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VIENNA / Reuters Nigeria is pumping less than 1.8 million barrels per day (bpd) of crude, its oil minister said, meaning the country is sticking to an output cap agreed under an OPEC-led deal to limit output. The Organization of the Petroleum Exporting Countries and other producers, including Russia, are reducing crude output until next March in an attempt to ...

Bloomberg US stocks of distillate fuel oil, which have been trending downwards all year, now look tight following disruption to major refineries caused by Hurricane Harvey. The position is a marked turnaround from the start of the year, when distillate stocks were at record levels following the second warm winter in a row and a prolonged slowdown in freight movements ...

Bloomberg Singapore has overtaken nations including the US, Russia and China as the country launching the most cyber attacks globally, according to Israeli data security firm Check Point Software Technologies Ltd. The company, whose software tracks an average of eight to 10 million live cyber attacks daily, said Singapore rose to pole position after ranking in the top five attacking ...

Bloomberg Shareholders of Tata Sons Ltd. voted to convert the holding company to a private entity, a move that was opposed by ousted Chairman Cyrus Mistry, according to a person familiar with the matter. The motion introduced by the board led by Tata Trusts, which controls 66 percent of the company, dealt a blow to Mistry’s efforts to preserve the ...

Bloomberg Google agreed to buy part of HTC Corp.’s engineering and design teams for $1.1 billion, taking on a cadre of veterans that worked on the Pixel phone and could bolster its nascent hardware business. Alphabet Inc.’s Google is taking on some 2,000 employees with experience working on its signature Pixel devices, intended to showcase the best features of the ...

Bloomberg Facebook Inc. scrapped plans to create a new class of shares, a rare victory for outside investors in a battle for control of the world’s largest social media company. The move would have let Chief Executive Officer Mark Zuckerberg keep voting control even while selling almost all his shares to fund philanthropic endeavours. Only days before he was scheduled ...

Bloomberg Mark Zuckerberg, the world’s fifth-richest person, plans to sell as much as 18 percent of his Facebook Inc. stock during the next 18 months. The founder and chief executive officer of the world’s biggest social media company expects to sell 35 million to 75 million shares, Menlo Park, California-based Facebook said in a regulatory filing. The stock ended the ...

Bloomberg Is London’s decision to remove Uber Inc.’s taxi license a sign that Britain is turning inward ahead of Brexit? It could be seen as a concession to the capital’s famous black cab drivers, who are highly trained and expensive, and resent competition from cheaper rivals equipped with satellite navigation. They are skilled tradesmen threatened by the march of technology ...

Bloomberg Amazon.com Inc. is set to open a large new office in New York City and create 2,000 high-paying jobs. The e-commerce giant, which already has several locations across the city, will expand its presence with a 359,000 square-foot office in Manhattan that will employ people in finance, sales, marketing and information technology earning an average of $100,000 annually. Amazon ...

Bloomberg You don’t even have to leave the airport to see that Hurricane Maria has laid waste to Puerto Rico’s power grid. The San Juan airport was abandoned. No electricity meant no air conditioning, and no air conditioning meant hot and muggy air wafting through the terminals. Ceilings were leaking. Floors were wet. Only the military, relying on its own ...