News

Bloomberg C2 Energy Capital LLC, a New York-based clean-energy developer, raised $21 million to invest in new projects. About half of the money raised for the C2 Taiyo Fund I LP fund is already committed to specific projects. The fund will target renewables and storage investments, including a 51-megawatt solar portfolio being built in South Carolina. C2 develops, owns and ...

Bloomberg Forget Asian hunger for energy or where liquefied natural gas (LNG) costs the most, at the moment it’s all about tanker rates. Northwest Europe has seen a boom in LNG imports this month, with cargoes arriving from atypical sources including Peru and Egypt, while the US and Russia are also sending tankers into the most liquid gas market outside ...

Bloomberg Steelmakers in China and the rest of the world need to do more to reduce overcapacity, according to Guido Kerkhoff, CEO chief executive officer of Germany’s ThyssenKrupp AG. While China made good progress in curbing over-production, there’s room for even more cuts, Kerkhoff said. China has reshaped industry in past three years by closing plants, tightening environmental controls and ...

Bloomberg Chinese firms combating tight funding conditions are bracing for the next shoe to drop: a record amount of perpetual bonds up for redemption. Some 48.9 billion yuan ($7 billion) of perpetual notes will have first call dates this quarter, which means they either have to repay the debt or be forced to increase interest rates by as much as ...

Bloomberg Bharti Airtel Ltd., India’s second-biggest wireless carrier, is delaying a planned initial public offering of its Africa unit due to the turmoil in emerging-market stocks, people with knowledge of the matter said. The company, which was originally aiming to list the unit in London by March, has pushed back the share sale by about half a year, according to ...

Bloomberg Philippine authorities started to move people to safer grounds as Typhoon Yutu approaches, tracking a path similar to last month’s storm that devastated rice-producing provinces in the main island of Luzon. Yutu, which last week became the strongest storm since 1950 to hit the US territories in the Northern Mariana Islands, is now the equivalent of a Category 2 ...

Bloomberg Hong Kong’s new-home sales cooled, another sign of weakness in a property market that may be at risk of a correction. The transaction value so far in October is HK$11.2 billion ($1.4 billion), the lowest level in 16 months once holiday distortions are excluded. The number of transactions stood at 1,130, down by almost half from the total for ...

Bloomberg The world’s largest healthcare program in India is running up against a challenge: many of its 500 million beneficiaries don’t have a clue about it, as they didn’t have to enroll for it. Prime Minister Narendra Modi’s solution is to tackle the problem at its roots. He is writing letters to 100 million families educating them about the benefits ...

Bloomberg IBM’s $33 billion purchase of Red Hat Inc — the world’s second-largest technology deal ever — is aimed at catapulting the company into the ranks of the top cloud software competitors. The cash deal, IBM’s biggest by far, boosts the 107-year-old computer-services giant’s credentials overnight in the fast-growing and lucrative cloud market — and gives it much-needed potential for ...

Bloomberg Nokia Oyj has been identified as the biggest individual recipient of potentially illicit funds relating to money laundering allegations against Nordea Bank Abp, according to investor Bill Browder. As much as $97.2 million that may have been laundered ended up in Nokia’s accounts at Nordea, according to a document focussing on potentially illicit transactions in Finland and sent by ...