April, 2017

• 2 April

  Airline price war puts China Eastern in firing line

  

    Airlines operate in such a brutally competitive market that it’s sometimes tempting to view them as an undifferentiated group. The most richly valued of the big three US carriers, United Continental Holdings Inc., trades on a forward price-earnings ratio of 9.8; the cheapest, Delta Air Lines Inc., is on 8.7. The clustering is even tighter in China, where Beijing-based ...

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• 2 April

  State oil firms stay in Alberta’s sands as Conoco, Shell exit

  

    Bloomberg Four years ago, Canada’s government tried to keep state-owned companies out of Alberta’s oil sands. Now, they may be around for a while. ConocoPhillips, Marathon Oil Corp. and Royal Dutch Shell Plc decided this month to sell most of their oil sands to Cenovus Energy Inc. and Canadian Natural Resources Ltd. That leaves firms such as China’s Cnooc ...

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• 2 April

  Cenovus to seek $1.35bn in asset sales for Conoco buy

    Bloomberg Cenovus Energy Inc. plans to raise about C$1.8 billion ($1.35 billion) from property sales as it seeks to offset the cost of its C$17.7 billion purchase of ConocoPhillips’ Canadian oil assets, according to people familiar with the matter. The Calgary-based producer has hired Bank of Montreal to advise on the sale of its Suffield oil and natural gas ...

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• 2 April

  Oil stockpiles drop on positive sign of OPEC cuts

  

    Bloomberg Crude stockpiles are starting to decline in a sign that the production cuts implemented this year are bringing the market to balance, according to OPEC’s Secretary-General Mohammad Barkindo. An overhang of an estimated 285 million barrels of oil in storage has been a drag on crude prices even as OPEC and some non-members producers curbed output. Six members ...

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• 2 April

  Iraq to boost crude oil production by year’s end

    BAGHDAD / AP Iraq’s oil minister said on Sunday that his country plans to increase daily crude oil production to 5 million barrels by the end of this year, up from the current rate of about 4.4 million barrels per day, to secure sorely needed cash for its ailing economy. Iraq, where oil revenues make up nearly 95 percent ...

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• 2 April

  MoneyGram deal threatened as lawmakers cite China risk

  

    Bloomberg Chinese billionaire Jack Ma’s latest US expansion plan is facing rising political obstacles. Two members of the House of Representatives urged the Committee on Foreign Investment in the US to conduct a “full and thorough” investigation of Ant Financial’s proposed acquisition of MoneyGram International Inc., a money-transfer service. “The proposal merits careful evaluation as it would provide Chinese ...

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• 2 April

  Rupee caps best Q1 since 1975 amid $12bn inflow

  

    Bloomberg Foreign investors gorging on Indian stocks and bonds propelled the rupee to its best first-quarter performance since 1975. The currency, Asia’s best performer this month, has rallied 4.7 percent since December 31 as a thumping win for Prime Minister Narendra Modi’s party in state elections boosted bets for continuation of his government’s reform agenda, luring overseas funds. The ...

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• 2 April

  Illinois to implement own internet privacy safeguards

  

    Bloomberg Democratic lawmakers in Illinois are considering implementing their own inter- net safeguards at the state level after Republicans in Washington voted to roll back Obama-era internet privacy protections that were to take effect later this year. An Illinois House committee endorsed two online privacy measures, including one that would allow people to find out what information companies such ...

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• 2 April

  Lidar: Laser sensing tech crucial for self-driving cars

  

    Bloomberg In the sixth grade, Austin Russell turned a Nintendo gaming handset into a cell phone. At 15, he built a holographic keyboard. By 17, he’d filed for a patent. Now at 22, he’s running a startup at the heart of Silicon Valley’s latest technology mania. As founder and chief executive officer of Luminar Technologies Inc., Russell and his ...

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• 2 April

  Microsoft opens first European lab for Internet of Things

  

    Bloomberg As Europe’s industrial companies attempt to modernize production with sensors and software, Microsoft Corp. is trying to grab a piece of the spending. The US software giant is launching a new lab in Munich — following openings in Redmond, Washington and Shenzhen, China — for customers investing in the so-called Internet of Things, the idea that everything from ...

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