Bloomberg South Africa is experiencing an unprecedented level of power blackouts. Eskom Holdings SOC Ltd. cut 7,045 megawatts from the grid — a move to prevent a total shutdown of the national grid — spokesman Sikonathi Mantshantsha said in a Tweet. He confirmed that the intensity of power cuts increased to the so-called Stage 7 of loadshedding, as the ...

Bloomberg European gas prices rose amid expectations of higher demand from power producers, after a recent slump improved the profitability of the fuel compared to coal. Benchmark futures have been fluctuating near €50 over the last few days after plunging about 35% since the start of the year. Together with surging carbon prices, that could rein in an increased reliance ...

  Bloomberg Eni SpA posted a record annual profit due to high oil and gas prices, despite its fourth quarter missing estimates. The Italian energy giant followed its peers with stellar earnings for 2022, after Russia’s invasion of Ukraine sent the value of key commodities soaring. Eni’s fourth-quarter adjusted net income was €2.5 billion ($2.6 billion), missing the average analyst ...

  Bloomberg Even as solar power grows into one of the world’s largest sources of new energy, the industry behind it is facing unprecedented volatility as a battle for profits intensifies. The roller-coaster ride is best seen through the lens of polysilicon, the key material in solar panels. Prices fell more than 40% over the course of a few weeks ...

  Bloomberg The UK needs to advance its green finance agenda or risk falling behind as rivals pursue ambitious regulatory and subsidy programs, according to an expert panel advising the government. The nation’s Green Technical Advisory Group (GTAG) said the government should provide clarity to investors on what a green investment is through a so-called taxonomy. The UK’s rules should ...

  Bloomberg Alphabet Inc’s Google urged employees to discuss sensitive topics via chats that would be automatically deleted after 24 hours and the company should face penalties for failing to preserve records needed for an antitrust suit, Justice Department lawyers told a federal court. Google assured the government’s lawyers that it was maintaining all records starting in November 2019, according ...

  Bloomberg Space-launch company United Launch Alliance (ULA) delayed the debut flight of its next-generation rocket, Vulcan, by at least a month to early May. Vulcan will be ready by mid-April but the mission’s main payload, a lunar lander built by Astrobotic Technology, can only launch within short, specific time windows each month, the company said in a press conference. ...

  Bloomberg Beyond Meat Inc surged in late trading after reporting fourth-quarter sales that exceeded expectations and the plant-based meat maker showed progress towards its goal of becoming profitable. Fourth-quarter revenue of $79.9 million was above the average estimate of $75.7 million compiled by Bloomberg. It surpassed expectations in US sales to retailers and restaurants, as well as in international ...

  Bloomberg Ericsson AB, one of the world’s biggest providers of 5G networking equipment, plans to cut 8,500 staff worldwide to reduce expenses after the market for its telecommunications gear stopped growing. The bulk of the cuts at the Swedish maker of mobile networks will take place during the first half of the year, although some will be in 2024, ...

  Bloomberg Domino’s Pizza Inc tumbled the most in more than a decade as delivery woes and softening demand caused fourth-quarter sales to fall short of Wall Street expectations and led management to cut targets for revenue growth. Shares of the pizza chain fell 12%, the steepest slide since 2010, while Papa John’s International Inc, which also reported soft North ...