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Bloomberg UK Prime Minister Theresa May is being urged to shake up her Cabinet and fire Boris Johnson to show she’s in charge, according to people familiar with the situation, as Tories demand an end to the government infighting that threatens to bring chaos to Brexit. Officials in May’s party, speaking on condition of anonymity, say she should act now ...

Bloomberg Nigeria’s oil minister sent a letter to President Muhammadu Buhari listing at least $24 billion of contracts involving the state oil company that he said were never discussed with him or the firm’s board, a copy of the document seen by Bloomberg shows. Emmanuel Kachikwu, the state minister for petroleum resources, complained in the seven-page, August 30 letter to ...

TOKYO / Reuters Tokyo Gas Co, Japan’s biggest city gas supplier, will not accept new contracts for long-term purchases of liquefied natural gas (LNG) that contain clauses that restrict where the gas can be sold, the company’s president said. “We have no intention of signing new contracts unless the destinations are free,” Tokyo Gas President Michiaki Hirose said during a ...

Bloomberg Oil took a downward turn as concerns eased about Tropical Storm Nate’s threat to offshore crude platforms and coastal refineries while prices broke through a key technical barrier. Futures slipped 3 percent in New York, bringing this week’s decline to the steepest since May. While BP Plc, Chevron Corp. and other explorers cleared workers from the Gulf of Mexico ...

MOSCOW / Reuters A plan to list Saudi Aramco in 2018 is on track, senior Saudi officials said in Moscow. The plan to float around 5 percent of Aramco in an initial public offering (IPO) is a centrepiece of Vision 2030, a wide-ranging reform plan to diversify the Saudi economy beyond oil which is being championed by Saudi Crown Prince ...

Bloomberg Brookfield Asset Management Inc., the owner of just a half-megawatt of solar power, is going all in on sunshine. Eight months after agreeing to acquire almost 4 gigawatts of solar and wind power from fallen clean-energy giant SunEdison Inc., Brookfield is now said to be in advanced talks to buy a 41.5 percent stake in Atlantica Yield Plc, which ...

Bloomberg Eskom Holdings SOC Ltd. allocated a contract number to Trillian Capital Partners, a company to which it said it has made ‘unlawful’ payments, according to documents seen by Bloomberg. Eskom has consistently denied that it has ever held a formal agreement with the company. The South African state-owned power utility said it will ask McKinsey & Co. and Trillian, ...

Bloomberg Renault SA will double electric-car offerings in the next five years and widen its presence in China to protect its global ranking in building battery-powered autos as competitors including Volkswagen AG expand in the segment. Electrified models will comprise half of Renault’s line-up by the end of 2022 as the carmaker rolls out eight new or revamped wholly battery-powered ...

Bloomberg Japan’s Denso Corp. is placing a $1 billion bet that the US auto sector’s future is electric. Toyota Motor Corp.’s top parts supplier said it’ll invest that much to expand its factory in Maryville, Tennessee, to make components for electrified, connected and self-driving cars. The factory’s customers include the Detroit Three and Japan-based carmakers, said Bill Foy, senior vice ...

Bloomberg Hong Kong’s largest power utility CLP Holdings Ltd. is scouting for more renewable power projects in India at a time when conventional generators are coping with stranded projects and under utilisation. CLP India Pvt. is eyeing run-of-the-river hydro power projects, solar and wind capacities as well as efficient coal-based power generation units located near coal mines, which helps to ...