Bloomberg Norway is trying to make its dirtiest industry as clean as possible. The multi-billion-dollar plan will do little to reduce the nation’s overall climate impact. The Nordic country will use land-based green hydropower to electrify dozens of offshore oil and gas platforms. That will help meet national climate targets, and so allow the lucrative industry to keep pumping fossil ...

Bloomberg One of the world’s biggest wind turbine makers Vestas Wind Systems A/S will hike its prices as the costs of steel and transportation increase amid a global commodities boom that’s contributing to a rising risk of inflation. It’s an early sign that the surge in commodities prices and disruptions in supply chains could interrupt a trend of perpetually falling ...

Bloomberg US LNG developers seeking to burnish their green credentials and boost their competitiveness on a crowded global stage are touting a costly and largely untested technology: carbon capture. Both Cheniere Energy and Sempra Energy, two of the largest American exporters of liquefied natural gas, announced they were looking to add carbon capture and sequestration capabilities to their projects. Last ...

Covid-19 related deaths in India are expected to double in the coming weeks. People across socioeconomic classes are being cremated en masse in large holes in the ground. The ordeal doesn’t even end with death. Medical bills are piling up, a burden large enough to tip working-class families into multi-generational poverty. Younger adults desperate for vaccines are effectively being forced ...

Times are tough when you’re wrestling with Covid-19, recession — and a rapidly recovering America. The US offers superior rates of growth, a prospect once considered outlandish, and a bullish prognosis on vaccinations. Emerging economies in Southeast Asia are naked. They should also be afraid. The US economy is roaring back from 2020’s debacle. Unlike Donald Trump’s foundering response to ...

Peter Mandelson, spirit guide to former British Prime Minister Tony Blair, blamed the two “C”s for the Labour Party’s shattering defeat in a parliamentary by-election last week: “Covid and Corbyn.” The opposition party put up a poor showing in important local contests across the country, but the loss of Hartlepool to Boris Johnson’s Tories cut deep. On the doorsteps of ...

In the run-up to the US employment report, the forecasts of both economists and Wall Street analysts had migrated higher and pointed to an incredibly strong job creation number for April. What materialised, however, was a huge disappointment that constituted the biggest data miss on record. While firm conclusions about the reason will have to wait for more data over ...

Bloomberg Flush with bailout funds, Air Canada called on the government of its home country to lay out a plan for reopening borders as vaccination progresses. Canada’s biggest air carrier is in a position to ramp up operations after reaching a deal for nearly C$5.9 billion ($4.8 billion) in debt and equity with the federal government last month. Chief Executive ...

Bloomberg Airbus SE expects China to become a legitimate rival in global planemaking by the end of the decade, upending the long-standing duopoly between the European company and US rival Boeing Co. China has long been a big customer for both manufacturers, accounting for a fifth of Airbus deliveries last year. The country is finally close to success in its ...

Bloomberg JCPenney landed in bankruptcy court after foundering during the pandemic, but the reorganised retailer now sports a relatively big liquidity cushion and its sales are growing. The company has more than $1.2 billion of cash and credit availability, interim CEO Stanley Shashoua said. And the 119-year-old company, whose financials are no longer public, has improved sales since it left ...