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Bloomberg Penn Virginia Corp. has reached out to potential buyers including Hilcorp Energy Co. and WildHorse Resource Development Corp. ahead of a sale process slated to start next month, according to people familiar with the matter. The Houston, Texas-based company will open a data room and solicit initial bids in September, said the people, who asked to not be identified ...

Bloomberg Ford Motor Co. is canceling plans to import a new crossover model from a plant in China after President Donald Trump’s tariffs undermined the business case for bringing the vehicle to the US market. Trump’s move to slap China-built autos with an additional 25 percent levy in July undermined the profitability of the Focus Active that Ford planned to ...

Bloomberg The opening of the Elizabeth Line, the 15 billion-pound ($19.5 billion) London railway that will connect Heathrow Airport to Canary Wharf, has been delayed by at least nine months to allow for more safety testing. The start date for the initial phase of service, previously set for December, has been moved to autumn 2019, the line’s builder said. Construction ...

Bloomberg The breadth of wealth inequality in the UK was laid bare in new analysis published on Saturday. While the divide is most pronounced in London, where richer households are now 24 times wealthier than poorer ones, other regions have experienced a similar trend since the global financial crisis, according to the Resolution Foundation. The value of household assets such ...

Bloomberg The European Union should scrap twice-yearly time changes and keep its clocks on what is currently summertime, said the bloc’s executive arm. On August 31, the European Commission unveiled the results of a public consultation on the merits of the decades-old practice of capitalising on natural daylight by putting clocks forward by 60 minutes between late March and late ...

Bloomberg Uber Technologies Inc. and its former Chief Executive Officer Travis Kalanick defeated a lawsuit claiming the company swept illicit business practices under the rug that cost investors billions of dollars. US District Judge Haywood S. Gilliam Jr. in Oakland, California, agreed with Uber’s and Kalanick’s bid to toss the class-action claims by a Texas city’s firefighter pension fund while ...

Bloomberg Salesforce.com Inc. shares fell after the maker of cloud-based software gave a disappointing profit forecast and reported a closely watched sales metric that failed to satisfy Wall Street’s lofty expectations. Profit, excluding certain items, will be as much as 50 cents a share in the current quarter, the San Francisco-based company said. That compared with analysts’ average estimate of ...

Bloomberg Nearly 700,000 undocumented immigrants brought to the US as children won another ruling preserving their protection from deportation, though the Texas judge who sided with them cast serious doubt on the legality of the so-called Dreamer programme. US District Judge Andrew Hanen in the border town of Brownsville ruled that Texas Attorney General Ken Paxton waited too long to ...

Bloomberg George Papadopoulos, a foreign policy adviser to Donald Trump’s presidential campaign and one of the first people charged in Special Counsel Robert Mueller’s investigation of Russian meddling in the 2016 election, doesn’t deserve to go to jail, his lawyers said. Defense lawyers told the judge who will sentence Papadopoulos that “his motives for lying to the FBI were wrong-headed ...

Bloomberg Brazil’s imprisoned Luiz Inacio Lula da Silva has been banned from running for president in October after months of commotion that had tainted what is already the most unpredictable election in decades. In a 6-1 ruling, the country’s top electoral court decided that Lula’s candidacy cannot stand, given his 12-year sentence for corruption and money-laundering by an appeals court ...