Bloomberg Siemens Energy AG will cut roughly a sixth of workers from its gas and power division in the latest sign that the worldwide shift to green energy is upending the fossil-fuel businesses. The company will eliminate 7,800 jobs by the end of its 2025 financial year, including about 3,000 positions in Germany and 1,700 in the US. Roughly three-quarters ...

Figuring out how to combine science with fairness in Covid-19 vaccine distribution is a tricky puzzle. Science can help predict how to distribute limited doses to minimise overall deaths, but that means acting fast, which might compromise fairness. That’s how we end up with outrage when hospital administrators get shots ahead of nursing home residents, or, as The Atlantic reports, ...

India’s economy has suffered more than most from the pandemic and so have its people. The country has lost more than a year’s worth of growth and perhaps a decade’s progress in its efforts to reduce poverty. The economic contraction — the first in India since the 1970s — has put pressure on its government like so many others to ...

Is Texas really a serious rival to California as a destination for high-tech? The growing exodus of banner companies — Oracle Corp, Hewlett-Packard Enterprise Co, Tesla Inc’s Space-X and others — suggests that there’s something to the idea. Still, skeptics rightly point out that plenty of other places have made a bid to become the new Silicon Valley and never ...

In 2019, Deutsche Bank AG and Commerzbank AG explored (and abandoned) plans to fix their broken models by merging. Since then, they have been making some progress on their own and up against the pandemic. After five years in the red, Deutsche finally returned to a meager profit, while Commerzbank, the smaller rival, is at last embarking on a much-needed ...

Bloomberg Alibaba Group Holding Ltd drew robust orders for a $5 billion bond sale, demonstrating investor confidence in the e-commerce giant’s long-term prospects amid easing tensions with Chinese regulators. The four-tranche offer received more than $38 billion in orders at the peak, according to people with knowledge of the matter. The notes comprising 10-year, 20-year, 30-year and 40-year maturities were ...

Bloomberg Kuaishou Technology’s eye-popping debut in Hong Kong following a mega $5.4 billion initial public offering has sent a strong signal to other listing candidates waiting in the wings — that this is a great time to go public. The operator of China’s most popular short-video service after ByteDance Ltd’s Douyin saw its shares almost triple on their debut, boosting ...

Bloomberg Thailand’s government is ready to take more fiscal steps if economic growth falls below its base-case forecast, driven by the latest Covid-19 outbreak or delays in vaccinating the public, a Finance Ministry official said. “The government is ready to do more if needed, and we still have fiscal space left,” Kulaya Tantitemit, acting director general of the Fiscal Policy ...

Bloomberg Australia, Japan, the US and India plan to hold a summit to strengthen ties amid China’s growing influence in the Indo-Pacific region, the Sankei newspaper reported, citing unidentified government officials. The four countries are preparing for the teleconference meeting, whose agenda will include the protection of a free and open Indo-Pacific region, according to the newspaper. India has, however, ...

Bloomberg SF Holding Co, one of the largest Chinese package-delivery services, is exploring a potential investment in tycoon Robert Kuok’s listed logistics business, people with knowledge of the matter said. The Chinese courier is in talks to acquire roughly a 20% stake in Kerry Logistics Network Ltd, according to the people, who asked not to be identified because the information ...