Bloomberg Oil climbed to its highest level since November as two major agencies indicated that markets may be tighter than previously forecast. West Texas Intermediate traded above $82. On Wednesday, the International Energy Agency’s Fatih Birol said the relatively small hit to demand from omicron means consumption has been stronger than many observers had expected. That followed a monthly …

  Bloomberg Soaring energy prices are putting the squeeze on European consumers desperate for some relief after two years of coronavirus, lockdowns and job worries. The financial pain is taking a toll on households, who are more worried about prices than at any time this century, and feel less inclined to splurge, according to a European Commission survey. If demand …

  Bloomberg Electricite de France SA delayed the startup of a new nuclear reactor in western France that was already a decade late, and raised its budget for the project yet again. Fuel will now be loaded into the Flamanville-3 reactor in second quarter of next year rather than at the end of 2022, EDF said on Wednesday, citing complications …

  Bloomberg AP Moller-Maersk A/S, one of the world’s largest oil consumers, is ramping up plans to eliminate carbon emissions after finding green alternatives to fuel its fleet of ships. The container shipping giant said it will hit its goal of becoming carbon neutral in 2040, 10 years earlier than planned, and the target will now also cover indirect, so-called …

  Bloomberg Cathay Pacific Airways Ltd Chairman Patrick Healy said the airline will cooperate with two government investigations after outbreaks of the Omicron variant were traced back to crew who were allowed to skip strict quarantine requirements aimed at keeping the city Covid free. Hong Kong Chief Executive Carrie Lam on Tuesday reimposed some of its strictest virus curbs since …

  Bloomberg Flights out of some airports on the US West Coast were briefly halted by aviation regulators as a precaution after North Korea launched a high-speed missile in a test. The so-called ground stop, which paused departures from an unspecified number of airports, lasted less than 15 minutes. North Korea’s missile flew at almost 10 times the speed of …

  Bloomberg J Sainsbury Plc raised its profit forecast following strong Christmas sales, defying concern that supply chain problems and a surge of Omicron infections would hit demand over the festive period. Britain’s second-largest grocer said Wednesday earnings have been boosted by cost cuts, and as it matched prices of discounter Aldi on many products to attract shoppers who celebrated …

  Bloomberg Wall Street is keeping its faith in Amazon.com Inc., the only megacap technology stock with unanimous analyst buy ratings, even after the e-commerce giant lagged behind its peers by a huge margin for the past 18 months. Morgan Stanley grew more optimistic on the shares after their worst annual performance since 2014, raising its price target Monday and …

  Bloomberg China is urging consumers to boycott a promotion offered by KFC and toy retailer Pop Mart International Group Ltd., saying it encourages food waste— the latest example of a foreign brand running into trouble in the world’s second-largest economy. The China Consumers Association said in a statement Wednesday that one person bought 106 meals, spending nearly 10,500 yuan …

  Bloomberg It was once hailed as the future of Chinese banking, a privately run lender that would mint money by outmaneuvering its state-owned rivals. An ill-fated push into property lending has instead turned China Minsheng Banking Corp into one of the biggest casualties of the real estate debt crisis that’s roiling Asia’s largest economy. Battered by mounting losses on …