Business

Potential U.S. sanctions on Venezuela's crude oil exports would cut off the nation from Gulf Coast refiners that are among its biggest customers, likely forcing it to send more crude to China, India or other Asian countries, traders said on Wednesday.

Asian shares were subdued on Thursday as political uncertainty in the United States and worries about weakening global economic growth left investors wary of riskier assets.

Boeing Co has warned that a prolonged U.S. government shutdown could hurt its business as well as the broader aviation industry, CNBC reported on Wednesday, citing an emailed statement from the plane-maker.

Microsoft Corp's Bing search engine has been blocked in China following a government order, the Financial Times reported on Thursday, citing people familiar with the matter.

California power company PG&E Corp, which expects to soon file for bankruptcy, said on Wednesday it would cost between $75 billion and $150 billion to fully comply with a judge's order to inspect its power grid and remove or trim trees that could fall into power lines and trigger wildfires.

Oil prices steadied on Thursday, but concerns over global growth and a sharp rise in U.S. stocks kept the market under pressure.