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Bloomberg Uber Technologies Inc. shareholders agreed to sell a sizable stake in the ride-hailing leader to an investor group led by SoftBank Group Corp., allowing the Japanese conglomerate to amass a piece of the company at a steep discount to the last valuation. The transaction implies a $48 billion value for Uber, according to a person familiar with the deal. ...

Bloomberg Battery makers must rethink their technology if predictions for a wave of self-driving vehicles pan out, according to one of the inventors of the lithium-ion battery. In addition to focussing on making batteries more powerful to extend the driving range of single-owner cars, manufacturers will also need to develop devices that can withstand the rigors of near-constant driving and ...

Bloomberg About a decade after Chinese billionaire Li Shufu bought the Volvo Car nameplate from Ford Motor Co. and revived the brand, he’s turning his attention to the Swedish company’s heavy vehicles in a bid to bulk up outside China. Li’s Zhejiang Geely Holding Group Co. said it plans to buy a stake in Volvo AB from activist investor Cevian ...

Bloomberg The arctic blast that’s turning the northern half of the US into a giant icebox this week has been good news for oil and coal. Plants are using the most fuel oil in three years to produce the electricity that’s powering heaters across New England. In the PJM market, which stretches from Illinois to Washington, D.C., coal has once ...

Bloomberg Oil bulls are charging ahead with unprecedented vigor, and the credit goes to OPEC. The signs that the group is winning its tug of war with shale are compelling, and money managers have taken note: Their combined bets on rising prices for West Texas Intermediate and Brent crude reached record levels in December. “At least through the first half ...

Bloomberg Justin Trudeau wants to make reviews of pipeline and other major projects run on time as Canadian producers struggle to get oil to market. The federal government will propose new rules for regulatory vetting of all major development projects in 2018, shortly after parliament reconvenes on January 29, Natural Resources Minister Jim Carr said. Trudeau instructed his ministers two ...

Bloomberg The North Sea’s Forties Pipeline System — one of the world’s most important crude oil conduits — is fully back in business after being shut earlier this month due to the discovery of a hairline crack. “Ineos confirms the Forties Pipeline System is fully operational,” operator Ineos AG said in a statement. “All restrictions on the flow of oil ...

ALGIERS / Reuters Algeria needs to exploit its shale gas resources to offset a surge in local energy consumption that is eating into vital exports, but developing the industry will take time and require far-reaching reforms at the state energy firm. The North African country is a key gas supplier to Europe, but exports have suffered from delays to several ...

DUBAI / Agencies The death toll in a wave of protests that have agitated Iran over the past five days climbed, as security forces clashed with demonstrators rallying in a rare show of displeasure with the country’s leaders. As many as a dozen people may have died. Calls for more demonstrations raise the possibility of prolonged instability. “In the events ...

Bloomberg After a year filled with nuclear provocations that raised fears of a devastating war in Northeast Asia, North Korean leader Kim Jong Un started 2018 on an optimistic note. His call for talks to ensure the success of the Winter Olympics in South Korea next month — and improve overall inter-Korean relations — represented a tactical shift for a ...