Bloomberg LG Energy Solution will invest around $2 billion on increasing output in North America as the South Korean battery maker ramps up production to meet rising demand for electric cars. LG will spend about $1.5 billion on a joint venture plant with Stellantis NV in Canada, the Seoul-based firm said in a company filing, without disclosing the exact ...

  Bloomberg Germany’s ruling coalition agreed on additional measures worth about $16.5 billion to ease the burden on businesses and households from soaring energy costs, including a temporary reduction in fuel prices. Chancellor Olaf Scholz’s government will cut the tax on fuel for three months by 30 euro cents ($0.33) for gasoline and 14 cents for diesel, Finance Minister Christian ...

  Bloomberg TotalEnergies SE is working on a plan to develop gas discoveries in South Africa with its partners and the government, according to its managing director in the country. The oil major starting in 2019 has made discoveries of gas and condensate — a light liquid hydrocarbon — offshore the most industrialised nation in Africa. After overcoming strong offshore ...

  Hanging tough against Vladimir Putin was never going to be cost free. Energy prices are soaring, firms are pulling out of Russia and those that stay are at risk of nationalisation. There’s concern about global food supplies. Recession chatter has started, even as the world economy is still mopping up from the last one. It would be foolish to ...

Inflation is coming for consumers’ pricey pandemic habits. Whether choosing restaurant dinners delivered to their door or at-home meal kits, many Americans have prioritised convenience over cost for the past two years. Food-delivery was a big beneficiary. Some of the top platforms including DoorDash Inc and Uber Eats enjoyed triple-digit growth rates, supercharged by Covid fears and the suspension of ...

  When Rishi Sunak ditched his Thatcherite principles to flood the UK economy with public spending during the pandemic, he fully expected to roll back the largesse soon after. Instead, Britain’s Chancellor of the Exchequer found himself announcing successive new rounds of spending increases and raising taxes to their highest in more than 70 years. Sunak set out to bring ...

  A book published in 1919 on “The Economic Consequences of the Peace” isn’t the obvious starting place for understanding the economic consequences of the current war in Ukraine. But it’s worth taking a little time to read John Maynard Keynes’s famous description of the leisurely life of an upper-middle-class Londoner in 1913 — just before the Great War changed ...

  Bloomberg Airbus SE has tried for years to find a new customer for its bigger jets in India, the world’s fastest growing aviation market before Covid shattered travel. Two of its previous buyers went bankrupt, while another was sold, giving arch rival Boeing Co a firm foothold in the South Asian nation’s market for transcontinental planes. Remi Maillard, the ...

  Bloomberg Clayton Dubilier & Rice (CD&R) LLC has been given five days to address competition concerns in its 7 billion pound ($9.2 billion) purchase of British grocer Wm Morrison Supermarkets Plc or it will face an in-depth probe from the UK’s watchdog. The Competition and Markets Authority (CMA) said the deal could lead to higher fuel prices in 121 ...

  Bloomberg A coalition of leading passenger and cargo airlines is calling on Hong Kong to scrap pre-flight and on-arrival Covid-19 tests for aircrew, saying they are a key reason to avoid flying to the city. Hong Kong is the only jurisdiction in Asia that requires such tests, which lead to delays and the risk of staff being sent to ...