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Bloomberg Billionaire Carl Icahn says an oil industry push for structural change to the US biofuels mandate will persist, raising the prospect of legal action, even if the Environmental Protection Agency denies refiner requests. Independent oil refiners have no plans to abandon their view that the current structure of the Renewable Fuel Standard is flawed, Icahn said in an interview, ...

Bloomberg The Renault-Nissan alliance is expanding its push into China, teaming up with Dongfeng Motor Group Co. on its first locally designed electric vehicle as emissions rules tighten in the world’s largest car market. Renault SA, Nissan Motor Co. and Dongfeng established a joint venture to develop a battery-powered model based on a small sport utility vehicle platform developed by ...

Bloomberg A unit of billionaire Li Ka-shing’s CK Hutchison Holdings Ltd. received a formal 79 billion rupee ($1.2 billion) tax bill from India over the company’s sale of its mobile-phone business in the country to a Vodafone Group Plc unit a decade ago. CK’s Hutchison Telecommunications International Ltd. received the penalty order from the Indian Tax Authorities on August 9, ...

Bloomberg Uber Technologies Inc. rolled out a free insurance programme for more than 450,000 drivers registered on its ride-hailing app in India to attract more drivers. The San Francisco-based company, which this week chose a new chief executive officer, said that it’s teaming up with ICICI Lombard General Insurance Co., the South Asian country’s largest private non-life insurer, to cover ...

Bloomberg After years of declines, Singapore’s home sales are on a roll, even as purchases by foreign buyers have remained muted. Stringent stamp duties levied by the government have had the intended effect of damping speculative foreign demand, with foreign buyers accounting for just 6 percent of purchases in the first half, data from Cushman & Wakefield show. That compares ...

Bloomberg Greenland Holdings Corp., China’s fourth-biggest developer by property sales, said it had overdue loans of $69.2 million in some units in the northeast province of Liaoning at the end of June, underscoring concerns about the company’s debt problems. Companies under Greenland’s unit in Liaoning had overdue short-term debt of 247.5 million yuan, as well as 210 million yuan in ...

Bloomberg ­­­­­­­­­­­­­­­ US President Donald Trump said that “all options” are under consideration in response to North Korea firing an unidentified ballistic missile over Japan on Tuesday as Kim Jong Un’s latest provocation rattled markets. “The world has received North Korea’s latest message loud and clear: this regime has signaled its contempt for its neighbors, for all members of the ...

Bloomberg It keeps getting deeper for Houston, the epicenter of the US oil industry. As floods inundated the nation’s fourth-largest city on Monday, with more than a foot of rain likely still to come through Friday, predictions of damage ranged as high as $100 billion. Wall Street and Washington braced for the repercussions of the costliest US natural disaster since ...

BANGKOK / Reuters Thailand has no immediate plan to revoke the passports of former prime minister Yingluck Shinawatra, the foreign minister said on Tuesday, after she fled the country last week ahead of a court ruling in a negligence case. Yingluck, 50, was elected Thailand’s first female prime minister in 2011 and is the sister of ousted former prime minister ...

Bloomberg Pakistan’s new Prime Minister Shahid Khaqan Abbasi has set himself a possibly insurmountable challenge. He intends to work with arch-rival India to achieve peace across South Asia. It’s likely to be a tall order for Abbasi considering the two nuclear-armed nations haven’t had high-level dialogue for almost two years and given the institutional opposition of Pakistan’s military against reconciliation ...