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LONDON / Reuters Royal Dutch Shell defended its ambition to cut carbon emissions on Monday, urging investors to oppose a shareholder resolution arguing that the oil and gas giant is not doing enough to meet international targets to tackle climate change. The Anglo-Dutch company, like many of its peers, has faced growing investor pressure to address the need to reduce ...

KUWAIT / Reuters Kuwait’s oil minister said on Monday a pact between OPEC and non-OPEC producers to curb supplies would run to the end of the year and market conditions would determine whether to extend it further. Bakhit al-Rashidi also said the meeting of the Organization of the Petroleum Exporting Countries in June in Vienna would offer a chance to ...

AMSTERDAM / Reuters A fight over the planned privatisation of Dutch energy company Eneco resurfaced on Monday as its works council called for an inquiry after the company announced that its CEO will step down in September. A large majority of the company’s 53 municipal shareholders voted in October to privatise Eneco, while CEO Jeroen de Haas and works council ...

SYDNEY / Reuters Chevron Corp will proceed with the second stage of its giant Gorgon liquefied natural gas (LNG) export plant off the northwest coast of Western Australia, the company said. Chevron and its joint venture partners plan to sink 11 new wells in the Gorgon and Jansz-Io fields and build offshore pipelines and subsea structures to pipe the gas ...

Bloomberg Yet another Chinese technology company is headed for an initial public offering (IPO). Meilishuo, the online fashion retailer backed by Tencent Holdings Ltd., is in talks with several investment banks about a US initial public offering that could value the startup at about $4 billion, according to people familiar with the matter. The women-focussed online retailer hosted a bake-off ...

Bloomberg Honda is finally planning to open its newest factory in Brazil, idle since it was built in 2015. But not for the reason they originally intended. The carmaker built the Itirapina, São Paulo, plant for 1 billion reais ($290 million) with the plan of doubling its capacity in the country. Instead, the automaker will transfer operations to the facility ...

Bloomberg Ola, Uber Technologies Inc.’s fiercest Indian competitor, wants to roll out 10,000 electric three-wheeled rickshaws within a year and a million battery-powered vehicles by 2021. The startup run by ANI Technologies Pvt said it’s in policy discussions with several state governments, and is talking with potential partners from automakers to battery producers. It aims to build out an existing ...

Bloomberg Metropolis Healthcare Ltd., an operator of medical diagnostic centres backed by Carlyle Group LP, is considering an initial public offering to raise about 15 billion rupees ($230 million) as it seeks acquisitions. The sale will likely include a partial stake held by the founders as well as new shares, Managing Director Ameera Shah, 38, said in an interview. A ...

Bloomberg In the race to build cars with digitally connected services — such as ordering coffee on the dashboard display — Toyota Motor Corp. and Nissan Motor Co. risk being held back by their home market. In contrast to vehicle buyers in the US and Europe, Japanese consumers are reluctant to pay for such features. That’s resulted in only 10 ...

Bloomberg Shire Plc agreed to sell its cancer unit to France’s Servier SAS for $2.4 billion, tightening the US-based drugmaker’s focus on rare diseases and potentially making it more attractive to Takeda Pharmaceutical Co. as it considers a bid. The Shire unit sells treatments for leukemia and pancreatic cancer, the Lexington, Massachusetts-based company said in a statement on Monday. The ...