Bloomberg Iran is about to burn a lot more fuel oil as a result of US sanctions and new global shipping rules, reversing the nation’s progress in switching to cleaner-burning natural gas. Power plants and other industrial facilities will burn more than 200,000 barrels a day of highly polluting fuel oil next year, double the amount Iran used in 2018, ...

Bloomberg After years pouring funds into the shale boom, bond buyers are getting increasingly selective as defaults rise and many explorers continue to burn more cash than they make. While Exxon Mobil Corp. and Occidental Petroleum Corp. have recently sold a combined $20 billion of investment-grade debt, junk rated issuers are getting a far different market reception. High-yield energy companies ...

Bloomberg President Donald Trump stepped up his assault on the Federal Reserve, urging it to cut interest rates by a full percentage point to aid global growth while complaining the “dollar is so strong that it is sadly hurting other parts of the world.” “The Fed Rate, over a fairly short period of time, should be reduced by at least ...

Bloomberg The German government is getting ready to act to shore up Europe’s largest economy, preparing fiscal stimulus measures that could be triggered by a deep recession, according to two people with direct knowledge of the matter. The program would be designed to bolster the domestic economy and consumer spending to prevent large-scale unemployment, said the people who asked not ...

Bloomberg Ares Management Corp. has raised its largest European real estate fund yet, with plans to target distressed and poorly managed assets. Ares EF V gathered 1.78 billion euros and will be managed by the firm’s property unit, Ares Real Estate Group, headed by Bill Benjamin, company executives said. About 40% has already been committed to nine investments including a ...

Bloomberg Fallout from a deadly wildfire that swept across Northern California in 2017 and pushed PG&E Corp. towards bankruptcy has returned to once again haunt the utility giant, pummeling its shares. A US Bankruptcy judge lifted a freeze on $18 billion in legal claims tied to the blaze, which killed 22. While state investigators cleared PG&E of responsibility for the ...

Bloomberg British manufacturers recovered slightly in August but export demand remains weak, according to a survey by the Confederation of British Industry. Small to medium businesses suffered more than large ones. Around half of those with fewer than 500 employees said order numbers were below par, compared to just 6% of larger companies. Industrial output was dragged heavily by paper, ...

Bloomberg Wood Plc has agreed to sell its nuclear business for 302 million, as it cuts debt associated with the 2017 acquisition of Amec Foster Wheeler Ltd. and a prolonged oil-price slump. The Scottish engineering and services business will sell the unit to a subsidiary of Jacobs Engineering Group Inc., and expects the deal to close in the first three ...

Bloomberg National Grid Plc will investigate how to better incorporate the UK’s increasing share of renewable energy in the power mix after a blackout earlier this month saw more than one million homes lose power. The probe was sparked by the August 9 blackout, that also caused havoc on the transport networks, after a lightening strike north of London led ...

Bloomberg US President Donald Trump spoke separately with the leaders of India and Pakistan in a bid to calm tensions between the nuclear-armed neighbours over a territorial dispute. Indian Prime Minister Narendra Modi has kept Kashmir under lockdown for more than two weeks after scrapping the region’s autonomy, a move condemned by Pakistani Prime Minister Imran Khan. Both nations claim ...