Bloomberg Chinese tech stocks slumped on Friday amid continued concern about the sector’s earnings and the risk of local firms being kicked off American exchanges. The Hang Seng Tech Index slid 5% in afternoon trading, the most in over a week. Delivery giant Meituan plunged 8.2% as investors had worried about the company’s growth ahead of its fourth-quarter results. ...

Bloomberg European stocks were set for their first weekly drop in three, as investors consider concerns over the surging inflation and the war in Ukraine hurting growth in the region. The Stoxx 600 Index was down less than 0.1% in London, with banks and energy sectors among the biggest decliners. Real estate and retail stocks outperformed. Last week, the European ...

Bloomberg Russian equities erased earlier advance and fall during the second day of limited trading after a record long shutdown of the country’s stock market. The MOEX Russia Index was down 2.9% by 12:18 pm in Moscow after earlier rising as much as 3.3%. Gas giant Gazprom PJSC led losses after the US and the European Union reached a deal ...

Bloomberg India’s renewable energy ministry has backed a demand to shield some projects from impending taxes on solar equipment imports, after generators said the added costs will slow the nation’s shift to clean energy. “We have requested Ministry of Finance to consider grandfathering of basic customs duty for projects bid out before March 9, 2021,” the renewable energy ministry said ...

  Bloomberg LG Energy Solution will invest around $2 billion on increasing output in North America as the South Korean battery maker ramps up production to meet rising demand for electric cars. LG will spend about $1.5 billion on a joint venture plant with Stellantis NV in Canada, the Seoul-based firm said in a company filing, without disclosing the exact ...

  Bloomberg Germany’s ruling coalition agreed on additional measures worth about $16.5 billion to ease the burden on businesses and households from soaring energy costs, including a temporary reduction in fuel prices. Chancellor Olaf Scholz’s government will cut the tax on fuel for three months by 30 euro cents ($0.33) for gasoline and 14 cents for diesel, Finance Minister Christian ...

  Bloomberg TotalEnergies SE is working on a plan to develop gas discoveries in South Africa with its partners and the government, according to its managing director in the country. The oil major starting in 2019 has made discoveries of gas and condensate — a light liquid hydrocarbon — offshore the most industrialised nation in Africa. After overcoming strong offshore ...

  Bloomberg Airbus SE has tried for years to find a new customer for its bigger jets in India, the world’s fastest growing aviation market before Covid shattered travel. Two of its previous buyers went bankrupt, while another was sold, giving arch rival Boeing Co a firm foothold in the South Asian nation’s market for transcontinental planes. Remi Maillard, the ...

  Bloomberg Clayton Dubilier & Rice (CD&R) LLC has been given five days to address competition concerns in its 7 billion pound ($9.2 billion) purchase of British grocer Wm Morrison Supermarkets Plc or it will face an in-depth probe from the UK’s watchdog. The Competition and Markets Authority (CMA) said the deal could lead to higher fuel prices in 121 ...

  Bloomberg A coalition of leading passenger and cargo airlines is calling on Hong Kong to scrap pre-flight and on-arrival Covid-19 tests for aircrew, saying they are a key reason to avoid flying to the city. Hong Kong is the only jurisdiction in Asia that requires such tests, which lead to delays and the risk of staff being sent to ...