Bloomberg Ryanair Holdings Plc is scrubbing some flights to and from Belgium over the New Year’s weekend because of a strike by cabin crew. The airline was forced to cancel “a small number” of its 2,500 flights into and out of the country on Friday, Saturday and Sunday, Europe’s largest discount carrier said. Brussels South Charleroi airport told customers …

  Bloomberg Solar equipment makers are in a fierce competition to cut wafer prices, providing some relief for China’s efforts to install a massive amount of renewable power and reach ambitious climate targets. Falling solar material prices have driven down costs along the supply chain in recent weeks, with silicon wafers seeing the largest discount. Top player Longi Green Energy …

Bloomberg Shell New Energies, EDP Renewables and Engie asked regulators for a delay in the planning of a proposed joint-venture offshore wind farm, the latest potential setback to President Joe Biden’s goal of powering millions of homes from Atlantic gusts. The sharp spike in interest rates presents “significant challenges” to Mayflower Wind’s economics, the project’s lawyers said in a filing …

  Bloomberg EQT Corp, the largest US natural gas producer, saw production drop by as much as about 30% during the recent bout of extreme cold that caused disruptions for some of its wells in the Appalachian Basin. The drillers’ daily output fell by between 1 billion and 1.5 billion cubic feet per day during the winter storm, Chief Executive …

Bloomberg Exxon Mobil Corp is suing the European Union in a push to eliminate a new windfall tax against oil groups, arguing the bloc does not have legal authority to impose the levy. The lawsuit is a major response to the tax from the oil industry that has reaped record profits this year as western governments have sought to bring …

  Bloomberg Germany’s RWE Supply & Trading GmBH agreed to a 15-year contract with Sempra Infrastructure to purchase liquefied natural gas from a production terminal set to open in Port Arthur, Texas, in 2027, according to both companies. With the deal, RWE said it had secured sufficient LNG volumes to make full use of its booked regasification capacities for an …

Bloomberg Wholesale power prices surged more than 6,000% in parts of the country during the worst of the recent brutal cold snap — a sign that Americans are likely to face significantly higher winter heating costs once the bills get mailed out. Electricity prices in Houston jumped to almost $3,700 a megawatt-hour on December 23, or a 65-fold increase from …

Bloomberg More tech tantrums. China’s Covid surge. And above all, no central banks riding to the rescue if things go wrong. Reeling from a record $18 trillion wipeout, global stocks must surmount all these hurdles and more if they are to escape a second straight year in the red. With a drop of more than 20% in 2022, the MSCI …

  Bloomberg It’s been a year of historic selloffs for US equities. Marked by surging inflation, jumbo-sized interest rate hikes, a darkening outlook on corporate earnings and recession clouds, the S&P 500 Index has lost 21%, on pace for its biggest slump since 2008. From crypto to former pandemic winners and so-called Faang stocks, investors have been shaken out of …

  Abu Dhabi / WAM The Arab Monetary Fund (AMF) said that the Arab construction sector has recovered from the impacts of the Covid-19 pandemic, with its contribution to GDP in 2021 amounting to around $186.8 billion, up from $178.3 billion in 2020, or a 4.7% increase. The UAE and Saudi construction sectors contributed the most to their countries’ GDPs, with …