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Bloomberg Even though Beijing hasn’t sanctioned American oil imports yet, Chinese buyers aren’t taking any chances. The world’s second largest economy halted purchases of US crude in August for the first time since September 2016, according to US Census Bureau data. In July, Chinese buyers received nearly 12 million barrels of crude from the US. Beijing, once an enthusiastic buyer ...

Bloomberg Electrify America, created by Volkswagen AG as part of a settlement from the automaker’s emissions-cheating scandal, filed plans with California regulators to invest a second $200 million in electric car charging infrastructure. The investments will include deploying fast-charging stations in cities including Santa Cruz, Los Angeles and San Francisco, according to a statement Wednesday. Part of the money will ...

Bloomberg The European Union is set to offer the UK a free-trade deal deeper than any agreement that’s gone before, but will reject Prime Minister Theresa May’s demand for “frictionless trade,” according to EU diplomats. The EU’s vision for future ties with Britain will contain “about 30-40 percent” of May’s pitch for a wide-ranging trade and security deal, according to ...

Bloomberg Ford Motor Co. has told its 70,000 salaried employees that they will face unspecified job cuts as part of the automaker’s $11 billion restructuring, a bid to reverse its fading fortunes and cope with competitive pressures more nimbly. Morgan Stanley has speculated that Ford may pare more than 20,000 jobs from its global workforce of 202,000, but the automaker ...

Bloomberg Facebook Inc. has become the first big test case for the European Union’s beefed up privacy rules as Ireland’s data watchdog opened a probe into a security breach announced last week that affected as many as 50 million accounts. Ireland’s data protection authority said it has started investigating whether Facebook had “appropriate technical and organizational measures” in place to ...

Bloomberg HP Inc gave an upbeat profit forecast for fiscal 2019, signaling that the world’s largest maker of personal computers will continue to see robust demand for its growing product lineup. Profit, excluding certain items, will be $2.12 a share to $2.22 a share in the year that ends next October, the Palo Alto, California-based company said in a statement. ...

Bloomberg Economic data have returned to the forefront for investors in US Treasuries, and may be turning the market around. Ten-year Treasury yields staged their strongest single-day upswing since November 2016, driving the rate to the highest since 2011. The surge followed a record-high reading on activity in the US services sector and stronger-than-anticipated gains in a private employment survey. ...

Across the US Midwest, farmers are taking in their annual harvests of corn, soybeans and sorghum. This year, they have a special problem: Where to put it all? Grain storage levels already have been extraordinarily tight. For the past two years, about 73 percent of capacity was used up in the December peak season, when the three crops are newly ...

Within the space of little more than a year, the European Central Bank (ECB) will see two profound changes at its top. At the end of 2018, Daniele Nouy will step down as head of the Supervisory Board, the body in charge of overseeing the euro zone’s largest banks. Then, in the autumn, it’ll be Mario Draghi’s turn to leave ...

The jewel gathering dust in India’s bankruptcy court can have a suitor after all. The two top bidders may stay in the race for Essar Steel India Ltd.’s 10 million-tons-a-year plant, the country’s top court ruled, provided they first make banks whole. There’s the catch. For ArcelorMittal, the payment required is for two unconnected defaults. The world’s biggest steel producer ...