TikTok users would still risk having personal data exposed to hacking and espionage by China even if the Biden administration forges a security agreement designed to spare the video platform from a total US ban. That’s the conclusion of former national security officials and other experts as the Justice Department reviews an accord that would keep the popular video-streaming app, …

Mobileye Global Inc, the self-driving technology company owned by Intel Corp, is targeting a valuation of about $16 billion in a public offering, far below its previous target amid a rocky year for new listings. Intel had lowered its expected valuation of Mobileye to $30 billion due to turbulent market conditions, Bloomberg News reported last month. The company plans to …

Mercedes-Benz Group AG is broadening its battery-powered line-up with a sport utility vehicle (SUV) that will take on Tesla Inc.’s Model Y in another step towards the automaker’s goal to go all-electric by the end of the decade. The EQE SUV, unveiled on the eve of the Paris car show, will edge out the cheaper Model Y with 590 kilometers …

Bloomberg European Union (EU) governments have pledged more than 550 billion euros ($536 billion) to protect citizens and businesses from soaring energy costs over the past year, highlighting the enormous fiscal burden the bloc’s leaders face as they jostle over how to pay for it. That figure climbs to 710 billion euros when support for utilities via loans, bailouts and …

  Bloomberg Italy’s Enel SpA is in talks with banks on a new €16 billion ($15.8 billion) state-backed credit line to cover derivatives risks linked to spiking energy prices, according to people familiar with the matter. Under the plan, the country’s trade-credit insurer Sace would provide guarantees for around 70% of the total amount, said the people, asking not to …

  Bloomberg Germany is at risk of wasting billions of euros on boosting liquefied natural gas imports instead of moving towards sustainable alternatives like energy efficiency, according to a new report. The country faces about 200 billion euros ($196 billion) of additional costs for gas imports by the end of the decade, causing a doubling of bills for consumers, the …

  Bloomberg A city in southern China is planning an offshore wind farm bigger than all of the power plants in Norway combined. Chaozhou, in Guangdong province, intends to start work on the 43.3-gigawatt project before 2025, according to a copy of the city’s five-year plan posted on industry publication bjx.com. The wind farm will be built between 75 and …

  Bloomberg BP Plc agreed to acquire biogas producer Archaea Energy Inc. for about $4.1 billion including debt, the latest step in the UK energy giant’s expansion into into lower-carbon fuels. BP will pay $26 per share, a 38% premium to the average share price in the 30 days to Oct. 14, Archaea said in a statement. The Houston-based company, …

  Bloomberg Indonesia plans to sell biofuels made from a blend of sugarcane extract and oil from next year as the world’s largest exporter of dirty coal seeks to reduce emission and curb fuel imports. State-owned oil and gas firm PT Pertamina Persero will begin selling A20 fuel, which is a mix of 80% gasoline, 15% methanol derived from natural …

Bloomberg Air India Ltd is planning to triple its fleet of 113 aircraft over five years as the money-losing carrier prepares to transform the business following its takeover by India’s largest conglomerate, the Tata group. “The airline is in discussions with aircraft and engine manufacturers on procuring new aircraft,” Air India Chief Executive Campbell Wilson said in New Delhi. “I …