Bloomberg Toyota may stop manufacturing in the UK because of a government policy that mandates a rapid switch to fully electric vehicles, the Times of London reported. The company told Transport Secretary Grant Shapps about its concerns for the plan’s transition phase, which bans new gasoline and diesel cars from 2030. While hybrid vehicles will be allowed until 2035, …

Bloomberg Oil headed for the biggest weekly loss in almost two years after the Biden administration ordered an unprecedented release of the US strategic reserves to tame rampant prices. West Texas Intermediate futures swung between gains and losses Friday, and were down about 13% this week, the most since April 2020. The US plans to release 1 million barrels a …

  Bloomberg South Africa’s plan to add an estimated $6.5 billion worth of private power generation has been further delayed as the nation continues to suffer from intermittent power outages. The signing of power purchase agreements by preferred bidders for the 2,000 megawatt risk mitigation, or emergency power, program was postponed due to “outstanding matters and conditions” with state-owned electricity …