Bloomberg TikTok named a new head of security as the popular video app has come under increasing scrutiny from congress and other US officials over concerns that user data could wind up in China. Kim Albarella was appointed to serve as interim head of TikTok’s Global Security Organization, the company said in a statement. She will oversee the transition ...

Bloomberg Europe’s oil and gas giants, flush with cash from soaring prices, are considering whether to turbo-charge their transition to clean energy with multibillion-dollar acquisitions of major renewable energy producers. Shell Plc, TotalEnergies SE and Equinor ASA are among the companies that have evaluated the suitability of European utilities for takeovers. Potential targets include some of the region’s largest wind ...

Bloomberg Russia’s government has made a plan to create a national oil benchmark next year, as it seeks to protect itself from efforts by the West to restrict the flow of petrodollars to the country. Key ministries, domestic oil producers and the central bank plan to launch oil trading on a national platform in October, according to a document seen ...

Bloomberg The European Union (EU) took a step towards accelerating its deployment of hydrogen across the bloc, by approving a 15-nation project to help produce the fuel seen as critical to decarbonising heavy industry. The EU’s executive gave the green light under state aid rules to an “Important Project of Common European Interest” that will help unlock around $9 billion ...

  Bloomberg Chinese bureaucrats studying the energy outlook are proposing to end a near two-year ban on Australian coal as tensions begin to ease and on concerns supply may tighten when Western-led sanctions on Russian energy kick in. The proposal will be submitted to senior leaders, with a recommendation Beijing should resume Australian imports. That’s been prompted by fears European-led ...

Bloomberg South Africa is considering more than doubling the amount private power producers can generate without requiring a license in a bid to reduce blackouts that are hobbling the economy. President Cyril Ramaphosa is racing to make an announcement as soon as Sunday, the people said, asking not to be identified as the matter isn’t public. South Africa last year ...

  Bloomberg China’s biggest oil company said its first-half profits jumped 50% to 60% from a year ago amid a surge in global energy prices. PetroChina Co.’s preliminary net income rose between 26.5 billion to 32 billion yuan ($3.9 billion to $4.7 billion) from last year, it said in an exchange filing. The company earned 53 billion yuan in the ...

Bloomberg Electricite de France SA’s (EDF) nuclear-generation problems are not just a concern at home. They’re causing a headache for the UK too. Britain’s electricity system is facing a repeat of last winter, according to Fintan Slye, director of National Grid Plc’s network operator. That was when the buffer of spare generation capacity tightened, sending prices soaring. The warning is in ...

Bloomberg As the aerospace world gathers in southern England next week for the first major commercial show since 2019, the stakes are particularly high for one half of the global planemaking duopoly. As ever, the spotlight at the Farnborough International Airshow will focus on the battle between Airbus SE and Boeing Co for orders, with rapid-fire, often last-minute announcements providing ...

Bloomberg Burberry Group Plc held its medium-term forecast steady despite severe lockdowns in parts of China in April and May that hurt demand for luxury products. The British fashion brand continues to target high-single digit revenue growth and a 20% margin at a constant currency in the medium term, as it “actively manages” the impact of lockdowns in China and ...