Bloomberg Oil prices declined for the week, as expanded US drilling activity and added production offset a larger-than-expected drop in stockpiles. Futures fell 3.9 percent, even after US data showed the nation’s crude stockpiles dropped by 6.3 million barrels, three times as much as expected. US drillers went back to adding rigs this week, after breaking a record streak of ...

Bloomberg Hungary sees a new pipeline for Russian gas as the “only realistic” step toward energy diversification now, Foreign Minister Peter Szijjarto said on the same day Poland used a visit by US President Donald Trump to announce plans to wean itself off fuel supplies from its Soviet-era master. Hungary signed an agreement this week with Russian energy giant OAO ...

Bloomberg Ukraine is talking to one of France’s largest energy companies about building a giant, billion-euro ($1.25 billion) solar park in the uninhabited radioactive zone surrounding the abandoned Chernobyl nuclear reactor. Engie SA is beginning a pre-feasibility study funded by the French government next week with the results expected for the end of the year, Ukraine’s minister of ecology, Ostap ...

Bloomberg Berkshire Hathaway Inc. may face a challenge from bondholders led by Elliott Management Corp. to its $9 billion all-cash deal for Texas utility Oncor Electric Delivery Co. Billionaire investor Paul Singer’s Elliott, the biggest creditor of Oncor’s bankrupt parent Energy Future Holdings Corp., may seek to put together a rival bid, according to a person with knowledge of the ...

Bloomberg Australia wants more from its $68 billion investment in new ships and submarines than just a more capable navy. With final bids due this month on a A$35 billion ($27 billion) contract for nine anti-submarine frigates, Defence Industry Minister Christopher Pyne said Australia is seeking a bigger role in naval shipbuilding. “From an industrial point of view, it’s a ...

Bloomberg China’s bond investors are being given the chance to ratchet up leverage once again, but they may not want to. Months of scarcity have given way to a mysterious rush of liquidity in China’s financial system, with money-market rates back near levels seen in April. The market has responded accordingly, with bonds rallying in the last two weeks of ...

Bloomberg Chinese bike-rental startup Ofo Inc. raised more than $700 million in its latest funding round to expand its business globally amid rising domestic competition with Beijing Mobike Technology Co. and more than a dozen rivals. The series E round is led by billionaire Jack Ma’s Alibaba Group Holding Ltd., Hony Capital and Citic Private Equity, according to an emailed ...

Bloomberg Japan’s economy is running the hottest relative to capacity since the global financial crisis. More than four years after the Bank of Japan launched its radical monetary easing, key conditions are aligning in its long battle to truly escape from deflation. The latest reading of the nation’s output gap is another milestone on the journey to that escape, economists ...

Bloomberg Singapore’s luxury home prices, which have been the worst hit by the government’s property curbs in recent years, are finally showing signs of a recovery, according to developer Guocoland Ltd. High-end home sales in the city-state had been on an upswing even before the government in March eased some of its cooling measures in place since 2009, according to ...

Bloomberg World leaders reached a compromise on trade at the Group of 20 summit as officials agreed to fight protectionism while tacitly recognizing US President Donald Trump’s concerns about excess steel capacity and what he says are unfair trade practices. Hours after the agreement was struck early on Saturday, the final statement nonetheless left the U.S. isolated on climate change, ...