Bloomberg Petrobras Chairman Admiral Eduardo Bacellar Leal Ferreira plans to step down after three years at the helm of the state-controlled Brazilian oil giant, citing personal reasons. “My family lives abroad and I want to be close to them,” Ferreira, who turns 70 in June, said by phone. Rodolfo Landim, the former chief executive officer of BR Distribuidora, is ...

  Bloomberg The Netherlands unit of Chinese solar manufacturer Longi Green Energy Technology Co has been ordered by a Dutch court to stop selling some products because they infringe on patents held by a South Korean rival. The ruling affects sales in 11 countries, including Germany and France, and follows a lawsuit from Hanwha Solutions Corp, according to an exchange ...

  Bloomberg China’s top wind turbine producers are facing a growing challenge in the world’s largest market, as smaller players increase sales and with fierce competition on pricing. The market share of the top three turbine makers in China fell for the second year in a row and is now down to 48% from 62% in 2019, BloombergNEF analysts Leo ...

Bloomberg OMV AG, Austria’s biggest fossil-fuel company, will book charges of as much as 1.8 billion euros ($2 billion) related to the Nord Stream 2 pipeline and its investment in a giant natural gas field as it quits most Russian projects following the country’s invasion of Ukraine. The Vienna-based company expects value adjustments of 500 million to 800 million euros ...

While Putin’s war in Ukraine is delivering shocks to the energy market and driving up fertiliser prices, the bigger problem has become the soaring cost of wheat. Russia is steering the world toward an increasingly severe food security crisis — compounding the shortages already caused by the pandemic and climate change. More than 70% of Ukraine is prime agricultural land ...

With China’s technology giants facing a plethora of struggles, Southeast Asia was supposed to be the hip new market that offered a well of fast-growth companies. That’s coming at a heavy cost. Earnings reports from e-commerce and gaming provider Sea Ltd as well as food and deliveries giant Grab Holdings Ltd are a stark reminder that years of break-neck speeds ...

  When it comes to the Federal Reserve and monetary policy, there are no shortages of talking heads who say the central bank can’t raise interest rates too much or else it would trigger a “debt bomb.” What this means is that because the federal debt is so high, even a relatively small increase in rates might force the government ...

  The US Federal Reserve’s next policy-making meeting in mid-March will be one of the most consequential in recent memory, with inflation running at a 40-year high and Europe riven by armed conflict. Yet with several nominations stuck in the Senate, the central bank is troublingly under-prepared to rise to the occasion. It’s a weakness that legislators must urgently resolve. ...

Bloomberg Qantas Airways Ltd flagged a period of higher air fares to claw back rising fuel costs as Russia’s invasion of Ukraine sends oil prices soaring. “The group is very well placed to be able to recover the cost of fuel if it stays at the levels that it is at the moment,” Qantas Chief Financial Officer Vanessa Hudson said ...

  Bloomberg Adidas AG halted sales in Russia, following other athletic-wear makers like Puma SE and Nike Inc in response to the country’s invasion of Ukraine. The German sports company said it was suspending the operations of its stores and e-commerce site in Russia and stands “in solidarity with those calling for peace.” Adidas, in a separate move, replaced the ...