Bloomberg The European Union (EU) is planning urgent action to try to dampen soaring power prices and is putting together proposals to reform the electricity market, according to Commission President Ursula von der Leyen. “Skyrocketing electricity prices are now exposing, for different reasons, the limitations of our current electricity market design,” von der Leyen, who heads the EU’s executive body, …

Bloomberg French utility Engie SA is closing in on an agreement with Algeria for an increase in imports of natural gas, a deal that could come after an official visit to the country by President Emmanue Macron. “Diplomatic negotiations are ongoing,” government spokesman Olivier Veran said on BFM TV, adding that an announcement could come shortly. Europe 1 radio first …

  Bloomberg Walmart Inc plans to take Massmart Holdings Ltd. private and will promote the unit’s chief operating officer to head of the company as it prepares to renew its focus on South Africa. The global retail giant plans to buy all of the shares it doesn’t already own of Massmart for 62 rand ($3.65) apiece, a 53% premium to …