Bloomberg The scrapping of Keystone XL not only means the end of multibillion-dollar pipe dream for TC Energy Corp — it also leaves behind 48,000 tons of steel. US President Joe Biden revoked permits for the oil pipeline on his first day in office, killing a cross-border project that had won a four-year reprieve under his Republican predecessor, Donald Trump. ...

Bloomberg India’s success in connecting its largest domestically-built nuclear reactor to the grid is a boost for plans to deploy the technology to help the world’s third-biggest polluter limit emissions, according to the official overseeing the plans. The 700-megawatt pressurised heavy water reactor of the Kakrapar Atomic Power Station, located in the western state of Gujarat, is the first of ...

The storming of the US Capitol on January 6 was a real lowlight for Congress. At least during the sacking of Washington in the war of 1812, the White House burned alongside the Capitol. But on January 6, 2021 the head of the executive branch urged his followers to interfere with the operation of the legislative branch. The entire sequence ...

The latest scrap over London’s post-Brexit finance business has a clear winner. Britain and the European Union might have been hoping to fight over the juicy bone of derivatives trading, but a third dog is running off with the prize: New York. New trading limits between the UK and the continent have prompted a large chunk of this lucrative work ...

We have to wait a few weeks to see just how green President Joe Biden’s stimulus plan turns out to be. But we’re already in the middle of an unplanned green investment boom. It will end both badly and usefully. Energy of all varieties is a capital-intensive business, so the cost of that capital often makes or breaks a new ...

Why should only the wealthy get to ride unicorns to further riches? Privately held firms with at least $1 billion in value come with daunting price tags that freeze out ordinary investors. Banks that help unicorns raise money are glad to chalk up a few bulky subscriptions — $1 million and more — from top clients. It works fine with ...

Bloomberg Samsung Electronics Co is considering spending more than $10 billion building its most advanced logic chipmaking plant in the US, a major investment it hopes will win more American clients and help it catch up with industry leader Taiwan Semiconductor Manufacturing Co. The world’s largest memory chip and smartphone maker is in discussions to locate a facility in Austin, ...

Bloomberg Tencent Holdings Ltd, the creator of the messaging platform WeChat, is in talks with banks for a $6 billion loan, according to people familiar with the matter. That would be the biggest dollar loan syndicated in Asia for a Chinese firm since 2019, according to data compiled by Bloomberg. It would also mark a flurry of potential debt financings ...

Bloomberg The owners of Hong Kong Life Insurance Ltd are reviving a sale of the business after a deal was scrapped more than two years ago, according to people familiar with the matter. A sale of Hong Kong Life, whose owners include OCBC Wing Hang Bank Ltd, could fetch $400 million to $500 million, the people said, asking not to ...

Bloomberg Indian billionaire Mukesh Ambani doubled down on his promise to offer 5G services on his wireless network as early as this year, as his conglomerate Reliance Industries Ltd reported a record profit aided by its consumer businesses. The group’s wireless operator, Reliance Jio Infocomm Ltd — India’s largest — has started advance tests to prepare the fifth-generation, high-speed network, ...