Bloomberg French energy giant Total SE suspended its $20 billion liquefied natural gas project in Mozambique indefinitely due to an escalation of violence in the area, including a March attack by IS-linked extremists. The decision is a blow to Total, which bought an operating stake in the project for $3.9 billion in 2019, hoping to start exporting the super-chilled fuel ...

The 2008 crash tested financial globalisation. In 2020, the chaos of the early months of the Covid-19 pandemic led many to question the world’s dependence on complex global supply chains. These last few months, however, as vaccination programmes have taken off in some parts of the world and stalled in others, have raised even deeper doubts about globalisation and the ...

Savings have soared during the pandemic, particular among older Europeans. Barclays Plc estimates that seniors amassed excess savings of 600 billion euros ($722 billion). This would surely provide a boost to Europe’s economy if unleashed upon the high streets. Yet most observers believe much of the cash will remain unspent. What’s behind this hoarding? The region’s negative interest rates are ...

Prime Minister Boris Johnson is fighting (at least) two big political fires. They may not substantially impact the Conservative Party’s fortunes at the May 6 local elections, but these blazes suck oxygen from policy making, undermine public trust and distract from attempts to rebuild and rebalance the British economy as it emerges from the pandemic. What’s worse, the harm to ...

Non-pandemic healthcare hasn’t been much on the agenda during President Joe Biden’s first 100 days. But reducing healthcare costs remains a priority for the public — ranking ahead of addressing racism, crime, immigration or climate change. Democrats’ wariness of the issue is understandable. The public is passionate about healthcare, but also risk-averse. Three of the last four presidents (two of ...

Bloomberg China’s government has expanded its antitrust crackdown beyond Jack Ma’s technology empire, launching an investigation into suspected monopolistic practices by food-delivery behemoth Meituan. The State Administration for Market Regulation (SAMR) announced the investigation, which began recently, in a statement. The antitrust watchdog is looking into alleged abuses including forced exclusivity arrangements known as “pick one of two.” The company ...

Bloomberg A quarantine-free air travel bubble between Hong Kong and Singapore is finally slated to get off the ground with a start date of May 26, following setbacks that led to the plan initially being shelved last November. Largely shut off from the rest of the world during the pandemic, the two sides have been in talks for months to ...

Bloomberg Just two weeks ago, the International Monetary Fund (IMF) upgraded India’s economic growth forecast to 12.5% — the quickest rate among major economies. Now, as Covid-19 cases surge the most globally, that bullish view is looking increasingly in doubt. In Delhi, India’s political capital, the streets are mostly empty and the markets nearly deserted with almost all shops closed ...

Bloomberg As global banks make inroads into China’s $15 trillion asset management market, China International Capital Corp is launching a counter-offensive spanning from overseas acquisitions to hiring. CICC is searching for potential targets among medium-sized, Asia-focused managers including stock houses and hedge funds, said Frank Xu, head of asset management. Without takeovers, the size of his business line is already ...

Bloomberg Shares of the world’s largest rubber glove maker rose to a two-month high after the company cut its share sale in Hong Kong by nearly half of its earlier target, a move analysts said will minimise earnings dilution. Top Glove Corp climbed as much as 2.5% in Kuala Lumpur, the highest since February 23. The company, whose shares also ...