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 The airline industry’s main lobby group adopted a target of eliminating carbon emissions on a net basis by 2050, a goal that will require balancing the fight against climate change with the need to spur demand in the aftermath of the Covid-19 pandemic. Current airline targets aren’t ambitious enough, International Air Transport Association (IATA) Director General Willie Walsh said …

Bloomberg Qantas Airways Ltd kicked off a process to buy more than 100 new planes worth in excess of $9 billion as it pushes ahead with plans to start ultra-long flights halfway around the globe. The airline will bring in the new aircraft by 2034 to renew its aging domestic fleet of Boeing Co 737-800s and smaller Boeing 717s. Qantas …