Bloomberg Energy executives say the fuel Chancellor Angela Merkel has picked for Germans as a bridge towards a cleaner future could turn out to be another dead end without political guarantees to draw investment. “I can’t imagine a rational investor who would invest in large-scale gas capacity” without government assurances, said Uniper SE Chief Executive Officer Klaus Schaefer in Berlin. ...

Bloomberg A US judge threw out New York’s lawsuit seeking to hold five of the world’s biggest oil companies financially responsible for contributing to climate change. US District Judge John Keenan dismissed the city’s claims against Exxon Mobil Corp, Chevron Corp, BP Plc, Royal Dutch Shell Plc and ConocoPhillips, ruling that the federal Clean Air Act controls carbon dioxide emissions ...

Bloomberg European utilities fell after UK energy company SSE Plc said the dry, mild weather that cut quarterly profit could hurt full-year results. The Stoxx Europe 600 Utilities index dropped to a two-week low, led by Orsted AS, the world’s biggest offshore wind-farm developer. SSE, the second-worst performer, fell the most since May and UK energy supplier Centrica Plc slumped ...

Bloomberg The Trump administration’s plan to subsidise unprofitable coal and nuclear plants may cost as much as $35 billion a year, according to a study backed by trade groups opposed to the idea. Giving power plants an out-of-market annual payment of $50 per kilowatt of capacity — roughly the average operating shortfall for plants running at a deficit — would ...

Bloomberg Indonesia’s central bank left its benchmark interest rate unchanged after three hikes in a row helped to stabilize the currency in Southeast Asia’s biggest economy. The seven-day reverse repurchase rate was held at 5.25%, in line with forecasts of 25 of 28 economists surveyed by Bloomberg. Governor Perry Warjiyo said the policy stance remains “hawkish” with the central bank’s ...

Bloomberg Bank of Japan (BOJ) Governor Haruhiko Kuroda stuck to the bank’s playbook, declining to comment on reports that policy makers are considering measures to soften the side effects of their aggressive monetary easing campaign. Remarks on the issue wouldn’t be appropriate given the proximity of the bank’s monetary policy meeting, Kuroda said, adding that any policy decision will require ...

Bloomberg Lloyds Banking Group Plc may set aside hundreds of millions of pounds in the second quarter to compensate customers improperly sold payment protection insurance as claims continue to flood in. The redress costs will add to about 18 billion pounds ($23 billion) already booked by Britain’s biggest mortgage lender since the start of the scandal. Analysts at Morgan Stanley ...

Bloomberg The European Union’s bank-failure rules are forcing Austria’s Volksbanken to open up the lending tap, a strategy reminiscent of the one that nearly brought down the cooperative group a few years ago. The irony has arisen because the EU requires banks to have sufficient loss-absorbing liabilities on their books to cover the costs of their restructuring and refinancing in ...

Bloomberg China’s banks are being offered cash and given instructions to lend more, as regulators attempt to support a slowing economy. The banking and insurance regulator has asked financial institutions to “earnestly implement” plans to help reduce financing costs for small firms, saying that big lenders should “take the lead”, according to a statement posted on its website. Meanwhile, the ...

Bloomberg The economy of South Korea, which is very reliant on China, may see more adverse impact than previously expected from China’s plan for deleveraging, the Bank of Korea said in a report on Sunday. South Korea’s gross domestic product growth could be 0.3 percentage point less than expected in 2018 and maybe 1.2 percentage point less in 2020 because ...