Bloomberg Oil climbed to the highest level since early March in London as hopes for an economic recovery from the coronavirus crisis lifted financial markets. Brent futures rose 2.8% as European Union leaders agreed on an unprecedented stimulus package to pull their economies out of the worst recession in memory, while results of early trials of a virus vaccine developed …

Bloomberg Vattenfall AB took a massive hit on the value of a new German coal plant in yet another sign of how the fossil fuel is struggling in Europe. The Swedish utility wrote down the value of the Moorburg facility in Hamburg by 9.1 billion kronor ($1 billion), according to its first-half earnings statement on Tuesday. The plant opened in …

Bloomberg India’s Vikram Solar Ltd is planning to invest 54.32 billion rupees ($726 million) to make solar energy equipment in the South Asian country, which is encouraging domestic manufacturing to reduce imports. The company will build a factory in the southern Tamil Nadu province, the state government said. The 3-gigawatt plant, expected to be completed in five years, will make …