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Bloomberg An extended shutdown of a Ford production facility in Turkey is due to a supply shortage of a transmission produced in Bordeaux, according to people with direct knowledge of the matter, who asked not to be named because the issue hasn’t been publicly announced. The Ford Otosan plant in Yenikoy, Kocaeli province, a joint venture between Ford Motor Co. ...

Bloomberg North Korean leader Kim Jong Un claimed he could strike the entire continental US after test-firing the regime’s second intercontinental ballistic missile within a month. Friday’s unusual late-night launch drew condemnation from the US and its allies, with the top American general calling his South Korean counterpart to discuss a potential military response. President Donald Trump said the test ...

Bloomberg Pakistan’s ruling party will nominate Punjab’s Chief Minister Shehbaz Sharif as prime minister ahead of elections next year, after his older brother resigned from the post following a historic Supreme Court ruling on Friday that barred him from office. Shehbaz Sharif, 65, will step down from his current position heading the province which is the family’s heartland and vote ...

Bloomberg Three University of Maiduguri workers allegedly abducted by Boko Haram militants during an ambush on an oil exploration team this week pleaded in a YouTube video released Friday for the Nigerian government to meet their captors’ demands. The video shows three men identifying themselves as staff at university’s geology department. It was recorded on Friday and they are being ...

Bloomberg Donald Trump’s first meeting with Vladimir Putin this month seemed to give the US president everything he wanted. The two appeared to get along. There was a modest cease-fire deal on Syria. Moscow’s meddling in the US election was raised, but both leaders were eager to move on. Three weeks later, relations between the US and Russia are at ...

Bloomberg An attack in the northern city of Hamburg thrust Chancellor Angela Merkel’s refugee policy into the spotlight less than two months before Germany goes to the polls. Police were aware that the man suspected of a stabbing spree on Friday had shown of signs radicalization, Hamburg’s interior minister, Andy Grote, said in a press conference on Saturday. The attack ...

Bloomberg Poland rejected the European Union’s move on Saturday for a possible lawsuit to halt the just-passed overhaul of the country’s lower courts, saying the bloc lacked such authority and would ultimately have to turn back. The escalation in an almost two-year row over court independence and the government’s respect for the rule of law opens the way for the ...

Bloomberg Caution lights are flashing for the oil industry. Facing lower-than-expected commodity prices, drillers from ConocoPhillips to Hess Corp. to Statoil ASA have slashed their capital spending plans in recent days, as companies lay out their plans to cope with oil prices stuck below $50 a barrel. The budget cuts won’t necessarily mean less oil or natural gas on the ...

Bloomberg Two Indian states at the forefront of adding renewables to their power mix are backtracking on agreements for at least one gigawatt of wind projects and are seeking lower prices, potentially dealing a blow to Prime Minister Narendra Modi’s green energy goals. The southern states of Andhra Pradesh and Karnataka, which account for a quarter of the country’s installed ...

Bloomberg Representatives of some OPEC and non-OPEC nations will meet in Abu Dhabi on August 7-8 to discuss why some of them are falling behind in their pledges to cut production, according to an OPEC statement. The meeting, co-chaired by Kuwait and Russia, will examine reasons why some countries aren’t fully implementing their cuts, it said. Some nations will argue ...