Bloomberg Oil declined the most this week since March as a resurgence of Covid-19 threatened the outlook for global fuel consumption in the near-term. Futures in New York edged up but settled 3.7% lower for the week. The rapidly spreading delta variant is triggering renewed restrictions on movement as it sweeps across the globe. The UK is considering stricter measures …

Bloomberg Reliance Industries Ltd. will buy a controlling stake in local search engine and e-commerce marketplace, Just Dial Ltd, for as much as $767 million as Mukesh Ambani’s conglomerate looks to bolster its digital offerings. India’s most valuable company plans to acquire 66.95% stake in Just Dial through its arm, Reliance Retail Ventures Ltd. It will use a combination of …

Bloomberg Delta Air Lines Inc is offering to buy back up to $1 billion of high-cost bonds issued at the height of the pandemic last year, as the company begins to look at ways to scale back its balance sheet. The tender offer is for three bonds issued between April and September 2020, according to a news release. The airline …

Bloomberg More than 2,500 Boeing Co 737 jets in the US will have to be inspected after the company and regulators discovered a potential flaw in a pressure switch that could lead to pilots becoming incapacitated. The Federal Aviation Administration (FAA) said airlines and operators should inspect cabin pressure switches, which help ensure there’s sufficient air to breathe as planes …

Bloomberg Lulus, the online retailer that focuses on female apparel, is planning an initial public offering this year, according to people with knowledge of the matter. The Chico, California-based company is working with Goldman Sachs Group Inc and Bank of America Corp on the planned listing, said the people who asked not to be identified discussing private information. The company …

Bloomberg A heat wave across some of China’s biggest industrial provinces has pushed local electricity consumption to unprecedented levels, sending thermal coal futures toward record highs. The power load in the eastern province of Zhejiang near Shanghai surpassed 100 million kilowatts per hour for the first time, the State Grid said in its newspaper. Usage has also hit records in …

Bloomberg Pembina Pipeline Corp said it wasn’t going to sweeten its bid for Inter Pipeline Ltd one day after a new hostile offer for Canada’s fourth-largest midstream company was made by Brookfield Infrastructure Partners LP as the takeover battle intensifies. The Canadian pipeline company doesn’t intend to increase or change the 0.5 common Pembina shares offered under its proposed acquisition …

Bloomberg Royal Dutch Shell Plc and Iberdrola SA’s ScottishPower unit are teaming up to bid to build what could be the world’s largest wind farms that float in the sea. The companies submitted proposals for multiple floating projects off the coast of Britain as part of Scotland’s process to lease its seabed to renewable energy developers, according to a statement. …

Bloomberg The European Central Bank (ECB) is about to take the next step in reinventing the region’s money as it marches towards the creation of a digital euro. Policy makers will decide whether to move to an exploratory phase, which President Christine Lagarde reckons could take about two years. Ultimately, euro-zone citizens could be holding a virtual central-bank currency by …

Bloomberg New Zealand’s central bank (RBNZ) said it will reduce monetary stimulus by ceasing quantitative easing, a surprise move that sent the currency higher as traders priced in an interest-rate increase as early as August. The Reserve Bank’s Monetary Policy Committee, led by Governor Adrian Orr, on Wednesday held the official cash rate at 0.25%, but said it will halt …