Thursday , July 20 2017

News

Texas oil market with spare pipeline space shrugs off shutdown

Bloomberg Oil markets shrugged off a spill that shut a pipeline crossing Texas, signaling no immediate shortage of space to haul crude from the region’s prolific Permian Basin to Houston-area refineries. The 1,200-barrel release on Magellan Midstream Partners LP’s 275,000 barrel-a-day Longhorn system near Austin started after a contractor struck ...

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Chinese investors buy Kyoto luxury sports car maker in EV deal

The GLM Co. G4 concept electric vehicle (EV) stands on display during a media briefing in Tokyo, Japan, on Tuesday, April 18, 2017. GLM, the Kyoto-based automaker, is planning to sell the supercar with a price of 40 million yen ($367,000) in 2019. Photographer: Kiyoshi Ota/Bloomberg

Bloomberg China’s drive to dominate the electric-vehicle market has claimed another overseas target. When Japanese electric-vehicle startup GLM Co. needed more funding to put its high-end sports car into production, domestic backers couldn’t muster the financing. The search for an investor ended this week, when a Hong Kong-based investment company ...

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