Bloomberg Engie SA Chief Executive Officer (CEO) Catherine MacGregor said the French utility’s clients are cutting natural gas consumption as prices soar amid Russia’s squeeze on fuel deliveries to Europe. “Gas demand has declined among our customers, whether its households, small businesses or large manufacturers,” MacGregor said on a conference call on Friday. That’s probably the result of energy savings, ...

Bloomberg Eskom Holdings SOC Ltd., the South African state-owned power utility, is looking to replace Zimbabwe as an importer of electricity from Mozambique and Zambia to help ease rolling blackouts. Zimbabwe’s contracts with Mozambique’s Electricidade de Mocambique and Zambia’s Zesco Ltd. are set to expire at the end of the month, according to Sydney Gata, the executive chairman of the ...

Bloomberg Eni SpA raised share buybacks after profits surged due to high oil and gas prices. The Italian oil giant will repurchase a further 1.3 billion euros ($1.3 billion) of shares this year, raising the total to 2.4 billion euros, which is close to the top end of the previously specified buyback range. Investors in Big Oil are receiving a ...

  Bloomberg The biggest US coal miners are seeing soaring revenues as global demand for the dirtiest fossil fuel drives prices to record highs. Peabody Energy Corp., the biggest US coal producer, saw second-quarter sales jump 83% to $1.32 billion, the most since 2018, the company said in a statement. Arch Resources Inc. reported revenue of $1.13 billion, more than ...

  Bloomberg Southwest Airlines Co said it’s facing high costs and delays in aircraft deliveries from Boeing Co, tarnishing a quarter in which the carrier topped Wall Street’s profit expectations on rebounding summer travel. The airline will receive 66 jets this year, down sharply from its prior plan for 114 deliveries, Southwest said in a statement. That puts further pressure ...

  Bloomberg JetBlue Airways Corp is acquiring deep-discounter Spirit Airlines Inc for at least $3.8 billion in cash, clinching a deal less than a day after Spirit called off a planned merger with Frontier Group Holdings Inc. JetBlue will pay $33.50 per share for Spirit, or as much as $34.15 depending on timing, the airlines said in a joint statement. ...

Bloomberg British Airways (BA) parent IAG SA reported a second-quarter profit and said it expects to post positive earnings for the full year as a rebound in travel led by premium leisure bookings more than makes up for capacity curbs tied to the industry’s staffing crisis. IAG had an operating profit of 287 million euros ($293 million) in the three ...

Bloomberg Hermes International’s profitability rose to record levels in the first half as the maker of the $10,000-plus Birkin bag became the luxury industry’s standout performer. The French company’s shares soared as much as 8.5% after it said its recurring operating margin reached a historical high of 42%, up from 41% a year earlier. “This set of results confirms that ...

  Bloomberg An Airbus SE A320 aircraft operated by IndiGo, India’s biggest airline, slid off the runway onto grass while taxiing for takeoff in Jorhat, the carrier said in a statement. The flight to Kolkata was cancelled and the aircraft is being inspected in Jorhat, a city in the northeastern state of Assam. IndiGo, which is operated by InterGlobe Aviation ...

  Bloomberg L’Oreal SA sales climbed as demand for makeup bounced back and the strength of its luxury products offset the negative impact of Covid-19 restrictions in China. Overall sales rose 13% on a comparable basis in the second quarter, the French company said. Analysts expected a gain of 9.7%. The company’s stock rose more than 2% in early trading. ...