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BEIJING / Reuters Russia held on to its position as China’s top crude oil supplier ahead of Angola and Saudi Arabia for the seventh straight month in September, with shipments hitting a record as refiners rushed to buy lower-sulphur oil to meet cleaner fuels standards. Imports from Russia last month were almost 6.35 million tonnes, or 1.545 million barrels per ...

Bloomberg Infosys Ltd. slashed its annual revenue forecast, as the Indian software outsourcing giant deals with the aftermath of a boardroom coup that forced out its top executive. The software exporter is now forecasting 6.5 percent to 7.5 percent growth in revenue in the year ending March in US dollar terms, versus the 7.6 percent rise analysts were anticipating. That ...

Bloomberg The distributor of Nike Inc.’s Converse brand in Thailand is hopeful of a revival in consumer spending once a yearlong mourning period for King Bhumibol Adulyadej ends on October 29. Whether Rich Sport Pcl Chief Executive Officer Papitch Wongpaitoonpiya is proved right will help to determine the strength of a rebound in the Thai economy, since household consumption is ...

Bloomberg Singapore is experiencing a surge in venture capital fundraising, reflecting growing interest in Southeast Asia’s startups. This month, Vertex Ventures and two other venture-capital firms completed fundraising efforts in the city, each with their largest fund yet. In September, East Ventures, which made early bets on successful startups like Tokopedia and Traveloka, raised $30 million that will go toward ...

­­­­­­­­­­­Bloomberg Facebook Inc. could be in the firing line of data privacy regulators across the European Union if the bloc’s top court follows the opinion of an adviser who said the social media giant may be policed by authorities in the country where users are based. Yves Bot, an advocate general of the EU Court of Justice, said that national ...

Bloomberg General Motors Co. mitigated the effects of significant production cuts it warned were coming by boosting sales of SUVs now and selling Wall Street on the technological transformation it’s making for the future. The automaker led by Chief Executive Officer Mary Barra reported adjusted profit of $1.32 a share for the quarter ended last month, beating the $1.11 average ...

Bloomberg Volkswagen AG and Daimler AG were inspected by European Union antitrust investigators as the EU stepped up a probe into allegations the German car industry colluded on technology for decades. Just days after raiding BMW AG, EU antitrust officials visited Volkswagen’s Wolfsburg headquarters and its Audi unit’s offices in Ingoldstadt “as part of an announced review,” VW said in ...

Bloomberg Initial shipments of Apple Inc.’s new iPhone X will total 20 million units this year, Japanese news service Nikkei reported, without saying how it got the information. That is only about half the total number analyst Ming-Chi Kuo from KGI Securities had forecast the company would be able to ship in 2017. Apple shares fell 1 percent in Frankfurt ...

Bloomberg California’s battle against climate change is being fought more fiercely in fast food restaurants than in Tesla Inc.’s car factory in Fremont. Seven years after the Golden State began offering credits to producers of low-carbon fuels, cities and companies across California are using diesel brewed from fats and oils to fuel everything from fire trucks to United Parcel Service ...

Bloomberg The US moved to impose more import duties on biodiesel from Argentina and Indonesia, after finding the fuel is being sold below fair market value. The US Commerce Department set preliminary import duties of as much as 70.05 percent on Argentine imports and set a 50.71 percent rate on biodiesel from Indonesia. “The Trump administration is committed to both ...