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  Reuters An OPEC-led production cut may well be accelerating a drawdown in global oil stocks that began last year, but implementing the reduction for just six months means the producer group will fall short of achieving its objective of rebalancing the market. The Organization of the Petroleum Exporting Countries and non-OPEC producers in December reached their first deal since ...

  Bloomberg When oil topped $100 a barrel three years ago, the tiny village of Norman Wells in Canada’s high arctic was gearing up to be the “Dubai of the Mackenzie River,” with oil revenue bringing prosperity to all. Now, with oil at half that price and one of Canada’s oldest wells set to close, the future is less certain ...

  Bloomberg The latest challenge facing a $27 billion liquefied natural gas terminal that Malaysia’s Petroliam Nasional Bhd. wants to build in western Canada: the race for the office of the premier in British Columbia. John Horgan, leader of the province’s opposition New Democratic Party thrust the LNG project into the middle of his campaign on Friday, telling reporters it ...

  Bloomberg Teva Pharmaceutical Industries Ltd.’s chief executive officer unexpectedly left after just three years, leaving the world’s largest maker of cheap copycat medicines floundering for a new boss as its outlook dims and the shares slump. Chairman Yitzhak Peterburg became CEO on an interim basis following Erez Vigodman’s departure, and a search is underway for a successor, the Petach ...

  Bloomberg India’s politicians are promising everything from smartphones to pressure cookers in a free-for-all that could signal the start of a spending spree in the country’s hinterland. In Uttar Pradesh, a state of 200 million people voted in legislative elections on Saturday, parties including Prime Minister Narendra Modi’s Bharatiya Janata Party offered a range of freebies — which have ...

  SEOUL / AP South Korean prosecutors investigating the corruption scandal involving impeached President Park Geun-hye said on Sunday that they plan to summon Samsung heir Lee Jae-yong again as they look into bribery allegations between Park and the country’s largest busi- ness group. Lee, the billionaire vice chairman of technology giant Samsung Electronics, will be summoned along with two ...

  THIMI / AP For generations, the residents of the ancient Nepali town of Thimi supplied the rest of the Himalayan country with everything from tiny clay lamps used in temples to massive grain storage jars. Locals still mix clay and throw it on potters’ wheels, then leave pots to dry and harden in the sun. But not for long. ...

  TOKYO/ AP Japanese automakers Toyota and Suzuki, which began discussing a partnership in October, said they would work together in ecological and safety technology — a rapidly growing area in the industry. Toyota Motor Corp., the maker of the Camry sedan, Prius hybrid and Lexus luxury models, and Suzuki Motor Corp., which specializes in tiny cars, announced the decision, ...

  Bloomberg Microsoft Corp. persuaded a judge not to let the US government out of a lawsuit alleging the company’s free-speech rights are violated by a law that blocks it from alerting users to the clandestine interception of their e-mails. The judge said Microsoft has at least made a plausible argument that federal law muzzles its right to speak about ...

  Bloomberg New York Times Co., looking for ways to persuade readers to pay for news, is working with Spotify Ltd. to give new digital subscribers to the newspaper free access to the world’s largest music-streaming service. Readers who buy one-year online subscriptions to the Times will also get unlimited access to Spotify’s premium service, which costs $120 annually, the ...