Bloomberg Five years after dodging a shutdown, the largest oil refinery on the East Coast is once again teetering on the brink. Sunoco Inc. and the private equity firm Carlyle Group LP formed Philadelphia Energy Solutions, a joint venture, in 2012 to rescue the refinery in an effort that also included $25 million in state aid. Now, after spending more ...

Bloomberg Aviva Plc and China Resources Power Holdings Co. are among companies considering bids for Statkraft AS’s stakes in its offshore UK wind farms, people familiar with the matter said, amid a surge in interest for Europe’s green energy assets. Macquarie Group Ltd. and Copenhagen Infrastructure Partners K/S are also weighing offers, the people said, asking not to be identified ...

Bloomberg Companies from Alibaba Group Holding Ltd. to China Life Insurance Co. will participate in a $11.7 billion share sale by China’s second-largest wireless carrier as part of a government push to draw private capital into its state-owned enterprises. According to the plan, investors including Tencent Holdings Ltd. and Baidu Inc. will purchase about 10.9 billion shares, or 35 percent, ...

Bloomberg Apple Inc. is making it harder for touts to profit from buying iPhones in Hong Kong only to sell them on the black market in China. From mid-August, all products bought online from Apple in Hong Kong will be ineligible for return or exchange unless they are defective, the company said on its website. Apple’s previous policy allowed 14 ...

Bloomberg India has banned the export of gold products with purity above 22 carats with immediate effect, a move that the industry sees as a way of curbing irregularities in the trade. The Directorate General of Foreign Trade issued a notice limiting shipments of jewelry, coins and medallions to 22 carats or below, without giving a reason. “The move may ...

Bloomberg A day after belatedly faulting white supremacists for deadly clashes in Virginia, President Donald Trump returned to his controversial position that there was “blame on both sides” for the weekend violence — remarks that caught his own aides off-guard. “You had a group on one side that was bad, and you had a group on the other side that ...

Bloomberg Martin Schulz, the former head of the European Parliament who is leading Germany’s Social Democratic Party into next month’s election, said that the UK government risks further complicating Brexit negotiations by producing a series of position papers for the talks. Schulz, who’s trailing in his race to unseat Chancellor Angela Merkel, also signaled he wants to keep her handling ...

TIKRIT / Agencies Seven Iraqi soldiers were killed on Wednesday when a suicide attacker tried to infiltrate a security headquarters near the northern city of Baiji where IS is entrenched in nearby mountain areas, security sources said. Around five assailants attacked the compound where police and army troops are based. One blew up his explosives vest at the entrance while ...

Bloomberg In a Nairobi slum named Lucky Summer, residents tell of being terrorized by men with dreadlocks wearing official Kenyan paramilitary uniforms who stalk the streets at night carrying machetes, clubs and guns. The troublemakers belong to the Mungiki, a criminal gang that played a key role in ethnic fighting that followed a contested 2007 vote and claimed at least ...

AMMAN / Reuters Jordan held local elections on Tuesday in a move officials say will help devolve some powers to larger cities and underdeveloped rural regions but which critics say falls short of promised wider political reform. The countrywide municipal vote – the first since 2013 – is a stated bid by the government to bring wider grassroots democracy that ...