Bloomberg South Africa wants coal producers to help debt-stricken state power utility Eskom Holdings SOC Ltd. tackle its skyrocketing costs of the fuel — a problem that’s largely of its own making. Eskom traditionally signed so-called “cost-plus” contracts for coal with mining companies that managed and operated shafts the utility helped finance. In 2015 then-Chief Executive Officer Brian Molefe criticized ...

Bloomberg China National Petroleum Corp. (CNPC) is no longer a partner in Iran’s biggest natural gas project, and the Persian Gulf nation will develop Phase 11 of the giant South Pars field on its own, Oil Minister Bijan Namdar Zanganeh said. CNPC was the only international partner left in the project, after Total SA of France withdrew last year when ...

Bloomberg President Donald Trump’s decision to step aside from Kurdish allies in Syria while Turkey’s military advances drew a stark rebuke on Monday from one of his staunchest Republican backers. “This is going to lead to the reemergence of IS, and the biggest winner of all this will be the Iranians, and that’s too bad,” Senator Lindsey Graham told Fox ...

Bloomberg Rwandan rebels staged a rare attack in the northern mountainous region known for gorilla trekking, killing at least 14 people, the National Police said. Authorities killed 19 attackers and arrested five, who the police said are members of Forces for the Liberation of Rwanda (FDLR), a rebel group based in the neighbouring Democratic Republic of Congo. All visitors to ...

Bloomberg Acting PM Pedro Sanchez painted himself as the voice of moderation in Spanish politics as the country braces for an election campaign in the shadow of forthcoming verdicts in a trial of Catalan separatists and international disputes over trade and Brexit. “I humbly ask people to think who can guide our country with moderation towards progress,” Sanchez said in ...

Bloomberg Tunisia counted votes from the parliamentary elections, as an exit poll suggested a moderate radical party will get the most ballots while falling short of the majority needed to form a government. Polling by local firm Sigma Conseil showed Ennahda winning with 17.5% of votes, with Heart of Tunisia — the party of jailed TV mogul Nabil Karoui — ...

Bloomberg The winner of Kosovo’s snap election struck a defiant tone towards Serbia, foreshadowing more of the acrimony that has kept the two neighbours from clearing a key hurdle on their path to membership in the European Union. Albin Kurti, whose Self-Determination Movement won, said that in talks with Belgrade his new government would focus on a historic “debt that ...

Bloomberg Prospects of a Brexit deal faded after talks between the two sides stalled and European leaders cast doubt on reaching an agreement in time for the October 31 deadline. French President Emmanuel Macron and Irish Prime Minister Leo Varadkar both signalled they want progress by Friday, adding to a sense that time is running out for the two sides ...

Bloomberg HSBC Holdings Plc may eliminate as many as 10,000 jobs as part of a cost-cutting drive, according to a Financial Times report that signalled Europe may bear the brunt of the initiative. The plan would result in a substantial reduction in HSBC’s workforce of about 238,000, the FT said, citing two people briefed on the matter. The bank, one ...

Bloomberg Euro-area stocks would stand to gain more from a Brexit deal by the end of this month than UK shares, JPMorgan Cazenove strategists said. While such a scenario would be bullish for domestic British companies, a strengthening of the pound would take away much of the upside for UK equities, strategists led by Mislav Matejka wrote in a note. ...