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  Bloomberg Gasoline in New York jumped the most in almost eight years, and its premium to crude prices soared 60 percent after an explosion and fire in Alabama shut the largest fuel pipeline in the US, killing one person and injuring more. Traders rushed to book cargoes from Europe. December-delivery gasoline rose as much as 15 percent to the ...

  Bloomberg With the enthusiasm around its industrial transformation stalled, General Electric Co. is hoping for a boost from an oil megadeal that has already won the backing of the activist investor Nelson Peltz. Chief Executive Officer Jeffrey Immelt is merging the company’s oil and gas unit with Baker Hughes Inc. to create a behemoth capable of both weathering the ...

  Bloomberg On Tuesday, IHS Markit’s Purchasing Managers Index showed input prices rose to their highest level in five years, nearing a record high since the survey first began tracking business costs back in 1992. Hard UK inflation data has yet to show a big uptick in prices but a surge in input costs for UK manufacturers foreshadows the looming ...

  Bloomberg Bonds resumed their selloff after an unexpected jump in Chinese manufacturing fueled optimism about the economy worldwide. Gold rallied as the dollar fell. Treasury yields climbed toward the highest since May on speculation the Federal Reserve will raise interest rates this year. The MSCI All Country World Index posted its first back-to-back gain in two weeks, while the ...

  Reuters Saudi Arabia’s stock market ended a nine-day rising streak on Tuesday as banking shares were hit by profit taking, while bourses in the rest of the region were mixed. The Saudi stock index had surged 10.1 percent over the nine trading days through Monday, led by banks, after Riyadh’s huge international bond issue reduced jitters about the economy’s ...

  Bloomberg China Eastern Airlines Corp. will be the first customer to take delivery of the home made C919 single-aisle passenger jet as a state-owned planemaker markets the aircraft whose maiden test flight has been delayed at least twice since 2014. Commercial Aircraft Corp. of China Ltd. said it signed an agreement with the Shanghai-based carrier to start negotiations to ...

  Bloomberg Deutsche Lufthansa AG’s Eurowings dodged more strikes this week after a cabin-crew union decided to give negotiations another chance to resolve a contract dispute. The union UFO, which rejected arbitration after the two sides failed to reach an agreement over the weekend, offered a new round of talks to “make further labor action obsolete,” according to a letter ...

  Bloomberg Shoprite Holdings Ltd. said Whitey Basson will retire as chief executive officer, ending a 37-year tenure that saw the company grow to become Africa’s biggest food retailer. Basson, 70, will step down at the end of December and be succeeded by Pieter Engelbrecht, the company’s 47-year-old former chief operations officer, Cape Town-based Shoprite said in a statement on ...

  Bloomberg Global consumer companies trying to find a business model for China’s burgeoning domestic market will be watching closely as one of the oldest Western brands in the country starts a new strategy. Yum! Brands Inc., which opened its first KFC restaurant in China in 1987 and also operates Pizza Hut outlets, has been losing market share thanks to ...

  Tokyo / AFP Japan’s central bank on Tuesday again pushed back the timeline for hitting its inflation goal, the latest policy change that has raised questions about its attempt to revive the deflation-plagued economy. The Bank of Japan (BOJ) has for more than three years embarked on a bond-buying stimulus programme to try to keep interest rates ultra-low and ...