Bloomberg Aerojet Rocketdyne Holdings Inc Chief Executive Officer (CEO) Eileen Drake has received backing from the Institutional Shareholder Services (ISS) for her slate of candidates battling for board seats in a proxy fight with the US rocket-engine maker’s chairman. In a shareholder letter, Drake and three other independent directors said the ISS, a provider of proxy research and vote recommendations to the …

  Bloomberg Electric-vehicle (EV) prices are going up at a dizzying pace these days. Tesla raised prices by as much as $6,000 per car this week. Rivian bumped up the ask on its battery-powered R1T pickup truck in March, while Ford hiked the sticker on the Mach-E. Add it all up and an electric car now costs $61,000 on average, according …

  Bloomberg Close to a third of all vehicles sold in India are expected to be electric by 2030, but they will mostly be two- and three-wheelers, as expensive battery-powered cars would be outside the reach of many consumers in the world’s fourth-largest automobile market. By that time, nearly one in every 10 electric vehicles sold worldwide will be in …

  Bloomberg Ferrari NV will introduce its first fully electric model in 2025 as the Italian carmaker accelerates its shift away from combustion engines. The Italian luxury sports car manufacturer expects adjusted earnings before interest, taxes, depreciation and amortization to climb to as much as 2.7 billion euros ($2.8 billion) in 2026, an increase from 1.5 billion euros last year, …

  Bloomberg Microsoft Corp introduced Viva Sales, a new program meant to connect its Office and video conferencing programs with customer-relationship management software — its own and that of rivals, a step that could help it garner revenue from Salesforce Inc. clients. The program, available to preview next month, lets users of customer management programs synchronise information between those products …

Bloomberg Oil falls the most in 5 weeks as Federal Reserve Chair Jerome Powell reiterated his will to curb the hottest inflation in decades with more aggressive rate hikes. West Texas Intermediate dropped to near $110, shedding as much as 6.3%. Federal Reserve Chair Jerome Powell this week openly endorsed for the first time raising interest rates well into restrictive …

  Bloomberg BP’s acquisition of a stake and lead role in a $36 billion green hydrogen development in Western Australia is casting a spotlight on a slew of ambitious projects around the world that are promising to deliver massive amounts of the clean fuel. Green hydrogen, produced using water and renewable electricity, is widely predicted to play a crucial role …

  Bloomberg A wave of new oil refining capacity that’s coming on stream won’t be enough to solve a global shortage of diesel, jet fuel and similar petroleum products. That’s the takeway from the Paris-based International Energy Agency’s (IEA’s) monthly report, which shows that increased processing — as new plants come online — this year and next will fall well …

  Bloomberg Eni said Gazprom will supply only 50 percent of Italy gas requested for June 17. Eni has submitted a daily gas demand for approximately 63 million cubic meters, the Italian company said on its website. Actual delivered volumes almost unchanged with respect to the amounts. Italian Energy Minister Roberto Cingolani’s office has said the country is not facing …

  Bloomberg Europe’s biggest economies are seeing near-record amounts of solar power as a heat wave spreads across the southwest of the continent, boosting demand for electricity to keep people cool. Solar met almost a quarter of all energy demand in five of Europe’s biggest power markets. The surge in electricity supply did little to ease rising prices that are …