Bloomberg Swedish battery-maker Northvolt AB is building a new plant in northern Germany as European car manufacturers accelerate their shift to electric vehicles. The factory, dubbed “Northvolt Drei,” would produce 60-gigawatt hours of battery capacity annually, the company said. Northvolt expects it to produce its first lithium-ion batteries in 2025. The new plant in Germany will boost Northvolt’s overall battery-cell …

  Bloomberg HSBC Holdings Plc promised to “phase down” its financing of the fossil fuel industry, sending a warning to oil and gas clients as the bank works toward its target of net-zero emissions. The step is in line with “what is required to limit the global temperature rise to 1.5 degrees celsius,” HSBC said. Like most of its top-tier …

Bloomberg A further depreciation of the yen won’t be good for Japan’s economy and may prompt a shift in the central bank’s messaging, according to a former Bank of Japan (BOJ) official, speaking after the currency set a fresh low of more than five years. “The yen has already moved a lot compared with last year, so a further weakening …