Bloomberg British Airways owner IAG SA warned that challenges facing the European airline industry are set to continue into 2020 after cutting profit guidance for this year. IAG lowered capacity growth in the final quarter and will provide details in November of a decrease next year, Chief Executive Officer Willie Walsh said on a call with analysts. Earnings for this ...

Bloomberg TUI AG is taking steps to expand its winter jetliner fleet to meet increasing demand for package holidays following the collapse of UK rival Thomas Cook Group Plc. The world’s biggest tour operator is working to retain leased aircraft it has been operating through the summer in preparation for an anticipated surge in bookings, Chief Executive Officer Fritz Joussen ...

Bloomberg Saudi Arabia is recovering faster than expected from the biggest attacks ever on its oil industry, beating its own target for restoring capacity by about a week. State oil producer Saudi Aramco has boosted total production capacity to more than 11 million barrels a day, according to people with knowledge of the situation. The news helped to push crude ...

Bloomberg The European Union (EU) is weighing an aggressive new approach to its trade dispute with the US, signaling a willingness to engage in the combative tactics embraced by President Donald Trump and risking a further deterioration in transatlantic relations. The EU is considering imposing tariffs on more than $4 billion of US exports, citing as justification a 22-year-old World ...

Bloomberg For almost three years, the oil industry has been puzzling over how to supply merchant ships with fuel that will meet tough new environmental standards. Turns out part of the solution was sitting in the ground and under ocean floors all the while: crude oil. Oil from off the UK’s coast, which requires blending — but no refining — ...

Bloomberg Australia and Japan signed a cooperation agreement to explore ways to develop carbon recycling technologies, Australia’s Resources Minister Matt Canavan said Wednesday. The nations will facilitate cooperation on research into ways to use carbon dioxide as a key ingredient in manufacturing products such as carbon fiber or for use in construction and agriculture. “Successfully using carbon dioxide as a ...

Bloomberg Nigerian prosecutors are seeking information about funds sent to a government lawyer that were sent through Allied Irish Banks Plc, broadening an international legal dispute between the African country and a company claiming $9.6 billion for a failed contract. Nigeria is embroiled in a fight with Process & Industrial Developments over a failed 2010 deal to develop a gas ...

Bloomberg Oil’s dominance as a energy source may be on the wane, but one Indonesian producer is confident there’s still plenty of opportunities to be had as the age of the hydrocarbon enters its final act. PT Medco Energi Internasional is aiming to lift its oil and gas output from 120,000 barrels of oil equivalent a day to 300,000 in ...

Bloomberg Banco Santander SA will take a 1.5 billion-euro ($1.7 billion) charge over its UK business, which has struggled to boost profit amid stricter regulations and a competitive mortgage market. The impairment will be included in third-quarter results, the Spanish lender said. It won’t affect the bank’s cash flow or tier 1 capital ratio, a key measure of financial strength. ...

Bloomberg Ghana’s pension funds are safe from the crisis engulfing money managers caught in the aftermath of a banking-industry cleanup. “The only way some may have been affected is if they made fixed-term investments with some of the banks that were shut down,” Hayford Attah Krufi, chief executive officer of the National Pensions Regulatory Authority, said. “But, because the government ...