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President Donald Trump has frequently denounced the North American Free Trade Agreement (Nafta), promising either to renegotiate it with extreme prejudice or terminate it altogether. On Thursday his administration served official notice that he is serious, notifying Congress that it intends to start negotiations with Canada and Mexico in 90 days. So Nafta is as good as doomed? Maybe not. ...

UK Prime Minister Theresa May’s election manifesto combines traditionally socialist rhetoric with a lack of specific spending promises. With it, May is making a play for center-left voters the way Tony Blair once made a play for center-right ones; she’s joining a European trend — a kind of hybrid right-left is emerging as traditional political divisions are erased. “Conservatism is ...

In the cutthroat race for consumer dollars, Wal-Mart Stores Inc. has pulled ahead. Shares in the world’s largest retailer rose 2% on Thursday after it reported an eye-popping 63% year-over-year increase in the latest quarter in US online sales, along with its eleventh straight quarter of year-over-year sales growth at established stores. It’s been a decades-long journey, but it seems ...

The Industrial Revolution was probably the most important thing that has ever happened in human history. In the space of a few centuries, much of the human race, which had long hovered on the brink of starvation, was suddenly lifted into relative security through the power of new technology. But why did this amazing explosion happen? There are many theories, ...

Bloomberg Spain sought to lure investment of as much as 3.9 billion euros ($4.3 billion) in its biggest auction yet for contracts to supply electricity from clean-energy sources, part of an effort to meet European Union targets. The government took bids to supply at least 2 gigawatts and as much as 3 gigawatts of power in time to meet the ...

Bloomberg All producers agree to extend crude output cuts by nine months to help trim a supply glut, according to Saudi Arabia’s energy minister. The extension through the first quarter of 2018 will help producers reach their goal of trimming global stockpiles to a five-year average, Khalid Al-Falih said. OPEC and other global producers such as Russia had agreed to ...

Bloomberg Nigeria’s manager-level oil union will continue a strike indefinitely at Exxon Mobil Corp.’s local unit, threatening output after talks with the company to end the action reached an impasse, a labor official said. “The meeting broke down, and as of this morning our action has been escalated,” Gbenga Ekundayo, vice chairman of the Petroleum and Natural Gas Senior Staff ...

Bloomberg The Egyptian shores of the Gulf of Suez are becoming increasingly attractive to renewable-energy investors seeking to take advantage of the area’s strong, steady winds. That’s a growing problem for the millions of pelicans, white storks, raptors and other birds that fly by every year while migrating between Eurasia and East Africa. The 200-megawatt Gulf of el Zayt wind ...

Bloomberg Asian governments are watching with some anxiety the fate of the North American Free Trade Agreement as the Trump administration kicks off a review of the pact. “All of us are keen to know whether America is committed to have an open, liberal trading environment,” Malaysian Trade Minister Mustapa Mohamed said in an interview on the sidelines of the ...

Bloomberg Ant Financial, China’s largest provider of internet financial services, will continue investing in mobile-payment providers around the world to boost offshore revenue and buttress itself from rising competition and tighter regulation at home. Controlled by billionaire Jack Ma, the Hangzhou-based firm will announce more “partnerships” this year with a focus on Asia and is also “actively assessing” other markets, ...