KHOKHA / WAM The UAE continues its relief assistance to the Yemeni people as part of its humanitarian mission to alleviate the stress of the living conditions affecting the local population. The Emirates Red Crescent (ERC) provided 40 tons of relief materials to 1,370 families in the Al Alili camp in the coastal Yemeni city of Khokha, who had fled …

Bloomberg Joe Biden called for setting a 100% clean-electricity standard by 2035 and investing $2 trillion over four years on clean energy, three people familiar with his plan said. The Democratic nominee’s new commitments mark a clear shift towards progressives’ environmental priorities and cutting the use of fossil fuels. The people briefed on his plan spoke on the condition of …

Bloomberg California Resources Corp filed for bankruptcy, kicking off what could turn into the next wave of collapses among oil drillers and the businesses that depend on them. The company joins more than 200 oil explorers that have filed for court protection since 2015, and more may be coming in a matter of weeks. Denbury Resources Inc and Noble Corp …

Bloomberg Two months after India announced a 900 billion rupees ($12 billion) loan program to aid power distributors punished by the pandemic, only a fraction has been utilised as many state applications have yet to meet the lending requirements, according to people familiar with the matter. The loans, announced by Finance Minister Nirmala Sitharaman, are among a raft of measures …

Bloomberg The International Energy Agency (IEA) bolstered its outlook for global oil demand, but warned that the recovery could be derailed by the resurgence of coronavirus. A collapse in fuel consumption during the second quarter was slightly less severe than previously estimated, and demand should rebound sharply over the next three months as economic activity resumes, the agency said in …

Bloomberg As much as $23 billion in capital needed for US clean energy projects could dry up amid the economic fallout from the coronavirus pandemic — threatening the growth of renewables into next year. That represents as much as 31 gigawatts of solar and wind projects that may be seeking tax-equity investments over the next 18 months, according to a …

Bloomberg American Airlines Group Inc will notify 25,000 employees, or 29% of its US workforce, that they’re at risk of losing their jobs later this year as the carrier adjusts to a collapse in travel. The cuts are needed because the coronavirus pandemic is still battering demand for flights, the company told employees. The reductions would take effect after restrictions …

Bloomberg Air Canada tried again to persuade the government of Justin Trudeau to ease restrictions on travel, pointing to policy shifts in other nations where the Covid-19 pandemic has shown signs of improvement. In a letter to Canadian Transport Minister Marc Garneau and other cabinet members, the airline’s chief medical officer suggested loosening quarantine requirements through “a science-based approach” to …

Bloomberg UK Prime Minister Boris Johnson backed off from intervening in British Airways (BA) plans to cut pay and modify contracts for remaining staff after dismissing thousands of others. “British Airways and a number of other companies are in severe difficulties at the moment,” Johnson told lawmakers in Parliament. “We cannot simply with a magic wand ensure that every single …

Bloomberg Burberry Group Plc said it will cut 500 jobs globally to cut costs after lockdowns caused sales to plunge by almost half in the past quarter. The British fashion house said comparable retail sales fell 45% in the quarter and predicted that the pandemic will continue to hurt performance in the current period. Covid-19 prompted luxury boutiques to shut …