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April 14, 2019 Energy
Bloomberg The Trump administration is weighing a plan that could force some of the nation’s biggest oil companies to come clean about their bids to dodge US biofuel mandates. The Environmental Protection Agency said in a notice it was opening a 15-day window for the public to comment on whether it should reveal “basic information†about refineries seeking waivers from ...
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April 14, 2019 Energy
Bloomberg Brazilian Economy Minister Paulo Guedes said he’ll clear up any confusion from President Jair Bolsonaro’s decision to halt a planned fuel-price hike by Petroleo Brasileiro SA. When asked about Bolsonaro’s meddling in state-controlled Petrobras’ pricing policy this week, Guedes said he’d get more information when he returns home from Washington, where he’s been attending the spring meetings of IMF. ...
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April 14, 2019 International News, Uncategorized
Bloomberg Reliance Communications Ltd denied it received favourable treatment by France in settling a tax dispute at a time when it was negotiating to become Dassault Aviation SA’s partner for a contract to sell fighter jets to India. The Indian company, owned by former billionaire Anil Ambani, issued the denial after Le Monde newspaper reported that four years ago France ...
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April 14, 2019 International News
Bloomberg ArcelorMittal’s plan to buy a bankrupt Indian steel company for $6 billion was halted temporarily by the nation’s top court, further delaying tycoon Lakshmi Mittal’s efforts to enter the world’s second-biggest market. The Supreme Court ruled that Essar Steel India Ltd’s current status has to be maintained, pending a review by a bankruptcy tribunal hearing appeals related to the ...
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April 14, 2019 International News
Bloomberg China Three Gorges Corp is planning to scale back its 9.1 billion-euro ($10.3 billion) takeover offer for EDP-Energias de Portugal SA amid concerns about political hurdles and valuation, people familiar with the matter said. The state-owned firm is evaluating smaller alternative transactions that exclude US assets of EDP, which are the most likely to trigger regulatory opposition, the people ...
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April 14, 2019 International News
Bloomberg The US is open to facing “repercussions†if it doesn’t live up to its commitments in a potential trade deal with China, Treasury Secretary Steven Mnuchin said, in a sign that the two sides are edging closer to an accord. “There are certain commitments that the United States is making in this agreement, and there are certain commitments that ...
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April 14, 2019 International News, Uncategorized
Bloomberg India is witnessing a listless growth in electricity demand, possibly signalling more slowdown in Asia’s third-largest economy. Electricity requirement from distribution utilities in February rose 1.3 percent from a year earlier and barely changed from January’s 1.1 percent, the weakest growth in two years, according to the power ministry’s Central Electricity Authority. Data for power generation, a proxy for ...
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April 14, 2019 International News, Uncategorized
Bloomberg Publicis Groupe SA agreed to buy digital marketing firm Epsilon from Alliance Data Systems Corp. for $4.4 billion in cash, propelling the French advertising group further beyond a weakening conventional ad business in its biggest takeover yet. Epsilon’s services span loyalty programs to email marketing and its Conversant unit collects consumer data including transactions, location and web activity. The ...
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April 14, 2019 International News, Uncategorized
Bloomberg For all the ink spilled over climate change and the global energy transition, the world’s biggest energy companies are focusing on where it all began: American oil. Chevron Corp.’s $33 billion acquisition of Anadarko Petroleum Corp.will make the US company the largest producer in the dusty plains of the Permian Basin by giving it control of an oil-rich area ...
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April 14, 2019 International News
Bloomberg Investor unrest is increasing after Bayer AG sweetened Chief Executive Officer Werner Baumann’s bonus even as court battles over Monsanto’s Roundup weedkiller have destroyed billions in the company’s market value. Shareholder and corporate governance expert Christian Strenger, a former CEO of DWS Investment, filed a motion proposing that members of the supervisory board not be discharged of responsibility for ...
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