Resources Ltd and Volcan Investments Cyprus Ltd must repay a combined $1.17 billion next year. That’s the most since 2017, according to data compiled by Bloomberg. A Vedanta Resources bond ...