Bloomberg British consumers will face another sharp jump in their power and gas bills just before winter, adding to surging costs of almost everything from food to petrol. The energy price cap is likely to soar to a record £2,800 ($3,499) in October, Ofgem CEO Jonathan Brearley told a panel of lawmakers. That will send about 12 million households …

  Bloomberg Boeing Co is taking steps to bolster safety and address criticism that it lacked a robust, in-house oversight program in the wake of two fatal 737 Max accidents. Even so, there’s still much to be done some three years after the twin tragedies, which killed 346 people and sparked a global grounding of the Max aircraft, plunging Boeing …

  Bloomberg Wendy’s Co surged in early trading after shareholder Trian Fund Management, the investment vehicle of billionaire Nelson Peltz, said it will explore a transaction that could give it control of the fast-food chain. Trian owns about 11.8% of Wendy’s stock, according to data compiled by Bloomberg. A transaction “could include an acquisition, business combination (such as a merger, …

  Bloomberg Air France-KLM plans to sell about 2.26 billion euros ($2.4 billion) of new shares to shore up its balance sheet and repay a chunk of the state aid that helped the carrier survive the Covid-19 crisis. The proceeds of the rights issue will be used to reimburse about 1.7 billion euros of subordinate bonds issued in April last …

  Bloomberg Walmart Inc and partner DroneUp LLC plan to expand their drone-delivery hubs to 34 locations in six states by year-end, taking a big step towards scaling up aerial dropoffs for US shoppers even though big regulatory hurdles remain. Deliveries will cost $3.99 and orders can weigh up to 10 pounds, Walmart said in a statement. The expanded network …

  Bloomberg Deutsche Lufthansa AG confirmed that it made a joint bid with container giant MSC Mediterranean Shipping Company SA to buy Italia Trasporto Aereo, known as ITA, the successor to failed carrier Alitalia. That sets up a possible two-horse race for ITA, with Lufthansa and MSC likely to face off against a group backed by the German carrier’s European …

  Bloomberg David Buttress, the former chief executive officer of UK food delivery firm Just Eat, is weighing plans to create his own venture capital fund after a making nearly a dozen investments on his own. Buttress joined venture capital firm 83North as a venture partner after stepping down from Just Eat in 2017, and has also made 10 so-called …

Bloomberg North Korea appears to have fired an intercontinental ballistic missile (ICBM) in a defiant show of force just hours after US President Joe Biden wrapped up a visit to the region, testing his efforts to strengthen defense ties with South Korea and Japan. South Korea said a suspected ICBM reached an altitude of about 540 kilometres (335 miles) and …

Bloomberg New Zealand’s central bank (RBNZ) raised interest rates by half a percentage point for a second straight meeting and forecast further aggressive hikes to come to tame inflation. The Reserve Bank’s Monetary Policy Committee lifted the official cash rate (OCR) to 2% from 1.5% on Wednesday in Wellington, as expected by 19 of 22 economists in a Bloomberg survey. It …

Bloomberg The yuan’s biggest weekly gain in two years could be fleeting, with some analysts forecasting its slide to the 7 per dollar level. Option traders are reviving bearish wagers on the Chinese currency as indicated by the three-month dollar-offshore yuan risk reversal, which advanced this week for the first time since mid-May. The cost of shorting the yuan also …