Blog

A U.S. judge overseeing an auction of shares in the parent of Venezuela-owned Citgo Petroleum on Monday agreed to reopen a data room to allow potential buyers to prepare new bids, a court document showed. Judge Leonard Stark ordered the data room to be opened on Wednesday after listening to creditors in the case urge a new bidding round. The court is auctioning shares in Citgo parent PDV Holding to repay $21 billion in claims against Venezuela and state oil firm PDVSA for expropriations and debt defaults.

(Bloomberg) -- Fuse Media, a Latino-owned entertainment company, has become the latest party to raise objections to the pending Skydance-Paramount merger, suggesting to a federal regulator that Paramount Chair Shari Redstone would be overpaid in the deal, to the detriment of the media business.Most Read from BloombergHong Kong's Expat Party Hub Reshaped by Chinese InfluxHow California Sees the World, and ItselfLondon’s Tube Fares Are Set to Rise by 4.6% Next YearIn a filing with the Federal Comm

(Bloomberg) -- Alibaba Group Holding Ltd. is nearing a deal to sell its department store business to Youngor Fashion Co. for around $1 billion, according to people familiar with the matter. Most Read from BloombergHong Kong's Expat Party Hub Reshaped by Chinese InfluxHow California Sees the World, and ItselfLondon’s Tube Fares Are Set to Rise by 4.6% Next YearThe Chinese tech group could announce the sale of Intime as soon as the coming days, the people said, asking not to be identified because

BP and Abu Dhabi National Oil Company's international investments arm XRG said on Monday they have closed a deal for a new natural gas joint venture in Egypt, as ADNOC expands its efforts to grow abroad. The joint venture, Arcius Energy, is 51% owned by BP and 49% owned by XRG.

(Bloomberg) -- Grab Holdings Ltd.’s ability to cut costs and edge out rivals in Southeast Asia’s ride-hailing arena helped push its share performance above global peers this quarter, with some analysts citing further gains ahead. Most Read from BloombergHong Kong's Expat Party Hub Reshaped by Chinese InfluxHow California Sees the World, and ItselfLondon’s Tube Fares Are Set to Rise by 4.6% Next YearBrokers are rushing to lift the Singapore-based firm’s price target, with Evercore ISI Internation

BEIJING/HONG KONG (Reuters) -China's CNOOC Ltd has sold its U.S. subsidiary, together with its upstream oil and gas assets in the Gulf of Mexico, to British chemicals group INEOS, according to a CNOOC statement issued on Saturday. The Chinese oil and gas major said CNOOC Energy Holdings U.S.A. entered into a sales agreement with a subsidiary of INEOS relating to CNOOC's upstream oil and gas assets in the U.S. part of the Gulf of Mexico.

(Bloomberg) -- Gina Bartasi, the founder of the New York-based fertility chain Kindbody, is stepping down from her role as chief executive officer.Most Read from BloombergHong Kong's Expat Party Hub Reshaped by Chinese InfluxHow California Sees the World, and ItselfLondon’s Tube Fares Are Set to Rise by 4.6% Next YearBartasi, who created the company in August 2018, will transition out of the startup “over the next couple of months,” according to the firm’s website. A newly created “office of the

(Bloomberg) -- OpenAI pushed back at Elon Musk’s efforts to block its plan to become a for-profit business by releasing a slew of emails and messages indicating the billionaire originally supported a more traditional corporate structure for the artificial intelligence startup. The internal communication, published in a blog post on Friday, came in response to Musk’s recent request that a federal court block the startup from pursuing what he called an “illegal” conversion to a for-profit company.

(Bloomberg) -- Jeff Bezos, a target of Donald Trump’s jabs during his first term, is expected to meet the President-elect next week. The Amazon.com Inc. founder will need the new administration’s help in the space race against fellow centibillionaire Elon Musk.Most Read from BloombergHong Kong's Expat Party Hub Reshaped by Chinese InfluxHow California Sees the World, and ItselfLondon’s Tube Fares Are Set to Rise by 4.6% Next YearIf all had gone according to plan, Project Kuiper, Amazon’s challen

HOUSTON (Reuters) -Oil prices were little changed on Monday, as hopes of stronger demand stemming from higher factory activity in China was largely offset by concerns that the U.S. Federal Reserve will not cut interest rates again at its December meeting. Brent crude futures settled 1 cent lower at $71.83 a barrel. A private sector survey showed China's factory activity expanded in November at the fastest pace in five months, boosting Chinese business optimism just as U.S. President-elect Donald Trump has ramped up trade threats.