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Bloomberg Negotiators from almost 200 countries clinched a deal that seeks to keep the most ambitious goal of the Paris Agreement alive, breaking new ground in the fight against climate change but punting the hardest decisions into the future. After two weeks of often fraught United Nations COP26 talks, delegates agreed to reduce the use of coal, end “inefficient” fossil-fuel …

Bloomberg French energy giant Engie SA entered exclusive talks to sell its services unit Equans to conglomerate Bouygues SA for 7.1 billion euros ($8.2 billion) in what would be one of the country’s largest deals this year. “Bouygues’ offer was the most compelling taking into account all criteria including financial valuation,” Engie, based near Paris, said in a statement. Bouygues …

Bloomberg The Royal Dutch Shell Plc is looking into developing a production site next to a Swedish nuclear power plant to make synthetic sustainable jet fuel for Scandinavian airline SAS AB. Together with plant operator Vattenfall AB and synthetic fuel maker LanzaTech Inc, the companies agreed to investigate starting a facility that could provide SAS with a quarter of its …

Bloomberg India is seeking payment for the losses caused by climate disasters, its environment ministry said while laying out the country’s positions on critical issues that will be negotiated at the United Nations’ COP26 climate summit in the coming weeks. “Our ask is this: there should be a compensation for expenses incurred, and it should be borne by developed nations,” …

Bloomberg Singapore is offering assistance to power retailers and promising safeguards for customers as skyrocketing prices strain its nascent open electricity market. At least two power providers have announced they will cease retail operations after wholesale prices surged to a record last week. The government is offering help in hedging against volatility for those who want to continue operations, the …

Bloomberg UK power prices rose after a coal power plant switched on Monday to make up for a shortfall in wind generation and limited flows on two power cables to Ireland. Britain is set to end the use of coal within three years and to make power generation fossil fuel-free by 2035. For now the nation is still reliant on …

Bloomberg The energy crisis, the coming winter weather and the release of pent-up pandemic demand have sent nations scrambling to stockpile fossil fuels, a move that portends a rebound for global carbon dioxide emissions this year. The trajectory poses a new threat to the Paris Agreement goal of limiting global temperature increases to 1.5° Celsius. China, India and other developing …

Bloomberg UK oil-service provider Petrofac Ltd must pay a $95 million penalty by a London judge for failing to prevent bribery between 2011 and 2017. The penalty includes a $64 million fine and a $31 million confiscation order. The levy comes after the company pleaded guilty to seven bribery offenses, in a deal with the UK’s Serious Fraud Office (SFO). …

Bloomberg India’s coal power giant NTPC Ltd expects to raise $2 billion through initial public offerings in three units including its renewables business, and the paring of a joint venture stake, according to a company official familiar with the plans. The state-run generator plans to sell shares in NTPC Renewable Energy Ltd within a year, the official said, asking not …

Bloomberg US household net worth surged to a fresh record in the second quarter as Americans enjoyed an ebullient stock market and largest-ever increase in value of their real estate holdings. Household net worth increased by $5.8 trillion, or 4.3%, to $141.7 trillion in the second quarter, a Federal Reserve report showed. The advance included a $3.5 trillion gain in …