Bloomberg Axeon Specialty Products LLC is shuttering the US largest asphalt refinery when the country might need it the most. The Stamford, Connecticut-based company announced last month it plans to close its Paulsboro, New Jersey, refinery, and convert it into a terminal. The planned shutdown comes as President Donald Trump has pledged to build new roads, highways and bridges …

  Bloomberg Oil capped a third weekly gain as the US imposed fresh sanctions on Iran after a missile test and OPEC reached about 60 percent of its output-cut target. Futures climbed 0.5 percent in New York. The new restrictions were announced as President Donald Trump seeks to punish Tehran for its ballistic missile program after warning the Islamic Republic …

  Bloomberg Williams Cos. won US approval to build its $3 billion Atlantic Sunrise natural gas pipeline expansion in the Northeast, ending a review that ran almost two years and forced delays in the project. The 200-mile (322-kilometer) pipeline will expand shipments from shale formations by enough to serve 7 million homes, according to Williams. The Federal Energy Regulatory Commission …

  Bloomberg Vivint Solar Inc. is getting back to its roots. This time last year, the Blackstone Group LP-backed rooftop solar installer was trying to close its proposed acquisition by SunEdison Inc., then the world’s largest clean-energy company. Now, 11 months after that deal fell apart, it’s again partnering with sister company Vivint Smart Home. Chief Executive Officer David Bywater …

  Bloomberg The $3.8 billion Dakota Access crude oil pipeline may start operating June 1, assuming no new obstacles prevent it, according to a person familiar with the matter. Energy Transfer Partners LP, the developer of the pipeline, will begin filling it with oil around February 15, barring complaints or legal action to stop it, said the person, who asked …

  Bloomberg If Donald Trump slapped China with punishing tariffs, the pain would also be felt by Japan, South Korea and Taiwan, vital cogs in a regional supply chain that allows China to build widgets and gadgets for the world. But Asia boasts a fast-growing middle class now numbering in the hundreds of millions, meaning China and other regional exporters …

  Bloomberg Jindal Steel & Power Ltd., seeking to cut debt after eight straight quarters of losses, is in talks with companies including billionaire Gautam Adani’s Adani Power Ltd. about selling a 2,400-megawatt Indian electricity plant, people with knowledge of the matter said. The New Delhi-based company has been in discussions about selling the plant to Adani Power as lenders …

  TOKYO / AP Tokyo-based Honda Motor Co. reported a 36 percent jump in profit for October-December on year, shrugging off damage from a strong yen, and the Japanese automaker raised its full year forecast. Cost cuts lifted fiscal third quarter profit to 168.8 billion yen ($1.5 billion), up from 124.1 billion yen the previous year. Also helping was the …

  Bloomberg Hyundai Motor Co, South Korea’s biggest automaker, plans to partner with billionaire Mohammad Mian Mansha’s Nishat Mills Ltd. to start assembling cars in Pakistan as vehicle sales accelerate in the $271 billion economy. Nishat Mills’ venture, which includes Hyundai and Sojitz Corp., will assemble passenger and one-ton commercial vehicles in Pakistan, the company said in a stock exchange …

  Bloomberg Costly delays, growing complexity and new safety requirements in the wake of the triple meltdown at Fukushima are conspiring to thwart a new age of nuclear reactor construction. So-called generation III+ reactors were supposed to have simpler designs and safety features to avoid the kind of disaster seen in Japan almost six years ago. With their development, the …