March, 2018

• 28 March

  OPEC, Russia planning long-term oil alliance: Saudi crown prince

  

  NEW YORK / Reuters Saudi Arabia and Russia are working on a historic long-term pact that could extend controls over world crude supplies by major exporters for many years. Saudi crown prince Mohammed bin Salman told Reuters that Riyadh and Moscow were considering a deal to greatly extend a short-term alliance on oil curbs that began in January 2017 after ...

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• 28 March

  Aramco signs $10 billion worth of cooperation deals

  

  NEW YORK / WAM Saudi Aramco announced commercial cooperation worth over $10 billion with 14 American companies during Saudi-US CEOs forum in New York. Saudi Aramco on Wednesday participated in the event to promote bilateral business and cooperation between the two countries. The forum was scheduled to coincide with the official visit to the United States by Crown Prince Mohammed ...

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• 28 March

  CEFC’s $3.2bn property portfolio up for sale

  Bloomberg CEFC China Energy Co., the sprawling conglomerate that’s come under increasing government scrutiny, plans to sell its entire global property portfolio with a book value of more than 20 billion yuan ($3.2 billion), according to people with knowledge of the matter. Almost 100 properties are up for sale, including its headquarters in an upscale Shanghai neighbourhood, four floors of ...

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• 28 March

  Europe majors join race for Mexico oil bonanza in Gulf waters

  

  Bloomberg European oil majors are swarming the shallow-waters of the Gulf of Mexico as the country races to attract investment before an election. Anglo-Dutch giant Royal Dutch Shell Plc, the UK’s BP Plc, France’s Total SA, Italy’s Eni SpA, Spain’s Repsol SA, Russia’s Lukoil PJSC and DEA Deutsche Erdoel AG of Germany all won blocks — a number of them ...

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• 28 March

  Shale oil producer Concho buys RSP Permian for $8bn

  Bloomberg Concho Resources Inc. will buy rival shale oil producer RSP Permian Inc. in an $8 billion all-share deal, creating one of the largest producers in the region at the center of America’s energy boom. The deal is the biggest ever in the Permian Basin, topping Exxon Mobil Inc.’s acquisition of assets from the Bass family for as much as ...

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• 28 March

  Netflix, Amazon.com face retail sales tax crackdown in Quebec

  

  Bloomberg Quebec is getting serious about taxing Amazon.com Inc. and Netflix Inc. Canada’s second-most populous province said it would make the collection of the provincial sales tax mandatory for suppliers of goods and services based outside Quebec to put them on par with local rivals. Quebec expects the measures will enable it to recover C$155 million ($120 million) in lost ...

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• 28 March

  BMW sued in US over diesel emissions fraud

  

  Bloomberg BMW AG joined the growing list of carmakers sued by US drivers for installing software designed to cheat diesel-emissions tests. Drivers of “tens of thousands” of X5 and 335D model diesel cars built between 2009 and 2011 sued BMW and its technology supplier, Robert Bosch GmbH, alleging they installed algorithms designed to manipulate testing systems, using methods similar to ...

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• 28 March

  Melrose makes promises in last-ditch pitch for GKN

  Bloomberg Melrose Industries Plc made a last-ditch effort to allay concerns over whether it would be the right owner of GKN Plc as the battle for the UK engineering company takes on a political dimension a day before its 8 billion-pound ($11 billion) hostile offer runs out. “Melrose fully stands behind its plan to work for the improvement of not ...

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• 28 March

  UK’s tight labour market holds back growth: BOE

  Bloomberg UK companies are finding it harder and harder to hire the right people and it’s having an impact on the pace of economic growth, according to a Bank of England report. That’s bad news for the UK, which is already among the slowest-growing Group of Seven economies. It’s forecast to expand 1.5 percent this year and next, weaker than ...

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• 28 March

  Britain to hire 1,000 additional border staff to prepare for Brexit

  

  Bloomberg The UK plans to hire an extra 1,000 customs and immigration staff to ensure the security of the country’s border after Brexit. The extra workers will be funded from an additional 395 million pounds ($560 million) pledged to the Home Office, Philip Rutnam, the top civil servant at the department, told lawmakers on Parliament’s Home Affairs Committee on Wednesday. ...

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