News

Bloomberg EON SE agreed to acquire Innogy SE from German rival RWE AG, transforming the energy industry as Europe’s largest economy continues its switch to renewable power. In a complicated deal involving shares and asset swaps, EON SE will emerge with the retail and network businesses of both companies, while RWE will end up owning the combined renewable generation businesses ...

Bloomberg Across Britain, energy companies are hoping that Brexit just might just go away. Energy has only been a sideshow in the discussions about the UK leaving the European Union even though it’s a key part of the trade bloc’s single market. Power and natural gas companies say Britain’s existing relationship with the bloc on energy matters should remain in ...

Bloomberg Oil trading giants including Glencore Ltd. and Vitol SA paid millions of dollars to a former PDVSA trader to get the inside track on Venezuelan oil deals, according to a lawsuit filed by a trust for Petróleos de Venezuela SA. The alleged conspiracy, which includes more than two dozen companies and individuals, even has a name worthy of a ...

Reuters Bahrain-listed Investcorp plans to launch a $100 million fund dedicated to Oman’s pension funds, the alternative asset manager said on Sunday. Investcorp’s new fund will focus on private equity investments in the United States and Europe, the company said in an emailed statement, and will target mid-sized companies across a broad range of sectors. Investcorp, which manages more than ...

Bloomberg Inflation is getting a fresh look in Asia. Nowhere is the global e-commerce wave having more of an impact right now than in Asia, where the region’s burgeoning middle class is embracing clicks over mortar and companies are scrambling to meet their demand via new ventures or acquisitions. In the process, old methods of measuring prices based on the ...

Bloomberg Daimler AG said future collaboration with its new largest shareholder Li Shufu will hinge on keeping the manufacturer’s existing Chinese partner on board. Li, whose holdings include Sweden’s Volvo cars and China’s Geely brands, emerged with a 9.7 percent holding in the world’s biggest luxury carmaker. The Chinese billionaire held initial talks with Daimler Chief Executive Dieter Zetsche, discussing ...

Bloomberg Australian Minister for Trade and Investment Steven Ciobo denied that Australia struck a security agreement with the US to get exempted from tariffs on steel and aluminum announced by President Donald Trump. “Ultimately, we have a very healthy trade and investment relationship with the United States, especially the type that President Trump likes, and off the back of that ...

Bloomberg Renault SA is deepening a partnership with Alibaba Group Holding Ltd. to boost sales in China, a market the French carmaker is counting on as the biggest growth pillar in the coming years. As part of Renault’s push, Chinese consumers will be able to buy the company’s cars online through Alibaba’s Tmall service, Francois Provost, head of the automaker’s ...

Bloomberg Uber Technologies Inc has named India’s cricket captain—one of the world’s most expensive sports celebrities— as brand ambassador, signaling that while it may be ceding ground in Southeast Asia, it’s still trying to grow in the subcontinent. Virat Kohli would be its first brand ambassador in India in a “one of its kind initiative across the Asia Pacific region”, ...

Bloomberg Hua Medicine Ltd., a Shanghai-based developer of diabetes drugs, has picked Hong Kong over the US for its initial public offering as the Asian financial hub makes a push for biotech listings, people with knowledge of the matter said. The biotech drug developer is working with advisers Goldman Sachs Group Inc., CLSA Ltd. and UBS Group AG on a ...