Bloomberg China is upending the global plastics market. The world’s biggest user of scrap has stopped accepting shiploads of other countries’ plastic trash as it phases in a new ban. That’s bad news for the recycling industry, as China has been a major consumer of salvaged materials it processes into resin that ends up in pipe, carpets, bottles and other ...

Bloomberg Global stocks pared the worst of their losses after a selloff in Asia amid a broad risk-off mood. Treasuries rose with the dollar as investors’ focus turned to efforts to avert a US government shutdown . The S&P 500 fluctuated as software companies advanced and automotive stocks declined. The MSCI World index pared losses of 0.4 percent, with the ...

Reuters Most Middle Eastern stock markets fell on Wednesday because of sliding foreign bourses and negative geopolitical news related to Qatar and Yemen. Qatar was the hardest hit major market, with its index dropping 1.5 percent. Qatar National Bank, the biggest bank, tumbled 3.3 percent, while drilling rig provider Gulf International Services sank 6.5 percent. To prevent the switch, which ...

Bloomberg Investor exhaustion with poor returns from the oil and gas industry may mean less financing to expand the US shale boom next year, and less of a drive for consolidation. After nearing a record in 2016, equity issues from US oil and gas companies are on pace for an eight-year low this year, amid doubts about the stability of ...

Bloomberg First Solar Inc. took the wraps off its long-awaited Series 6 panel, but isn’t turning its back on the workhorse model that’s been sustaining the company. Unexpected demand for its Series 4 product boosted 2017 revenue, especially in the second half, and will help the company earn as much as $2.30 a share in a year when it had ...

Bloomberg Oil exploration in Norway’s Arctic seems to have lost some of its appeal after a disappointing drilling campaign. Only 11 companies applied for exploration licenses in the latest round — the nation’s 24th — which focused heavily on the Barents Sea, the Petroleum and Energy Ministry said in a statement on its website. That’s down from 26 in the ...

JUBA / Reuters South Sudan still owes neighbouring Sudan $1.3 billion from a 2012 deal that ended a dispute over oil payments between the two nations, the deputy finance minister told Reuters before he was sacked last week. The previously undisclosed amount is equivalent to eight years worth of oil revenues for South Sudan at current prices, according to former ...

Bloomberg Oil analysts have raised their forecasts for the crude price next year after major producers agreed to extend output cuts, a Reuters poll showed on Wednesday. Production disruptions in Libya and Nigeria and economic depression in Venezuela that has cut crude output will also support oil prices, the analysts said. Benchmark Brent crude futures are now forecast to average ...

Bloomberg Alibaba Group Holding Ltd.’s Jack Ma said China benefits from the stability of its single-party system, contrasting that with the unpredictability of US politics. The Chinese billionaire made the comments in response to a question about the country’s economy and its prospects for growth. He said he has confidence in China’s potential and cited as his number one reason ...

Bloomberg Go-Jek, Indonesia’s first billion-dollar tech startup, has a ‘set plan’ to become a listed company, Chief Executive Officer Nadiem Makarim said. “We are definitely going to IPO,” Makarim said at Bloomberg’s Year Ahead Asia Conference in Jakarta on Wednesday. The initial public offering is expected “hopefully within the next few years,” he said. Jakarta-based Go-Jek, backed by investors including ...