Bloomberg News

Government, Business, Logistics

China to Speed US Farm Purchases After Secretive Hawaii Talks

A truck hauls a load of corn between grain bins on a farm in Illinois during harvest. A truck hauls a load of corn between grain bins on a farm in Illinois during harvest. (Daniel Acker/Bloomberg News)

China plans to accelerate purchases of American farm goods to comply with the phase one trade deal with the U.S. following talks in Hawaii this week.

June 19, 2020
Business, Technology, Fuel

Nikola’s Trevor Milton Has $7.4 Billion Fortune on Free Truck Orders

The Nikola Two hydrogen-powered Class 8 tractor. The Nikola Two hydrogen-powered Class 8 tractor. (Nikola)

The executive chairman of Nikola Corp. is under siege from skeptics of the company he started in 2014 with the goal of revolutionizing the trucking industry.

June 12, 2020
Government, Business, Fuel

OPEC+ Edges Closer to Compromise to Extend Deepest Ever Cuts

Oil workers position drilling pipes at an oilfield in Russia. Oil workers position drilling pipes at an oilfield in Russia. (Andrey Rudakov/Bloomberg News)

OPEC and its allies edged closer to a consensus on extending production cuts to prop up the oil market, even as wrangling continued for a third day about whether to bring forward their next meeting.

June 2, 2020
Government, Business, Logistics

China Halts Some US Farm Imports, Threatening Trade Deal

Soybeans are seen in a semi trailer during harvest in this aerial photograph taken over Wyanet, Ill., in October 2019. Soybeans are seen in a semi trailer during harvest in this aerial photograph taken over Wyanet, Ill., in October 2019. (Bloomberg News)

Chinese government officials told major state-run agricultural companies to pause purchases of some American farm goods, including soybeans, as Beijing evaluates the ongoing escalation of tensions with the U.S. over Hong Kong, according to people familiar with the situation.

June 1, 2020
Government, Business

Trump Moves to Revoke Hong Kong Trade Status, Stoking China Rift

President Trump speaks in the Oval Office of the White House on May 28. President Trump speaks in the Oval Office of the White House on May 28. (Evan Vucci/Associated Press)

President Donald Trump intensified his confrontation with China, vowing to punish the country for the coronavirus pandemic and taking steps to curb Hong Kong’s autonomy by ending the territory’s special trade status with the U.S. and denying visas to Chinese officials.

May 29, 2020
Business, Technology, Logistics

Uber-Grubhub Deal Hinges on Breakup Fee, Sources Say

The logo for the Grubhub app shows on a laptop. The logo for the Grubhub app shows on a laptop. (Gabby Jones/Bloomberg News)

Uber Technologies Inc. and Grubhub Inc. are haggling over a breakup fee after nearing an agreement on a merger price, according to people familiar with the matter.

May 29, 2020
Government, Business, Fuel, Logistics

Unlike China, India Oil Demand Stays Weak as Economy Falters

People stand next to a gas station during a partial lockdown in New Delhi, India, on May 14. People stand next to a gas station during a partial lockdown in New Delhi, India, on May 14. (Prashanth Vishwanathan/Bloomberg News)

It’s going to take months for oil demand in the world’s third-biggest market to get back to pre-virus levels as India faces its deepest recession ever in the wake of its near two-month lockdown.

May 21, 2020
Government, Business, Fuel

Chinese Oil Demand Is Almost Back to Pre-Virus Crisis Levels

Oil storage tanks are seen from above on the outskirts of Ningbo, Zhejiang Province, China, on April 22. Oil storage tanks are seen from above on the outskirts of Ningbo, Zhejiang Province, China, on April 22. (Qilai Shen/Bloomberg News)

Chinese oil demand is all but back to levels last seen before Beijing imposed a national lockdown to fight the coronavirus outbreak, according to people with inside knowledge of the country’s energy industry.

May 18, 2020
Business, Technology, Autonomous

GM’s Self-Driving Unit Cruise to Lay Off Almost 8% of Staff

The Cruise Origin electric driverless shuttle is displayed during a reveal even in San Francisco on Jan. 21. The Cruise Origin electric driverless shuttle is displayed during a reveal even in San Francisco on Jan. 21. (David Paul Morris/Bloomberg News)

Cruise, the self-driving car unit majority owned by General Motors Co., is laying off almost 8% of full-time employees to cut costs in the midst of the coronavirus pandemic.

May 14, 2020
Government, Business

Stocks Slide on Powell Remarks, US-China Worries

Pedestrians are seen reflected in an electronic screen showing global stock market information in Tokyo in 2015. Pedestrians are seen reflected in an electronic screen showing global stock market information in Tokyo in 2015. (Chris McGrath/Getty Images)

U.S. stocks slumped to a three-week low after Jerome Powell warned economic risks from the virus are significant and tensions with China flared. Treasuries and the dollar advanced.

May 13, 2020

Pages