Bloomberg The US Supreme Court freed states and local governments to start collecting billions of dollars in new sales taxes from online retailers, overturning a ruling that had made much of the internet a tax-free zone and put traditional retailers at a disadvantage. News of the ruling caused shares of Internet retailers including Amazon.com Inc. and Wayfair Inc. to fall. …

Bloomberg Mubadala Petroleum on Wednesday announced that it has completed the acquisition from Italy’s Eni of a 10 percent participating interest in the offshore Shorouk Concession in Egypt, which contains the supergiant Zohr gas field. Following the completion, Eni, through its subsidiary IEOC, holds a 50 percent interest in the concession. The other partners in the concession are BP with …

Bloomberg French energy utility Engie SA faces a 120 million-euro ($139 million) tax bill after the European Union said it benefited from an unfair fiscal arrangement with Luxembourg. Concluding a state-aid probe into the tax affairs of Engie, the European Commission on Wednesday said Luxembourg selectively deviated from provisions of national law to help lower the tax bill for France’s …

Bloomberg The biggest US shale region will have to shut wells within four months because there aren’t enough pipelines to get the oil to customers, the head of one of the industry’s largest producers said. The worsening bottleneck in the Permian region that straddles west Texas and New Mexico offers an unexpected fillip to OPEC and other oil producers outside …

Bloomberg Copperbelt Energy Corp., the Zambian electricity supplier with customers including Glencore Plc’s copper mines, may invest as much as $250 million in solar projects and transmission lines in the neighboring Democratic Republic of Congo, Chief Executive Officer Owen Silavwe said. The amount includes two solar plants to generate 30 megawatts and 50 megawatts respectively, and the company is still …

Bloomberg US stocks were lifted by a rally in tech shares as concerns about a potential global trade war eased. Treasury yields edged higher and oil rallied. The S&P 500 was slightly higher after paring an early advance, while the Dow Jones Industrial Average slipped a seventh straight day. The Nasdaq Composite Index added to an all-time high, buoyed by …

Bloomberg Crude clung to gains after a larger-than-expected decline in US crude stockpiles heightened the importance of a key OPEC meeting later this week. Futures rose as much as 1.9 percent in New York on Wednesday. American oil inventories plunged by 5.91 million barrels last week, a bigger withdrawal than any of the 12 analysts in a Bloomberg survey expected. …

Bloomberg Sales of previously owned US homes unexpectedly fell in May for a second month as a lack of inventory and elevated asking prices weighed on demand, National Association of Realtors (NAR) data showed. The drop in sales was led by declines in purchases of single-family homes and cheaper properties, according to NAR, indicating that the market is being driven by …

Bloomberg Banks in the European Union won a battle to soften new rules on how failing firms are restructured, as the bloc’s parliament staked out its position on a sweeping overhaul of rules for the financial industry. Lawmakers backed a cap on the loss-absorbing liabilities that regulator can force troubled banks to hold. The ceiling could help to hold down …

Bloomberg Norway’s central bank is seen firming up plans to lift interest rates “after summer” as the richest Scandinavians leave their oil shock behind them. As Norway moves from a recovery to an outright expansion, policy makers in Oslo are becoming less focussed on the krone and are preparing to tighten ahead of colleagues in Frankfurt and Stockholm. “Norges Bank …