Bloomberg Duke Energy Corp planned to close its last six coal power plants in the Carolinas by 2030 to accelerate the company’s carbon-cutting goals. South Carolina regulators said no—ordering the US utility to keep the plants open longer. The decision sets up a showdown as Duke Energy appeals a regulatory response that threatens the company’s preferred plan to speed …

  Bloomberg Korea Gas Corp, one of the world’s biggest liquefied natural gas importers, expects to win benefits from its current business as it shifts to a future focused on hydrogen. “We’ll completely transform our LNG-driven operations into hydrogen by 2050 in line with South Korea’s carbon neutrality target,” Lee Jae Hoon, a general manager of the company’s hydrogen business …

  Bloomberg South Africa registered two solar projects as part of a process designed to cut red tape and help increase the pace of private generation in a nation that’s headed for a record year of power cuts. The National Energy Regulator of South Africa approved the projects, the biggest since President Cyril Ramaphosa removed the need for seeking licenses …

  Bloomberg TotalEnergies SE said it will acquire a stake in a large US renewables developer, another move by the European energy giant to expand its footprint in the American power sector. The French firm agreed to buy a 50% stake in Clearway Energy Group from Global Infrastructure Partners for $1.6 billion in cash, it said in a statement. GIP …

  Bloomberg European natural gas prices headed for a third straight weekly decline as fears over further disruptions to Russian supplies waned. Benchmark futures fell as much as 4.3%, hitting the lowest level since the start of the war in Ukraine. Russian shipments are expected to remain stable, even as flows through one cross-border point in Ukraine remain cut off …

Bloomberg Delta Air Lines Inc is cutting flights just ahead of the busy Memorial Day weekend and through the summer to help it recover faster from bad weather, higher-than-expected worker absences and other issues that have rattled recent operations. The airline said it will trim about 100 flights a day in the US and Latin America from July 1 through …

Bloomberg Alibaba Group Holding Ltd soared after reporting revenue rose a better-than-expected 9%, reassuring investors trying to come to grips with the economic cost of sweeping lockdowns intended to eradicate Covid-19. The shares rose more than 12% in Hong Kong after the company reported revenue climbed to 204.05 billion yuan ($30.3 billion) in the March quarter, beating analysts’ projections. Chief …

  Bloomberg Australian retailers recorded a fourth consecutive month of sales gains, suggesting cashed-up households are so far weathering a spike in the cost of living from surging fuel and other prices. Sales advanced 0.9% in April to a fresh record $24.1 billion and just shy of economists’ estimates for a 1% increase, Australian Bureau of Statistics data showed. “Cost …

Bloomberg Cathay Pacific Airways Ltd has started a review that could lead to the shuttering of its pilot bases in the US, the Hong Kong carrier’s last overseas outpost, as it continues to cut costs to stem a cash drain from operating so few flights during the Covid crisis. Cathay has bases in New York, Los Angeles, San Francisco and …

  Bloomberg India’s flying public is becoming increasingly frustrated with the nation’s airlines, according to a survey undertaken for Bloomberg, saying that customer service and the behaviour of airline staff has deteriorated sharply in the wake of Covid-19. Some 79% of the 15,000 airline passengers surveyed by LocalCircles said they believe carriers in India are compromising on passenger comfort and …