Bloomberg Organisation of Petroleum Exporting Countries (Opec) again sought to reassure markets after one of its biggest customers complained about the pain of high prices. “There is no cause for alarm,” Opec Secretary-General Mohammad Barkindo said, adding that India had sent a letter bemoaning the state of the oil market. While insisting supplies are sufficient, he neglected to specify how ...

Bloomberg Drax Group Plc agreed to buy some of Iberdrola SA’s power plants for 702 million pounds ($923 million), boosting its clean energy assets in a further shift away from burning coal. The acquisition involves pumped storage, renewable hydro and gas-fired power assets and will increase the utility’s generation capacity by more than 60 percent to about 6.6 gigawatts, Chief ...

Bloomberg HSBC Holdings Plc’s pension manager plans to invest 250 million pounds ($329 million) of its pension scheme into renewable energy infrastructure for wind and solar in the UK, joining around 30 other firms making similar climate change pledges. Amazon.com Inc. also committed to installing 20 megawatts of solar power at depots around the country, while EDF Energy Plc said ...

Bloomberg PG&E Corp. has deliberately left customers in the dark for the first time as a precaution to prevent wildfires from breaking out. Almost 60,000 customers in six counties across the Sierra Nevada foothills and Northern California country were blacked out during a windstorm, according to Melissa Subbotin, a company spokeswoman. About 70 percent of those customers will have electricity ...

Bloomberg India’s bullet train project is moving at the pace of a commuter train instead. A year after the project was kicked off, only 0.9 hectares of land have been acquired out of the 1,400 hectares needed, according to the Indian government company leading the project. The $15 billion facility, the highlight of Prime Minister Narendra Modi’s drive to upgrade ...

Bloomberg There’s no escaping the impact of the US-China trade war, even for countries that stand to benefit from it in the short term, Asia-Pacific Economic Cooperation (Apec) Secretariat Executive Director Alan Bollard said. “The models show a certain amount of trade diverts out of China to Northeast Asia or Southeast Asia,” Bollard said in an interview in Port Moresby, ...

Bloomberg Infosys Ltd.’s shares climbed after the Indian software exporter reported stronger-than-expected net income and sales as investments in higher-margin digital services and automation begin paying off. Asia’s second-largest exporter of software services reported net income of 41.1 billion rupees ($558 million) in the September quarter. That compared with the 40.5 billion-rupee average estimate. Revenue climbed 17.3 percent to 206.1 ...

Bloomberg Gold buyers in India, the biggest market after China, may give jewelry stores a miss in the run-up to the Diwali festival this year because of a surge in domestic prices to the highest level in more than two years. Bullion has climbed in local markets because of a weak rupee, and rising prices just before the celebrations of ...

Bloomberg Malaysia is keeping investors guessing as to what new taxes will be unveiled in next year’s budget. For now, the market is bracing for the worst: capital gains and consumption taxes. Levies on returns from capital investments may worsen stock declines. The benchmark equity index hasn’t recovered from last week’s steepest plunge in four months, after Prime Minister Mahathir ...

Bloomberg A strict immigration policy has helped make Japan one of the world’s oldest and most homogeneous societies. Now, Prime Minister Shinzo Abe’s plan to invite as many as half a million foreign workers is testing the country’s tolerance for change. Abe is preparing to introduce legislation to allow migrants to start filling vacancies next year in sectors worst hit ...