Bloomberg BP Plc handed more power to a new generation of executives, announcing that Chief Financial Officer Brian Gilvary will join his boss Bob Dudley in retiring this year. Murray Auchincloss, currently the finance chief of BP’s oil and gas production division, will succeed Gilvary. The energy giant already announced last year that Bernard Looney, who runs that unit, will …

Bloomberg Australia is set to add a record amount of renewable power in 2020, driven by growing corporate demand for clean electricity and to fill generation gaps created by the retirement of aging coal-fired plants. New markets are expected to unlock growth as pilot hydrogen projects start and oil, gas and mining projects invest in off-grid renewables generation, according to …

Bloomberg The world needs a single carbon price to reach climate targets including Europe’s pledge to eliminate emissions by 2050, said the head of the region’s biggest utility. Such a level should be between 20 euros ($28) to 40 euros per ton of carbon dioxide for the coming years, then rising gradually to punish even the most efficient fossil-fuel plants, …

Bloomberg US equity futures slipped on Tuesday, pointing to declines after the long weekend as investors grapple with worries about a deadly virus in China that sparked earlier declines across Asia and Europe. Treasuries rose. Contracts for all three of the main gauges were firmly in the red after a miserable session in Asia triggered by the outbreak of the …

Bloomberg A deadly virus in China. A rating downgrade from Moody’s Investors Service. Violent clashes over the weekend. Welcome to Hong Kong, where reasons to sell stocks are mounting ahead of the Lunar New Year holiday. The Hang Seng China Enterprises Index fell 3.2%, the most since October 2018, while the MSCI Hong Kong Index dropped 2.7%, hitting its 200-day …

Bloomberg Boeing Co should rename its 737 Max to help deflect travelers’ safety concerns once the grounded jet returns to the skies, according to plane leasing-industry veteran Steven Udvar-Hazy. The Max brand is damaged following two fatal crashes last year, and there’s no reason for Boeing to retain it, Udvar-Hazy, the founder and chairman of Air Lease Corp, said at …

Bloomberg The financial crisis at South African Airways (SAA) deepened on Tuesday with one of the nation’s largest travel agencies announcing that the airline had cancelled several domestic and international flights. “We are in the process of contacting our customers to advise and assist,” Flight Centre Travel Group said on Twitter. It didn’t provide further details. As many as 19 …

Bloomberg EasyJet Plc, Britain’s largest low-cost airline, said its loss over the winter low season is set to shrink as the collapse of tour operator Thomas Cook Group Plc pushes more customers its way. The stock rose the most on the FTSE-100 Index on Tuesday after EasyJet said the shortfall for the six months through March is likely to be …

Bloomberg The travel industry is stepping up precautionary measures against the virus originating from central China that’s killed four people and infected hundreds, with at least one airline starting to equip planes with hazardous-materials suits for cabin crew. In China, President Xi Jinping ordered resolute efforts to curb the spread of the illness since the disease was first detected in …

Bloomberg Walmart Inc’s new US chief wasted no time putting his stamp on the unit, appointing his former top lieutenant as second in command and parting ways with the retailer’s head of merchandising. Dacona Smith, a company veteran who most recently served as chief operating officer for Walmart’s Sam’s Club, will become COO under John Furner, according to a memo. …