Over the past month, campaigners have been celebrating moves to get the world’s biggest oil companies to address climate change. In the US, shareholders of Exxon Mobil Corp overruled top management to appoint new board members dedicated to accelerating the firm’s transition away from fossil fuels. At the same time, in Europe, a court in The Hague ruled that Royal ...

Bloomberg Europe’s biggest airlines are seeking to deflect moves to tighten carbon curbs by favouring a less robust offsetting program, according to climate watchdog InfluenceMap. Carriers are pushing to retain the Carbon Offsetting and Reduction Scheme for International Aviation over the European Union’s more rigorous Emissions Trading System, the think tank-said. While Corsia was developed by the United Nations-mandated International ...

Bloomberg The aircraft that broke down the door to intercontinental flying for the masses has a new mission: lugging as many German tourists as possible on the short-haul hop to Mallorca. Deutsche Lufthansa AG will deploy 364-seat Boeing Co 747-8s on two-hour trips from Frankfurt after looser coronavirus curbs spurred bookings 25-fold since April, it said. The jet will ply ...

Bloomberg South Africa agreed to sell a majority stake in the country’s grounded national carrier to a local jet-leasing company and private-equity firm, ridding the government of an entity that has long been a drain on state finances. A consortium comprised of Johannesburg-based Global Airways, which owns recently launched domestic airline Lift, and private-equity firm Harith General Partners will take ...

Bloomberg McDonald’s Corp said hackers accessed some customer data in South Korea and Taiwan, adding the fast-food chain to the growing list of companies grappling with cyberattacks in recent weeks. After discovering unauthorised activity on its network, the company determined that “a small number of files were accessed, some of which contained personal data,” according to an emailed statement. The ...

Bloomberg Russian President Vladimir Putin suggested that in spite of heightened tensions with the US over cyberattacks and his treatment of dissidents, he may be able to work with President Joe Biden in part because he’s more predictable than Donald Trump. “That’s a different kind of person and it is my great hope that, yes, there are some advantages, some ...

Bloomberg After more than a year of near-empty skyscrapers and virtual conferences, the City of London is hoping the UK government’s latest lockdown guidance next week will help kickstart a more widespread return to the office. Banks including Goldman Sachs Group Inc and JPMorgan Chase & Co have told UK-based staff that workers should ready themselves for a gradual return ...

Bloomberg Japan’s biggest bank is planning to plow about $9 billion into a new investment team that will look to buy credit, equities and alternative assets in a bid to lift investment returns. Mitsubishi UFJ Financial Group Inc expects to begin buying the assets in the second half of this year that will likely focus on US securities, said the ...

Bloomberg Credit Suisse Group AG cancelled a plan to back star trader Hamza Lemssouguer’s credit fund in a stunning about-face as it dials back risk after the implosion of Archegos Capital Management and Greensill Capital. The Swiss lender agreed with Lemssouguer that he should take his Arini European Credit fund outside the bank, according to an internal memo seen by ...

Bloomberg Deutsche Bank AG warned of a 300 million-euro ($365 million) hit after a German court allowed some clients to challenge higher fees, adding to headwinds for Chief Executive Officer Christian Sewing as he enters the second half of his turnaround plan. Germany’s largest bank will book 100 million euros in provisions in the current quarter because of the ruling, ...