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Bloomberg Oil posted the biggest weekly rise in more than two months as shrinking stockpiles and supply disruptions from Canada to Libya compounded the growing isolation of OPEC’s third-largest oil producer. Futures advanced 8.1 percent this week in New York, above London-traded Brent crude’s gain of 5.1 percent. The world’s two most important oil benchmarks are diverging as Saudi Arabia’s …

Bloomberg Hong Kong will charge additional rates on unsold new apartments in a bid to limit hoarding by developers and cool a red-hot property market. Apartments left vacant for more than six months will be charged a 200 percent rate of the rental value, or equivalent to about 5 percent of the unit’s price, according to Chief Executive Carrie Lam, …

Bloomberg After several quarters on the bench, Nike Inc. has finally healed the damage inflicted by Adidas AG. Nike increased sales in North America for the first time in a year, after its smaller European rival had been outmaneuvering the sneaker giant on its home turf. Nike’s improved performance, sparked by new products and a smartphone shopping app, unleashed a …

Bloomberg Indonesia’s Bali airport resumed services after a halt caused by a fresh eruption at the Mount Agung that sent volcanic ashes several miles high into the sky above the popular tourist island. The airport opened at 2.30 pm local time on June 29, according to its twitter feed. The shutdown, the second in seven months, led to cancellation of …

Bloomberg China Southern Airlines Co. will invest 10 billion yuan ($1.5 billion) in Xiongan, the new city spearheaded by Chinese president Xi Jinping that aspires to be a model for China’s future urban development. The airline operator will allocate 2.5 billion yuan in cash and 7.5 billion yuan in tangible assets to set up a subsidiary called China Southern Airline …

Bloomberg Buckle up. The Friday before July 4 may approach a record for the busiest day ever for US airports, the head of Transportation Security Administration (TSA) said. Traffic for the day could top 2.6 million passengers, making it “potentially one of the busiest in TSA history,” TSA administrator David Pekoske said. TSA says nine of the top 15 days …

Bloomberg London Heathrow’s controversial third runway fits within Britain’s plan for reining in fossil-fuel emissions, according to the government’s Committee on Climate Change. “Another runway at Heathrow could be accommodated within those parameters,” said John Gummer, chairman of the committee. Modern technology “ought to give elbow room for about a 60 percent growth in demand,” he said at a briefing …

Bloomberg Apple Inc. will soon land a second supplier for the organic light-emitting diode screens used in high-end iPhones, according to people familiar with the matter, a key step in the US company’s push to reduce iPhone costs and its dependence on Samsung Electronics Co. South Korea’s LG Display Co. will initially supply between 2 million and 4 million units, …

Bloomberg Tsinghua Unigroup Ltd., the state-linked Chinese technology giant, is in advanced talks to acquire French smart-card components maker Linxens, people familiar with the matter said. The Beijing-based company could announce an agreement with Linxens’s owner, private equity firm CVC Capital Partners, as soon as the next couple weeks, according to the people. Tsinghua Unigroup has been discussing a potential …

Bloomberg South Korea’s dominant message-app operator is considering a private placement next month to raise funds from partners interested in helping to build its crypto platform. Ground X Corp., a blockchain subsidiary of Kakao Corp., may initially seek capital and business alliances with consumer-service companies, Jason Han, the unit’s chief executive officer, said in an interview. Ground X is targeting …