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Bloomberg On the surface, the oil market is getting worse and worse: there are now more bearish bets on benchmark Brent crude than at any time in at least six years. But to many traders, that’s a signal prices are vulnerable to a sudden, sharp rebound. Oil’s ripe for a so-called “short-covering” rally — where traders who sold contracts hoping ...

Bloomberg Alibaba Group Holding Ltd. will invest another $1 billion to raise its stake in online mall Lazada Group SA to 83 percent, securing control of a fast-growing startup at the vanguard of its Southeast Asian expansion. The Chinese e-commerce leader is buying out most other backers in a deal that values the Singapore-based startup at $3.15 billion, Lazada CEO ...

Bloomberg Toshiba Corp. sued Western Digital Corp. in a Japanese court, asking for 120 billion yen ($1.1 billion) in damages and seeking to stop the US company from interfering in the sale of its chip unit, escalating a legal tussle between the companies. The litigation, filed on Wednesday in Tokyo District Court, seeks to stop Western Digital from making ownership ...

Bloomberg China plans to ban coal imports starting July 1 at ports that were set up through approvals by provincial authorities, the latest move by President Xi Jinping’s government to exert stricter control on the market. Ports in the world’s largest consumer of the fuel that were approved under the authority of the State Council will still be able to ...

Bloomberg Takata Corp. shares tumbled as much as 69 percent to a record low as the Tokyo Stock Exchange removed daily limits on the stock’s price declines following the company’s bankruptcy protection filings in Japan and the US The stock traded at 35 yen as of 11:21 a.m. in Tokyo trading. Shares of the air-bag maker have slumped 91 percent ...

Bloomberg Royal Philips NV’s $1.7 billion deal to buy Spectranetics Corp., a US maker of devices to treat cardiac disease, shows the Dutch company is moving more aggressively to bolster its growing health-care business. Philips will offer $38.50 a share in cash for the Colorado Springs-based company, according to a statement on Wednesday. The price is 27 percent above Spectranetics’ ...

Bloomberg A.P. Moller-Maersk A/S has shut down systems across its operations to contain a cyber attack against its computer network as it assesses the full impact. Vessels at its Maersk Line unit, the world’s largest container carrier, are maneuverable, able to communicate and its crews are safe, but the Copenhagen-based company isn’t able to accept bookings from clients. “Our portal ...

Bloomberg Blue Apron Holdings Inc. is used to pitching its pre-portioned meal kits as an alternative to shopping for groceries, eating out or ordering in. The past week and a half, the company has faced a new challenge: Convincing investors of its value during a roadshow for its initial public offering. Blue Apron aims to raise as much as $510 ...

Bloomberg Mergers and acquisitions in Canada are set for the strongest start in a decade as foreigners sell their oil sands investments. There have been about $132 billion of transactions recorded this year, the highest since $156.5 billion in the first half of 2007, according to data compiled by Bloomberg. Local companies snapped up these energy assets, boosting domestic M&A ...

Bloomberg The US will impose further punitive tariffs on imports of softwood lumber from Canada, escalating a longstanding trade dispute that’s already led to higher timber prices. Preliminary anti-dumping duties of as much as 7.7 percent will be levied on Canadian producers, the US Department of Commerce said in a statement. The move follows the government’s decision in April to ...