Bloomberg Prudential Plc plans to raise as much as $2.4 billion from its Hong Kong share offering after pricing the stock at a slight discount to its last close in Hong Kong. The London-based insurer is selling up to 130.8 million shares at HK$143.80 apiece, it said in a statement. Prudential plans to use proceeds from the offering to redeem …

Bloomberg Oil rises for the fifth straight week with the global energy crunch set to boost demand for crude as stockpiles decline from the US to China. Futures in New York gained 2.8% this week. The global benchmark Brent settled at the highest in nearly three for the second day in a row. Global onshore crude supplies sank by almost …

Bloomberg The record spike in energy prices could hardly have come at a worse time for Europe’s ambitious new climate plan, with politicians just beginning to talk about how they’re going to implement the world’s most sweeping emissions-cutting strategy. The energy crisis is threatening double-digit increases in consumer electricity bills months before the winter freeze and it’s also squeezing industrial …

Bloomberg British Airways (BA) dropped plans to set up a new, lower-cost unit at London Gatwick airport, setting up a high-stakes showdown with its pilots union, which balked at new contract terms. The airline has insisted on setting up a separate division for the short-haul business even though it would remain branded as BA, the flagship of the IAG SA …

Bloomberg Boeing Co expects Chinese airlines will need 8,700 new aircraft for a total of $1.47 trillion by 2040, doubling the country’s commercial fleet size as air travel booms. China’s demand for wide-body aircraft is likely to account for 20% of global deliveries, according to the US manufacturer’s Commercial Market Outlook. China’s civil aviation industry will also need more than …

Bloomberg Airbus SE’s push to quickly scale up production as air travel recovers from the Covid-19 pandemic is testing suppliers that have struggled to hire enough workers and secure raw materials. Back in May, the European planemaker said it would increase output of its best-selling A320 family of aircraft to 45 per month by the fourth quarter of 2021, rising …

Bloomberg United Airlines Holdings Inc must pay $1.9 million in fines for stranding passengers on the tarmac for extended periods of time, the government announced. United kept onboard more than 3,200 passengers on 20 domestic flights and five international flights from 2015 through last February for at least three hours, the Department of Transportation said in a release. The department …

Bloomberg Creditors of Nordic Aviation Capital AS are one step closer to taking control of the company, one of the world’s largest aircraft lessors. Nordic Aviation and its biggest creditor groups have reached an agreement on the outline terms of the company’s restructuring framework, according to a statement. The deal, in principle, includes the conversion of “a substantial amount of …

Bloomberg After spending a few minutes talking about triumphs at the Olympics, buzzy sneaker drops and a headquarters tour with LeBron James, Nike Inc executives spent much of the rest of their quarterly earnings call addressing something much less glamorous: logistics. “We are not immune to the global supply-chain headwinds that are challenging the manufacture and movement of products around …

Bloomberg Facebook Inc said it has spent more than $13 billion on safety and security efforts since the 2016 US election, and now has 40,000 employees working on those issues. The 40,000 safety and security workers include outside contractors who focus on content moderation, a spokesman said. Facebook said it had over 35,000 safety and security employees in October 2019. …