Bloomberg South Africa is considering more than doubling the amount private power producers can generate without requiring a license in a bid to reduce blackouts that are hobbling the economy. President Cyril Ramaphosa is racing to make an announcement as soon as Sunday, the people said, asking not to be identified as the matter isn’t public. South Africa last year ...

  Bloomberg China’s biggest oil company said its first-half profits jumped 50% to 60% from a year ago amid a surge in global energy prices. PetroChina Co.’s preliminary net income rose between 26.5 billion to 32 billion yuan ($3.9 billion to $4.7 billion) from last year, it said in an exchange filing. The company earned 53 billion yuan in the ...

Bloomberg Electricite de France SA’s (EDF) nuclear-generation problems are not just a concern at home. They’re causing a headache for the UK too. Britain’s electricity system is facing a repeat of last winter, according to Fintan Slye, director of National Grid Plc’s network operator. That was when the buffer of spare generation capacity tightened, sending prices soaring. The warning is in ...

The strangest thing about the turmoil surrounding UK Prime Minister Boris Johnson’s removal is the sustained lack of interest in Britain’s biggest and most pressing problem. Johnson bungled Brexit, and the country could be paying the price for years. His trade agreement with the European Union is broken and in danger of collapsing — threatening severe consequences for an economy ...

It may not have enough electric vehicles, powerpacks or the capital, but India has found a way towards mass electrification: swap batteries. The solution, where empty batteries can be exchanged for charged-up ones, is still in nascent stages in China, the world’s largest EV market, where it is anchored in strong government policy. Elsewhere, it hasn’t quite taken off. But ...

  It is spreading like wildfire. Homebuyers in China are refusing to pay the mortgage on properties they’ve bought but that their financially strapped developers can’t finish. Some say that they will only resume payments when construction restarts. The protest involved more than 100 delayed projects as of July 13, up from 58 projects just one day earlier. The frustrated ...

  Typically, the most effective foreign policy pairs smart tactical substance to an overarching strategic theme. Framing a foreign policy correctly can sustain domestic political support, attract allies and provide the intellectual guidance for action. Conversely, flawed framing can undercut any good that specific policies may otherwise be doing. When it comes to China, US President Joe Biden’s administration risks ...

Bloomberg As the aerospace world gathers in southern England next week for the first major commercial show since 2019, the stakes are particularly high for one half of the global planemaking duopoly. As ever, the spotlight at the Farnborough International Airshow will focus on the battle between Airbus SE and Boeing Co for orders, with rapid-fire, often last-minute announcements providing ...

Bloomberg Burberry Group Plc held its medium-term forecast steady despite severe lockdowns in parts of China in April and May that hurt demand for luxury products. The British fashion brand continues to target high-single digit revenue growth and a 20% margin at a constant currency in the medium term, as it “actively manages” the impact of lockdowns in China and ...

  Bloomberg Amazon.com Inc said it would create more than 4,000 new permanent jobs in the UK this year, the smallest number it’s announced in at least three years, despite planning to open two more fulfillment centers in the north of England. The new roles will span corporate, technology, as well as delivery and fulfillment positions, some of which will ...