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Bloomberg President Donald Trump urged Congress to pass a budget that provides for higher, stable and predictable funding for the US military. “Call that congressman and call that senator, and make sure you get it,” Trump said on Saturday at the commissioning of the Gerald R. Ford, the Navy’s newest aircraft carrier. “We must end the defense sequester once and ...

Bloomberg Donald Trump’s allies in the oil industry are warning the president that his bid to boost US steelmakers could backfire against their efforts to achieve his goal of “American energy dominance.” The intense lobbying effort comes as the Commerce Department faces a deadline to give the president a plan to require oil and gas pipelines use American-made steel, an ...

Bloomberg India approved the sale of a stake in state-run refiner Hindustan Petroleum Corp. to the country’s biggest oil and gas explorer, according to a person with knowledge of the decision. The move fulfills a plan, first outlined in February, to create an Indian oil giant through consolidation and mergers, forming a company comparable with international rivals that could weather ...

Bloomberg Almost two years after the biggest gas leak in US history sprung from a Sempra Energy natural gas storage field in Southern California, the state is ready for the complex to reopen. Sempra Energy’s Aliso Canyon field near Los Angeles is safe to operate at about 28 percent of capacity, with the ability to store as much as 23.6 ...

Bloomberg India set out plans to step up the pace of issuing contracts for electricity from wind farms, triggering a surge in the shares of one of the nation’s biggest maker of turbines. Suzlon Energy Ltd. climbed 3.5 percent in Mumbai after the government said it will tender more than 5 gigawatts of wind projects annually, a pace that will ...

Bloomberg Total SA is in talks with Myanmar to supply the country’s most populous city, Yangon, with liquefied natural gas. The French energy giant may also build a power plant, according to Xavier Preel, general manager of Total E&P Myanmar. Total, which sold about 11 million tons of LNG last year, is seeking to expand its footprint in downstream activities ...

Bloomberg Malaysian Prime Minister Najib Razak raised the stakes in his efforts to secure the votes of palm oil farmers, announcing hundreds of millions of dollars in aid ahead of an election that could come within months. Farmers who come under the auspices of the Federal Land Development Authority, or Felda, will get cash handouts from the end of August, ...

Bloomberg China’s diesel and gasoline exports surged in the first half of the year as a domestic supply glut and slowing demand growth prompted refiners to sell more fuel abroad. Diesel shipments jumped almost 21 percent in the first six months compared to the same period a year ago, averaging about 328,500 barrels a day, according to Bloomberg calculations based ...

Bloomberg China’s most popular savings products have become a battleground for the nation’s smaller banks, which are competing for funds in a market that’s drawing increasing scrutiny from national policy makers. Whatever the result, one of the main casualties is set to be the domestic bond market. The accounts known as wealth management products, offering lesser-regulated returns that beat the ...

Bloomberg Lenovo Group Ltd.’s Yang Yuanqing asked for patience as he tries to get China’s top PC maker growing once more, but for the first time publicly vowed to step down as chairman and chief executive if he doesn’t deliver on a critical sales goal. Yang, who helped grow Lenovo into the world’s largest PC maker but also orchestrated the ...