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Bloomberg The US Air Force reached a deal with Boeing Co. for two 747 jets to serve as Air Force One, taking advantage of an unusual limited-time discount on planes once bound for Russia. “We got a really good deal,” Air Force Secretary Heather Wilson said Friday in an interview. “I’m pleased with that.” The service said the jets, which ...

Bloomberg Now on opposing sides, Kevin McAllister and Tom Gentile spearheaded talks that over the past few days broke a contract deadlock pitting Boeing against Spirit AeroSystems Holdings Inc., a supplier that used to be part of the Chicago-based planemaker. Spirit surged to a record on news of the tentative pact, which may lead to an even closer tie between ...

Bloomberg The US Federal Aviation Administration is implementing recommendations it rejected six years ago that could have prevented pilots from nearly landing last month on a taxiway crowded with jetliners awaiting takeoff in San Francisco. The National Transportation Safety Board in 2011 recommended a software upgrade to ground radar systems that would warn when a plane is landing in the ...

Bloomberg Vincom Retail, the Vietnamese mall operator backed by Warburg Pincus, is planning a domestic initial public offering that could become the country’s biggest-ever share sale from the private sector, people with knowledge of the matter said. The unit of Vingroup JSC, Vietnam’s largest developer, has selected investment banks to work on the offering and aims to sell shares as ...

Bloomberg After relying on oil to fuel its economy for more than half a century, Saudi Arabia is turning to its other abundant natural resource to take it beyond the oil age — desert. The kingdom is converting thousands of square kilometers of sand into new cities as it seeks to diversify away from crude, create jobs and boost investment. ...

TRIPOLI / Reuters Production from Libya’s largest oil field was returning to normal after being briefly disrupted by armed protesters who broke into a control room in the coastal city of Zawiya, the National Oil Corporation (NOC) said on Monday. A pipeline supplying jet fuel and gasoline from Zawiya to Tripoli that the protesters had also closed has reopened, the ...

CAIRO / Reuters Saudi Arabia’s Prince Alwaleed bin Talal will invest about $800 million to expand the Four Seasons resort in Sharm el-Sheikh, in partnership with Talaat Moustafa Holding Group, Egypt’s Investment Minister Sahar Nasr said. Billionaire Alwaleed’s investment will also include establishing two new hotels in al-Alamein, a town on Egypt’s Mediterranean coast, and Madinaty, a residential compound east ...

Bloomberg Uganda chose a group including General Electric Co. to build and operate a 60,000-barrels-a-day refinery that will process part of the crude extracted from fields being developed by Total SA and Tullow Oil Plc. The Albertine Graben Refinery Consortium — which also includes Yaatra Ventures LLC, Intracontinent Asset Holdings Ltd. and Italy’s Saipem SpA — was picked after a ...

Bloomberg Oil traded near $49 a barrel in New York amid speculation that plentiful supplies will continue to thwart any further rallies. Futures fell 1.3 percent. While growth in US drilling has stalled and Libya’s production revival was dealt a setback by protests, rebounding output is still capping prices, according to Saxo Bank A/S. A committee co-chaired by Kuwait and ...

Bloomberg Norway’s oil industry has been salivating for years over the Arctic Lofoten islands, which could hold billions of barrels of crude. It will likely have to keep dreaming. The general election next month is unlikely to lift a deadlock that’s keeping a ban on drilling off the environmentally sensitive archipelago as more and more Norwegians are turning their backs ...