Bloomberg While US stocks fall ahead of what’s expected to be a hawkish Federal Reserve policy meeting, one investor just bet $65 million on a quick market rebound. The trade saw someone purchase roughly 20,000 call spreads that are linked to the S&P 500 and expire right before the Christmas holiday. The transaction involved selling calls with a strike …

  Bloomberg Saudi Arabia said global oil production could drop 30% by the end of the decade due to falling investment in fossil fuels. “We’re heading towards a phase that could be dangerous if there’s not enough spending on energy,” Saudi oil minister Abdulaziz bin Salman said in Riyadh. The result could be an “energy crisis,” he said. The minister …

  Bloomberg Swedish battery startup Northvolt AB and energy firm Galp Energia SGPS SA plan to develop a lithium-conversion plant in Portugal to supply the region’s growing electric-vehicle industry. The companies said they’ll set up a joint venture with the goal to build a facility with an annual production capacity of 35,000 metric tons of lithium hydroxide — enough to …

  Bloomberg Brookfield Asset Management is in talks for a deal to acquire a stake in Australian energy metering business Intellihub Group, according to people familiar with the matter. The private equity firm is the likely winner of an auction to buy an interest in the residential energy metering firm from its existing Australian backers Pacific Equity Partners, the people …

  Bloomberg Virgin Atlantic Airways Ltd owners Richard Branson and Delta Air Lines Inc agreed to provide a 400 million-pound ($530 million) capital injection into the UK carrier to see it through the latest slump in global travel. Branson’s Virgin Group will cough up 204 million pounds of the funding and Atlanta-based Delta the rest, allowing them to maintain their …

  Bloomberg New York Governor Kathy Hochul announced a $9.5 billion revamp of Terminal 1 at John F Kennedy International Airport, restarting the transformation of one of the busiest airports in the US as it works through pandemic delays. The funding infusion will create a new Terminal 1 on the current site of terminals 1, 2, and 3 at the …

  Bloomberg Whistle-blowers at Boeing Co and others involved with the aviation industry are raising renewed concerns about safety in the wake of the 737 Max crash investigations, according to a report. Senator Maria Cantwell, the Washington Democrat who is chairwoman of the Senate Commerce, Science and Transportation Committee, called on US aviation regulators to act on the latest concerns …

  Bloomberg Ocado Group Plc shares surged after the UK company won the first round in a patent-infringement case filed by rival AutoStore Holdings Ltd that has been hanging over the online grocery technology provider. Ocado shares rose as much as 9%, while Autostore dropped as much as 15%. Three AutoStore patents are invalid, while Ocado doesn’t infringe a fourth, …

  Bloomberg British Airways said its new Gatwick short-haul operation will begin flying in March, with the UK carrier putting tickets to 35 destinations on sale from Tuesday. Flights operated by the new subsidiary — BA Euroflyer — will continue to be branded British Airways, and will operate to destinations including Ibiza, Faro in Portugal, Malaga and Tenerife in Spain …

  Bloomberg British homeowners have enjoyed a $4 trillion untaxed wealth windfall from rising property values over the last 20 years that is unlikely to be repeated, with the bulk of riches going to the well-off, the over 60s and those living in London. In a report calling for gains to be taxed, the Resolution Foundation said the surge in …