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Bloomberg China’s biggest energy company is backing away from direct purchases of Venezuelan crude as the Trump administration tightens sanctions against the South American nation. China National Petroleum Corp. has canceled plans to load about 5 million barrels worth of Venezuelan oil onto ships this month in the aftermath of the latest executive order by President Donald Trump, according to …

Bloomberg Total SA is committed to developing the Mozambique natural gas project that it will take over from Anadarko Petroleum Corp. as part of its expansion in Africa, the company said. The project, to cost as much as $23 billion to develop, will be Africa’s biggest single investment, and Mozambique is counting on it to transform the economy. The southeastern …

Bloomberg Facebook Inc has been paying hundreds of outside contractors to transcribe clips of audio from users of its services, according to people with knowledge of the work. The work has rattled the contract employees, who are not told where the audio was recorded or how it was obtained — only to transcribe it, said the people, who requested anonymity …

Bloomberg Bracing for a future with less-polluting fuels, Indian oil refiner Hindustan Petroleum Corp (HPCL) is planning a pilot programme for swapping batteries of electric two- and three-wheelers at its outlets by December, according to people familiar with the matter. The initiative is aimed at helping the company maintain its grip on a segment of the mobility market that’s rapidly …

Bloomberg Nvidia Corp’s second-quarter sales and profit topped analysts’ estimates, suggesting that a slump in orders may be easing amid a revival in demand for graphics chips. Revenue in the quarter that ended in July was $2.58 billion, and profit excluding certain costs was $1.24 a share, the Santa Clara, California-based company said. Analysts, on average, had estimated adjusted earnings …

Bloomberg Apple Inc accused upstart Corellium LLC of illegally selling virtual copies of the iPhone and iPad operating systems under the guise of helping discover security flaws. In a copyright-infringement lawsuit filed in West Palm Beach, Florida, Apple said the software company Corellium has copied the operating system, graphical user interface and other aspects of the devices without permission, and …

Bloomberg China’s central bank said it’ll start releasing a new reference rate for bank loans, a further step in a long-awaited reform to interest rates that’s set to bring lower borrowing costs to the economy. The People’s Bank of China will announce the new loan prime rate, (LPR), at 9:30 am on the 20th of every month, starting this month, …

Bloomberg Goldman Sachs Group Inc. slashed growth forecasts for the “Asian Tigers” as their exposure to the world economy — once one of their greatest strengths — is now backfiring as global growth slows amid trade tensions. “Besides their own domestic reforms, they all benefited enormously from the broader context of globalisation and the rapid economic development of the Asia-Pacific …

Bloomberg A 151-year-old Swiss bank is among the first wave of smaller lenders deploying robots for basic tasks to drive down costs and is considering expanding its use of the technology. After a successful test run, St. Galler Kantonalbank AG decided to employ three bots for jobs such as compiling information and using it to fill out forms. The company …

Bloomberg Banks across the globe have announced more than 48,500 job cuts this year as the outlook for the economy weakens. Nowhere was that more pronounced than in Europe, where lenders are bracing for a continuation of the negative interest rates that have eaten into their profits for the past five years. Germany’s troubled Deutsche Bank AG tops the list …