Bloomberg U.S. drivers are burning gasoline at a record pace as they take advantage of the lowest prices at the pump in more than a decade this summer. Consumption has risen 3.9% from a year ago, while the average retail price for the motor fuel has tumbled 17%, according to data released by the Energy Information Administration and AAA. …

  Bloomberg Ahmad Chatila, chief executive officer of bankrupt clean-energy giant SunEdison Inc., resigned on Weddnesday. SunEdison appointed John Dubel, the company’s chief restructuring officer since late April, to replace Chatila, according to a statement on Wednesday. Dubel joined SunEdison shortly after it filed for bankruptcy protection, listing $16.1 billion in liabilities. Chatila was the architect of a massive clean-power …

Bloomberg Twilio Inc., the maker of mobile and web applications backed by Bessemer Venture Partners, raised $150 million in its initial public offering, pricing the shares above the marketed range. The San Francisco-based company priced 10 million Class A shares at $15 each, according to a statement on Wednesday, after offering them for $12 to $14 apiece. The shares will …

  In opening up sectors from aviation to defense to 100 percent foreign ownership this week, India’s government is clearly hoping to signal that its reform drive is revving up again. Next on the agenda may be one of the most far-reaching new measures in years: a long-awaited, nationwide goods-and-services tax, or GST. India’s Aspirations Sceptics have reason to roll …

  Since the middle of 2014, cyberattacks by China-based hacking groups against the U.S. government and private sector have declined, according to a June 2016 analysis by the U.S. cybersecurity firm FireEye. A FireEye team reviewed the activities of 72 hacking groups purportedly operating out of China or supporting Chinese state interests from the beginning of 2013 to June 2016. …

  Shah Meer SPECIAL TO EMIRATES BUSINESS The China-Pakistan Economic Corridor (CPEC) has attracted attention all over the world. Politicians and analysts say CPEC will reshape the geopolitics of the region and bring unprecedented economic development to Pakistan. For China, CPEC is a vital part of its much larger One Belt, One Road (OBOR) initiative, a game-changing project which aims …

  London / Agencies Tesco Plc reported a second straight quarter of UK sales growth, the first time it’s done so in five years as the grocer’s turnaround gathers momentum. Excluding fuel, UK same-store sales rose 0.3 percent in the 13 weeks to May 28, Britain’s largest retailer said on Thursday. That compares with the median of 13 analysts’ estimates …

  Hanoi / Tribune News Service The opening of direct flights between India and Laos aims to enhance people to people contacts between the two Asian neighbours. Lao News Agency recently quoted India’s ambassador to Laos, Ravi Shankar Aisola as saying the direct flights between India and Laos were in the final stages of approval and very soon there would …

  Berlin / Bloomberg Frankfurt airport is investing 100 million euros ($113 million) in a series of upgrades that includes yoga rooms, playgrounds and a forest-like recreation area to make passengers more comfortable and hence more willing to spend money at the shops. Airports around the world have increasingly transformed into family-friendly malls to lift earnings amid restrictions and competition …

  New York / AFP The Solar Impulse 2 landed in Spain on Thursday morning after completing a 70-hour flight from New York in the first solo transatlantic crossing in a solar-powered airplane. Applause broke out as the experimental plane set down at Seville airport in southern Spain just before 7:40 am (0540 GMT) where a team was on the …