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For OPEC, Russia and others that have lived off oil (and little else) for decades, the worst-case scenario is about to become the present-tense scenario. America has discovered the magic beanstalk, and it is named “shale oil production.” The US now has the ability to not only be energy self-dependent but to become a major exporter of oil and natural ...

During the Reserve Bank of India’s (RBI) press conference last week, one exchange stood out. Asked about a meeting scheduled by the finance ministry in New Delhi to discuss the RBI’s policy, the governor of India’s central bank, Urjit Patel, replied: “The meeting did not take place. All the MPC members declined the request of the finance ministry for that ...

India’s billionaires believe in rugged, muscular capitalism—so at the first hint of trouble, they go running to mommy. Sunil Mittal, who controls India’s biggest wireless service, and Kumar Mangalam Birla, who’s in the process of merging his number 3 operator with the second-ranked local unit of Vodafone Plc, are seeking the Indian government’s intervention. The big three claim the entry ...

There’s a disconnect between the way Uber, the ride-hailing company, is trying to transform itself and what it really needs to fix to become a sustainable business. Instead of reconsidering its business model and protecting itself against a regulatory backlash, it has decided to go politically correct. As a result of much highly public soul-searching, caused by accusations of mistreating ...

Bloomberg Facebook Inc. has hired more than 150 counterterrorism experts and is increasingly using artificial intelligence that can understand language and analyze images to try to keep terrorists from using the social network for recruiting and propaganda. Monika Bickert, director of global policy management, and Brian Fishman, counterterrorism policy manager, outlined aspects of Facebook’s latest efforts in a post to ...

Bloomberg Apple Inc. hired two former Sony Corp. television executives who oversaw the development of acclaimed shows like “Breaking Bad” and “The Crown,” further evidence that the technology giant is getting serious about producing its own video programming. Jamie Erlicht and Zack Van Amburg, who had been presidents of Sony Pictures Television since 2005, will report to Eddy Cue, Apple’s ...

Bloomberg Corporate chatroom startup Slack Technologies Inc. has received recent inquiries about a potential takeover from technology companies including Amazon.com Inc., people with knowledge of the situation said, a deal that would be the internet-commerce giant’s biggest ever. San Francisco-based Slack could be valued at at least $9 billion in a sale, the people said. An agreement isn’t assured and ...

Abu Dhabi / Emirates Business LG’s latest appliance wants to partially replace the chef in your house and give you and your family precious time back. Family, food, culture, heritage and traditions are of central focus during the holy month of Ramadan and now with smart appliances, homemakers are able to take advantage of new technology to prepare meals that ...

Bloomberg China’s smaller banks, caught between a seasonal cash squeeze and an official deleveraging drive, are stomaching record high borrowing costs to raise funds. Issuance of negotiable certificates of deposit jumped to 758 billion yuan ($111.5 billion) this week, the most since the securities were introduced in 2013 as a lifeline for smaller banks. The yield on one-month AAA rated ...

Bloomberg A potential share sale of Banco Patagonia SA was delayed after majority holder Banco do Brasil SA prevented a shareholder meeting of the Argentine lender. Banco do Brasil hasn’t decided whether it will sell its 59 percent stake in Patagonia or offer new shares, according to two people familiar with the matter who asked not to be named because ...