Bloomberg Oil traded near $41 a barrel in New York as coronavirus cases continued to surge globally, casting doubt over the market’s rebounding consumption. US crude traded lower, while Brent edged higher. Goldman Sachs recommended buying global benchmark futures over WTI as American inventories grow. US crude stockpiles rose last week, according to government data, but gasoline demand recovered to ...

Bloomberg India is considering a plan to raise as much as 200 billion rupees ($2.7 billion) by selling stake in the world’s largest coal producer, and a bank to fund a stimulus program aimed at boosting the virus-battered economy, officials with knowledge of the matter said. The proposal involves a share sale depending on market sentiment, said the officials, who ...

Bloomberg As the European Union launches a new push to make hydrogen one of the clean fuels of the future, two French industrial giants say they’ve found the right project to rapidly scale up the nascent industry. Engie SA and Air Liquide SA want to build solar farms big enough to power 450,000 homes in France’s sun-drenched Provence region, with ...

Bloomberg The Japanese government was expected to finalise a policy review on Thursday that sustains some support for new overseas coal-power projects, according to people with knowledge of the situation. In a concession to climate-change concerns, the new policy will include for the first time a requirement that recipient countries commit to long-term “decarbonisation” plans, according to the people, who ...

Bloomberg Two days after a judge ordered the controversial Dakota Access oil pipeline to shut by early August, its owner Energy Transfer LP is continuing to schedule shipments and has made no moves to take it offline. The Dallas-based company run by billionaire Kelcy Warren said that it’s not currently emptying the pipeline and, in fact, is accepting requests for ...

Bloomberg Discussions about how to fight climate change almost always conclude with a lament over the “lack of political will.” It’s as if the roadblock preventing these clean-tech visions and white-paper dreams from becoming market-driven reality is an irrational, unforeseen hiccup. That’s a comforting fallacy. The lack of political will is the whole point: Climate change is a problem caused ...

Bloomberg AirAsia Group Bhd shares slumped nearly 18% when trading resumed following a suspension that came as auditor Ernst & Young said the carrier’s ability to continue as a going concern may be in “significant doubt.” The budget airline pared its loss to 12% as of 2:47 pm local time on July 08. In a statement to the Kuala Lumpur ...

Bloomberg Ascena Retail Group Inc, the owner of mall brands that occupy almost 3,000 stores in the US, is preparing to file for bankruptcy and shutter at least 1,200 of those locations, according to people with knowledge of the plan. The company, which owns brands such as Ann Taylor and Lane Bryant, could enter Chapter 11 as soon as this ...

Bloomberg South African Airways (SAA) cleared another hurdle needed to ensure the state-owned carrier’s survival when most labor groups agreed to sweetened severance packages for retrenched workers. The National Union of Metalworkers of South Africa and the South African Airways Cabin Crew Association, which were fiercely opposed to plans to cut the workforce to 1,000 staff from about 4,700, agreed ...

Bloomberg United Airlines Holdings Inc notified 36,000 employees, or 45% of its US workforce, that their jobs are at risk after federal payroll aid expires at the end of September. The final layoff tally hasn’t been finalised and may be smaller as workers weigh offers to leave voluntarily, United told employees. The planned furloughs include about 15,000 flight attendants, 11,000 ...