Bloomberg To the envy of plane-weary travellers everywhere, passengers aboard a Norwegian Airlines flight from New York to London were treated to a pleasant surprise: They arrived 53 minutes ahead of schedule, making theirs the fastest transatlantic flight ever recorded on a subsonic commercial aircraft. The final flight time: five hours and 13 minutes. The good time came thanks to …

Bloomberg Coca-Cola Co. CEO James Quincey is kicking off a recycling spree, part of efforts to burnish the beverage giant’s image. The soft-drink company, which operates in more than 200 countries, is setting the goal of recycling one bottle or can for everyone it sells by 2030. It’s also pledging to become a corporate leader in reducing the plastic waste …

Bloomberg India’s biggest oil and gas explorer has widened its first debt-raising plan to as much as $5.48 billion to buy state-run refiner Hindustan Petroleum Corp. Oil & Natural Gas Corp’s board has approved raising as much as 350 billion rupees in loans to buy the government’s 51.1 percent stake in HPCL, Chairman Shashi Shanker said in New Delhi. That …

BAGHDAD / Reuters Iraq agreed a deal with US energy company Orion on Monday to process natural gas extracted at its giant Nahr Bin Omar oilfield. The memorandum of understanding, signed in Baghdad by representatives of the oil ministry and the US company, will allow Orion Gas Processors to build facilities to capture the gas from the field located in …

Bloomberg Libya’s powerful black market traders are encountering an unfamiliar sight: people showing up with bundles of dollars for sale. Rising oil prices have relieved financial pressure on Libya, allowing authorities to channel more dollars to importers since the start of the year. Meanwhile, the central bank has eased restrictions on currency transfers that had made the black market the …

Bloomberg Brent crude steadied after Saudi Arabia and Russia pledged to continue supply cuts. Futures rose as much as 0.5 percent in London before paring those gains. Output limits should remain through 2018 as rebalancing may be achieved next year, Saudi Arabia’s Energy Minister Khalid Al-Falih said in a Bloomberg television interview held with his Russian counterpart. Russia is prepared …

Bloomberg Philadelphia Energy Solutions LLC, owner of the largest oil refinery serving the New York Harbor gasoline and diesel market, filed for Chapter 11 bankruptcy protection. The company, a joint-venture between The Carlyle Group LP and a subsidiary of Energy Transfer Partners LP, filed a petition in US Bankruptcy Court in Delaware. Chief Executive Greg Gatta said in a memo …

DUBAI / Reuters Saudi Arabia has asked banks for proposals to refinance its $10 billion international syndicated loan and to help the sovereign raise funds through other means, the country’s debt management office said. In addition to the req- uest for proposals (RFP) on the loan refinancing, the government has issued RFPs covering further US dol- lar debt capital market …

Bloomberg UBS Group AG investors were left underwhelmed by the bank’s first share buyback since the credit crisis and rejigged financial targets. The stock declined the most since July after the Zurich-based bank downgraded a key profitability target, as well as paring back forecasts for its asset- management business and net new money at its combined wealth-management unit. The bank …

Bloomberg The Central Bank of Nigeria won’t hold its rate-setting meeting scheduled for Monday and Tuesday because lawmakers have yet to approve monetary policy committee members, leaving the body unable to form a quorum. The bank will “maintain key monetary policy variables” at levels decided in November, Governor Godwin Emefiele said in an emailed statement, effectively leaving the key interest …