Bloomberg Chanel Inc has become the latest retail giant to make a public nod towards environmentally conscious products, investing in a “green” chemistry company as part of an effort to make luxury items less damaging to the planet. Both the apparel and cosmetics industries are major sources of waste, and chemicals often used to make fabrics and skincare products — …

Bloomberg When Greg Hayes took the reins at United Technologies Corp in late 2014, the newly minted CEO said he would pursue huge deals to reshape the industrial conglomerate. He’s been true to his word, though not without a little pressure from activist investors pushing for a transformation. Since late last year, he has completed the acquisition of Rockwell Collins …

Bloomberg Kenya Airways Plc is willing to operate under a state-owned holding company after the troubled airline failed in its bid to jointly run the country’s main airport, according to Chairman Michael Joseph. Lawmakers in the East African nation are expected to issue alternative proposals, including the possible partial nationalisation of Kenya Airways, after they rejected the airline’s proposal to …

Bloomberg Oil held near $54 a barrel after Saudi Arabia said it would work with Russia and other members of the Opec+ coalition to prevent a slump in prices. Futures were little changed in New York, after rising 2.7 percent. Saudi Energy Minister Khalid Al-Falih said oil producers would take “preventive steps” to stop prices from diving, after meeting with …

Bloomberg US President Donald Trump threatened to raise tariffs on China again if President Xi Jinping doesn’t meet with him at the upcoming Group of 20 summit in Japan. Trump was asked in an interview with CNBC on Monday whether tariffs on about $300 billion in Chinese goods would be enacted immediately if there’s no meeting at the summit later …

ABU DHABI / WAM The UAE and the International Renewable Energy Agency (Irena), on Monday, signed a supplementary agreement to the headquarters agreement that was signed in 2012 on hosting the Agency’s permanent headquarters in the UAE capital. The new document outlines the specific conditions governing the occupancy by Irena of its headquarters premises Dr Thani bin Ahmed Al Zeyoudi, …

BAHRAIN / WAM Investcorp announced that it acquired 11 new US multifamily properties. The portfolio totals 2,615 units for a combined purchase price of approximately $370 million. The acquisition marks Investcorp’s largest US real estate portfolio acquisition co- mpleted in the past decade. “This diversified acquisition marks very exciting milestone for our real estate investment team as this is the …

Bloomberg As the world strives to wean itself off fossil fuels, oil companies have been turning to plastic as the key to their future. Now even that’s looking overly optimistic. The global crackdown on plastic trash threatens to take a big chunk out of demand growth just as oil companies sink billions into plastic and chemicals assets. Royal Dutch Shell …

Bloomberg South Africa’s government is being sued for failing to crack down on some of the world’s worst air pollution emitted by power plants operated by Eskom Holdings SOC Ltd. and refineries owned by Sasol Ltd. The case was filed in the Pretoria High Court by groundWork, an environmental-rights organisation, and the Vukani Environmental Justice Movement in Action, according to …

Bloomberg Russia’s strong natural gas shipments to Europe may be an attempt to test the resilience of US exporters, according to Citigroup Inc. Shipments this year from Russia have helped boost European gas storage to near full capacity and exace- rbated the regio- n’s oversupply, the bank’s analysts including Ed Morse wrote in a June 9 report. One motivation for …