Bloomberg Meituan is the kind of Chinese technology company few people outside the country understand. That’s because its services aren’t quite like anything you might find abroad. Meituan has a restaurant review feature sort of like Yelp, but its app also lets you order off the menu from your phone the minute you sit down. You can settle your check …

Bloomberg Flying cars will be zipping across US skies within the coming decade—at least that’s what Uber Technologies’ CEO Dara Khosrowshahi predicts. “There will be people flying around Dallas, Texas,” Khosrowshahi said at the DLD tech conference in Munich. “I think it’s going to happen within the next ten years.” Back down on the ground, the Uber CEO cited congested …

Bloomberg After Erin Hiscock’s mother and brother passed away, she resolved to tackle her own weight problem. “I was maybe 310 pounds at my heaviest and severely addicted to sugar,” she says. “Instead of a normal meal, I’d just eat carbs, sugar, nothing nutritious.” Hiscock, a 35-year insurance agent in Virginia, didn’t turn to diet books, Weight Watchers, or even …

Bloomberg Saudi Aramco’s trading unit started swapping the kingdom’s crude oil for products refined in other countries, allowing the company to tap new markets, according to its chief executive officer. The company has supplied crude to refiners in the Mediterranean region and gotten fuel in return, Ibrahim Al-Buainain, chief executive officer of Saudi Aramco Products Trading Co., said by phone. …

DAVOS / Reuters US Energy Secretary Rick Perry told oil super-powers Russia and Saudi Arabia he believed US shale oil boom would not become a spoiler for oil markets because new production would be absorbed by fast rising global demand. Perry, a former governor of Texas, the heartland of the US shale oil boom, was speaking at a rare joint …

BEIJING / Reuters Russia held firm as China’s top crude oil supplier in December for the 10th month and racked up its second year as the largest supplier in 2017, customs data showed, leaving rival exporter Saudi Arabia in second place on both fronts. Exports from Russia hit 5.03 million tonnes in December, down 0.2 percent from a year earlier, …

Bloomberg Oil just got an extra tailwind from a weakening dollar as this month is shaping up to be the best January for black gold in 12 years. That’s because when the greenback is losing value, investors tend to flock to commodities as a store of value, and this is coming on the back of a record streak of declines …

Bloomberg Kuwait Foreign Petroleum Exploration Co. reduced its output target for oil and natural gas due to the drop in crude prices that started in 2014, Chief Executive Officer Sheikh Nawaf Saud Al-Sabah said. Kufpec, a unit of state-run Kuwait Petroleum Corp., revised its production goal for 2020 to 150,000 barrels a day of oil equivalent from 200,000 barrels a …

Bloomberg Iraqi Kurdistan-focussed Genel Energy expects oil and gas production to fall for a third year in 2018, it said, as it shifts its focus to two new gas fields. The decline in production is due to a continuing slide in output from the Taq Taq field, once considered Genel’s flagship field, after the well hit water in 2016. Genel’s …

Bloomberg European banks may have scored a victory in having the Basel III capital standards toned down, but that doesn’t mean they can rest on their laurels. There are more battles to come in 2018, in particular lobbying lawmakers on a series of measures designed to reduce risk in the system. The regulations are deemed a vital step towards the …