Bloomberg A giant wind farm being developed off the coast of the UK will sell some of its power to energy trader Danske Commodities A/S. Under the 15-year deal, the subsidiary of Equinor ASA will trade and balance power from 480 megawatts of the Dogger Bank wind farm, about 13% of its capacity. It’s a key step as the developers ...

Bloomberg Iraq plans to sign a memorandum of understanding with Chevron Corp to explore for oil in the country’s southern province of Dhi Qar, according to a person familiar with the matter. The deal formalises Chevron’s interest in exploring the eastern and western parts of Nasiriyah, the capital of Dhi Qar, the person said. It would exclude areas of the ...

“This is what collusion looks like.” That is how five Democratic senators, including vice presidential nominee Kamala Harris, view the fifth and final volume of the Senate Intelligence Committee’s report on Russian interference in the 2016 election. Their argument rests on new evidence, which they say shows that Paul Manafort, former campaign manager for President Donald Trump, “was directly connected ...

Long after the spring spike of pandemic-related pantry loading and panic buying, Walmart Inc is still benefiting from all the ways Covid-19 has reshaped consumer needs and spending patterns. And yet, even as the mega-retailer unveiled another strong quarterly performance, the underpinnings of its results should serve as a wake-up call to Washington: More government stimulus is urgently needed because ...

When finance types talk about internal combustion engines, they often just use the abbreviation ICE. It’s an appropriate name: Investors have a frosty view of car companies that depend on petrol or diesel to power their vehicles. Volkswagen AG, the world’s biggest auto maker by sales, has a market value of 73 billion euros ($87 billion), or about 6.5 times ...

Europe’s youth have found an unlikely hero. Mario Draghi, former president of the European Central Bank (ECB), has used his first major speech since his departure from that role to underline the plight of Europe’s youngest generations. At a time of deep uncertainty about the future, and facing accusations of driving recent spikes in infections, teenagers and twentysomethings can use ...

Bloomberg Bain Capital’s resurrection of collapsed airline Virgin Australia Holdings Ltd faces mounting legal opposition as bondholders rally to derail the takeover and salvage some of their debt. What started weeks ago as a long-shot challenge to Bain’s deal from two little-known investors in Asia has attracted the biggest names in finance. Now UBS Group AG, Deutsche Bank AG and ...

Bloomberg Boeing Co is preparing to offer buyouts to employees for a second time this year as the virus-stricken planemaker extends its workforce cuts beyond the original 10% target unveiled in April. The “voluntary layoff” will be offered largely to staffers in the company’s commercial airplanes unit, services division and corporate operation, CEO Dave Calhoun said in a message to ...

Bloomberg Ryanair Holdings Plc, Europe’s biggest discount carrier, slashed capacity for September and October after demand weakened, and other carriers are weighing similar cuts following a European surge in new virus cases. The Irish discount carrier will reduce the number of flights by 20% in the next two months due to uncertainty among travellers driven by a rise in Covid-19 ...

Bloomberg Marks & Spencer Group Plc plans to cut about 7,000 jobs after its clothing business was hit hard by the coronavirus lockdown, adding to the toll of lost employment in the UK retail industry. The move to eliminate about one-tenth of the store chain’s workforce follows a 39% plunge in the clothing and home arm’s sales in the latest ...