Bloomberg Tata Steel Ltd’s Indian steel output rose to a record in its latest financial year thanks to its 2018 acquisition of Bhushan Steel Ltd assets, potentially making Tata the country’s biggest producer. Production rose 35 percent to 16.79 million tons in the year ended March 31, as Bhushan Steel added 4.2 million tons to output, the Mumbai-based company said ...

Bloomberg South Sudan tripled the amount of oil it’s providing to the Export-Import Bank of China to fund the nation’s biggest infrastructure-development project. The East African country will provide 30,000 barrels per day of crude to the state-owned lender, up from 10,000 barrels it agreed in February, Information Minister Michael Makuei Lueth told reporters in the capital, Juba. The country ...

Bloomberg Samsung Electronics Co reported its worst operating-profit drop in more than four years, buffeted by falling memory-chip prices and slowing smartphone sales. Operating income fell 60 percent to about 6.2 trillion won ($5.5 billion) in the three months ended in March, according to preliminary results released from the Suwon, South Korea-based company. That was the biggest decline since a ...

Bloomberg Officials of top palm oil growers Malaysia and Indonesia will visit Brussels next week to voice their objection to the European Union’s delegated act that restricts the use of the edible oil in biofuel, according to a statement from Malaysia’s Ministry of Primary Industries. A joint mission from Malaysia and Indonesia, which together supply about 85 percent of the ...

Bloomberg Embattled Canadian engineering firm SNC-Lavalin Group Inc. agreed to sell a 10 percent stake in a Toronto-area toll highway for as much as C$3.25 billion ($2.43 billion), stepping up efforts to bolster its balance sheet after two profit warnings and an ongoing political controversy battered its shares. The sale to OMERS Infrastructure pension fund will reduce SNC’s stake in ...

Bloomberg BMW AG said it’s likely to take a charge exceeding 1 billion euros ($1.1 billion) related to the European Union’s investigation into German automakers allegedly colluding to delay the rollout of cleaner-emission cars. The provision will drag on first-quarter financial results and reduce automotive profit margin this year to as low as 4.5 percent, according to a statement. BMW ...

Bloomberg Tradeweb Markets Inc. raised $1.1 billion in the second-largest US initial public offering this year, after again increasing the number of shares it was selling and then pricing them above the marketed range. The bond and derivative trading platform sold 40 million shares for $27 apiece, according to a statement. Tradeweb had originally planned to sell 27.3 million shares ...

Bloomberg Tesla Inc. shares plummeted as a record decline in deliveries during the first quarter stoked concern of slackening demand for the Model 3 sedan that started selling less than two years ago. The electric-car maker delivered 63,000 vehicles in the three months that ended in March, down from 90,966 in the fourth quarter. Tesla shares sank as much as ...

Bloomberg Forces loyal to the internationally recognised government in Tripoli conducted air strikes to try to halt a march on the capital by strongman Khalifa Haftar’s troops, officials said. Fighter jets struck positions near Tripoli held by Haftar’s self-styled Libyan National Army on Friday and on Saturday, LNA media official Aguila Saber and local city official Hamed al Nuwaiser said. ...

Bloomberg President Donald Trump said the US is “full,” and can’t accommodate any more migrants from Latin America, capping a week of heated threats against Mexico over undocumented migration and the flow of illegal drugs. “Our country is full. Our area is full. The sector is full,” Trump said at a briefing on border security in Calexico, California. “Can’t take ...