Bloomberg China continues to announce new steel mills and coal-fired power plants even as the country maps out a path to zeroing out heat-trapping emissions. State-owned firms proposed 43 new coal-fired generators and 18 new blast furnaces in the first half of 2021, the Centre for Research on Energy and Clean Air said in a report. If all approved and …

Bloomberg The global gas rally left a bitter aftertaste for one US shale driller that posted negative revenue after it had to write down the value of its output hedges. Vine Energy Inc reported negative revenue of $64.5 million in the second quarter, leading to a $360 million loss for the period, according to a filing with the US Securities …

Bloomberg Airbus SE’s dedicated freighter is drawing interest from major cargo firms, after the European planemaker got board approval to launch the jet late last month. Airbus confirmed in late July its directors had signed off on a plan to produce a freighter version of the A350 jet by 2025, enabling it to counter rival Boeing Co’s dominance of the …

Bloomberg Flag carrier PT Garuda Indonesia has shrunk its management to reduce costs as the airline restructures its way out of a pandemic-driven financial crunch. Garuda now has only six directors, removing the position of vice president director and merging services and business development director with commercial and cargo director, President Director Irfan Setiaputra said in a press conference after …

Bloomberg India is set to allow Boeing Co’s 737 Max jets to resume flights in the country within days, according to a person familiar with the matter, clearing one of the last remaining hurdles for the US planemaker as it seeks to get the model flying again worldwide. The South Asian nation has been satisfied with the plane’s performance since …

Bloomberg Climate activists are starting to map out a coordinated campaign to oppose the potential re-nomination of Federal Reserve Chair Jerome Powell, because they view his record on fighting climate change through the banking system as scant and not aggressive enough. The campaign will kick off on August 26 at the start of the Jackson Hole Economic Symposium, a gathering …

Bloomberg Argentine digital bank Brubank, founded by a former Citigroup Inc executive, is looking to expand to Colombia and Peru in 2022 after raising more financing at the end of this year. The Buenos Aires-based company is planning a Series B funding round during the last quarter of 2021 to invest more in Argentina and to finance an expansion into …

Bloomberg Credit Suisse Group AG nominated former UBS AG executive Axel Lehmann to head the board of directors’ risk committee and the ex-chief risk officer at Lloyd’s Banking Group Juan Colombas for a seat on the board, in the latest effort to reinforce the bank’s management team. The proposals will be put before an extraordinary shareholders meeting set for October …

Bloomberg National Bank of Canada Chief Executive Officer Louis Vachon is stepping down after 14 years and will be succeeded by Laurent Ferreira atop the country’s sixth-largest bank. Ferreira, 50, who was promoted to chief operating officer in February, will take over as CEO on November 1, the Montreal-based lender said. Since taking the reins in 2007, Vachon, 59, helped …

Bloomberg Bank of America Corp is boosting base salaries again, lifting pay for junior bankers across the firm to $100,000 from $95,000 in a bid to remain competitive in the war for young talent on Wall Street. The company will pay that amount to first-year analysts in the global corporate and investment-banking, global-markets and global-research divisions, according to a person …