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Bloomberg Oil climbed to near a five-month high after an industry report pointed to a third straight weekly drop in American crude stockpiles. Futures in New York rose past $42 a barrel after losing 0.8% Tuesday. The American Petroleum Institute reported inventories fell by 4.01 million barrels last week. The improving picture in the US overshadowed lingering concerns about the …

Bloomberg Brookfield Asset Management Inc’s infrastructure arm is in talks to acquire Blackstone Group Inc’s minority stake in liquefied natural gas terminal operator Cheniere Energy Partners LP, according to people familiar with the matter. The alternative asset manager is working with a partner to acquire Blackstone’s interest, said the people, who asked to not be identified because the matter isn’t …

Bloomberg Shanghai Aiko Solar Energy Co will invest 20 billion yuan ($2.87 billion) to build photovoltaic cell manufacturing plants in Zhejiang province, according to an agreement between the company and the local government. The facilities will have total annual capacity of 36 gigawatts and construction will last for seven years, the company said in a filing to Shanghai stock exchange. …

Bloomberg Cathay Pacific Airways Ltd shares extended their double-digit rally after a Chinese state-run newspaper tweeted that Hong Kong’s airport may restart transfer flights to mainland China, a move that could inject the beleaguered carrier with some much-needed travelers. Cathay climbed more than 13%, its biggest intraday gain in two months, as the Global Times said on Twitter that the …

Bloomberg British Airways (BA) said it reached a preliminary agreement with labour groups representing some ground-based employees as it seeks to cut costs and ride out a deep slowdown triggered by the coronavirus pandemic. BA has signed outline deals with the Unite and GMB unions that cover engineers and customer-facing staff at its London Heathrow hub, Chief Executive Officer Alex …

Bloomberg Rolls-Royce Holdings Plc warned of a new manufacturing defect after finding cracks in turbines that power Airbus SE’s A350 jet, an unwelcome development after years of engine problems racked up billions in costs. The glitch concerns compressor blades on XWB engines in service on the A350 for four or five years, Rolls-Royce said in a statement. It said the …

Bloomberg Bankrupt Brooks Brothers Group Inc is on the verge of being sold to a partnership that includes the new owner of Barneys New York and one of the biggest US mall operators. Sparc Group which is backed by Authentic Brands Group and Simon Property Group Inc, is expected to be the winning bidder after rivals including WHP Global dropped …

Bloomberg Canada Goose Holdings dropped as much as 9% after the company said activity was slow in its reopened stores, raising concerns about demand ahead of the key winter season. The company said it will focus new store openings this year on mainland China, “where the recovery of traffic remains ahead of other markets.” The height of the crisis hit …

Bloomberg London’s Heathrow blamed the UK government for July traffic figures that show scant evidence of a recovery in demand at what’s normally Europe’s busiest travel hub. The imposition of a 14-day quarantine for people arriving from countries with high Covid-19 infection rates means Britain is effectively cut off from markets including the US, Canada and Singapore, Heathrow said in …

Bloomberg The fortunes of India’s shadow lenders are showing signs of turning, suggesting stimulus measures from policy makers will help the troubled sector weather some of the fallout from the pandemic. Premiums that investors seek to buy AAA rated five-year bonds of non-bank lenders over similar-maturity government notes narrowed the most last month since at least 2012, helping a gauge …