Bloomberg The European Union is planning to propose a mandatory phaseout on coal imports from Russia in a direct response to reports that Russian forces committed apparent war crimes in Ukraine, according to people familiar with the matter. The action on coal would be added to a package of steps aimed at strengthening existing measures and correcting loopholes that was ...

Bloomberg Poland’s plan to quickly cut down on coal as its main electricity fuel may take longer than expected as the country seeks to limit its investments in gas-fired power units. The European Union’s most coal-reliant nation intends to increase the usage of power plants fired by the dirty fuel “in short- and mid-term,” the State Assets Ministry said in ...

Hong Kong’s most unpopular leader since the city returned to Chinese rule stayed in character to the end. Carrie Lam paid tribute to her backers in Beijing, while eschewing any mention of the financial center’s people as she confirmed she won’t seek a second five-year term. The chief executive put the central authorities first, second and third on her list ...

The US Commerce Department announced that consumer spending fell 0.4% in February from January after adjusting for inflation. This may not seem like much, but real spending has dropped in three of the last four months. Without strength in household outlays, the economic expansion is doomed. Capital spending provided a minor boost to the economy but didn’t recover the losses ...

  Elon Musk bought a $3 billion stake in Twitter Inc, because when you’re the world’s richest human you can toss billions around just like that. This may be just another piece of performance art from Musk, who has alternately endorsed and pooh-poohed Bitcoin to great effect. He’s also taken to Twitter to hype altcoins such as Dogecoin and Shiba ...

  De-globalisation looks as though it’s happening. Calls for yet more sanctions on Russia after the horrifying images of dead bodies strewn across Ukrainian streets seem now to have every chance of success, with European nations possibly even prepared to inflict upon themselves the pain of an embargo on Russian energy imports. As the pandemic continues to disrupt supply chains, ...

  Bloomberg Investigators trying to figure out why a Boeing Co 737-800 plunged to the ground in China last month could gain key clues within days from the jet’s black boxes, which were sent to the US. “I’d expect within a week the investigation team would have the information,” said Neil Campbell, a retired air-safety investigator at the Australian Transport ...

  Bloomberg Virgin Australia is offering a raft of discounts and extra air miles to business customers, traditionally a stronghold of Qantas Airways Ltd, as part of a longer-term bid to lock in one third of the domestic air-travel market. The Bain Capital-owned airline rolled out a loyalty program specifically targeting Australian businesses. New members can get cheaper fares, and ...

  Bloomberg Vietnam police detained the aide to Bamboo Airways former Chairman Trinh Van Quyet as part of a widening probe in alleged stock manipulation at real estate developer FLC Group, which he founded. FLC accountant Trinh Thi Minh Hue, reportedly Quyet’s sister, will be detained for three months, the public security ministry said. Police detained Quyet as part of ...

  Bloomberg Citigroup Inc is underwriting a $1.2 billion bond sale for the Dallas Fort Worth International Airport, the largest deal it has managed since reentering the Texas municipal-bond market after being temporarily sidelined last year over the bank’s firearms policy. The transaction would be a major win for the bank’s public finance business, which has seen its standing in ...