Bloomberg There may never be a new refinery built in the US despite surging gasoline prices as policymakers move away from fossil fuels, according to Chevron Corp. “We haven’t had a refinery built in the United States since the 1970s,” Chief Executive Officer Mike Wirth said in an interview on Bloomberg TV. “My personal view is there will never ...

  Bloomberg Talks between South Africa’s beleaguered power utility Eskom Holdings SOC Ltd and its biggest labor unions on wages have reached a stalemate, the latest crisis for the utility that’s struggling to boost electricity supply. The unions “responded with dismay” after negotiations failed to reach a conclusion during the final round. That’s when Eskom highlighted that it was unprofitable ...

  Bloomberg Trafigura Group posted record first-half profit, even after Russia’s invasion of Ukraine forced the commodities giant to pare back its activities as trading risk soared. Wild swings in prices and arbitrage opportunities helped to deliver net profit of $2.7 billion in the six months through March, Trafigura said in a report. At the same time, the war sharply ...