BLOOMBERG The new chief financial officer of American Airlines Group Inc has a message for skeptical voices in the credit community as the company seeks to secure a ratings upgrade: The $15 billion debt-cutting plan is on track. After spending around $24 billion to upgrade its fleet in the run-up to the pandemic, following a bankruptcy and the merger with ...

BLOOMBERG Beneath the road on a snow-dusted mountain in the Hellisheiði region of southwest Iceland, a river of boiling water flows through porous, volcanic rock. Above, thick steel pipes connect to geodesic domes, each of which houses a geothermal well. Steinþór Níelsson, a senior geologist with ISOR (Iceland Geosurvey), parks his car near one of the rounded huts. He and ...

BLOOMBERG Several of India’s proposed liquefied natural gas import projects are grappling with delays, posing a fresh challenge to Prime Minister Narendra Modi’s plans to boost use of the fuel. Two floating import terminals missed commissioning targets last year after LNG prices skyrocketed, reducing demand and disrupting import plans, Ayush Agarwal, analyst with S&P Global, said during a media roundtable. ...

BLOOMBERG Last year, although it built few new coal power plants, China permitted more than it had since 2015: 106 gigawatts’ worth. That’s more than six times the amount of coal power permitted in 2022 across the rest of the world. Those are big numbers. But the findings from the Centre for Research on Energy and Clean Air, a Finland-based ...

BLOOMBERG Britain’s chronic problem with people dropping out of the workforce will only get worse over the next three years because the population is changing shape, according to the Office for National Statistics (ONS). By 2026, there will be 726,000 more inactive people in the UK aged 16 to 64 than before the pandemic, the government’s statistics office said. The ...

BLOOMBERG Tesla Inc’s shipments from its China factory climbed in February as price cuts attracted buyers and consumer spending kicked back into gear following massive Covid outbreaks across the nation in January. The US electric vehicle pioneer delivered a total of 74,402 vehicles from its Shanghai facility last month, preliminary data from China’s Passenger Car Association showed. That’s a 32% ...

BLOOMBERG The Biden administration announced export restrictions for dozens of Chinese entities, including server maker Inspur Group Co and units of genetics firm BGI, citing activities contrary to US national security and foreign policy interest. The Commerce Department added a number of companies to the so-called Entity List for acquiring or attempting to acquire US-origin items in support of China’s ...

BLOOMBERG The European Union (EU) delayed a key vote on an effective ban on combustion-engine cars after Germany unexpectedly voiced last-minute objections amid concerns about how the bloc’s green plans will affect industry. EU and German officials are in talks over how to reach a compromise over allowing the use of e-fuels in new cars after 2035, and there were ...

BLOOMBERG Local retail investments may help double the assets in India’s monthly stock plans in five years, and cushion the market from any selloffs by foreign investors, according to Edelweiss Asset Management Ltd. Assets invested monthly in the so-called systematic investment plans — a vehicle widely used by retail investors — could grow to about $4 billion by 2028 as ...

BLOOMBERG European shares rose on Friday along with global stocks as investors took comfort in underlying economic strength and started March on a high note. Bonds halted declines. A gauge of European stocks climbed 0.6% and headed for a weekly gain. S&P 500 futures ticked higher after the underlying gauge clawed back a weekly loss. Asian equities rose about 1%, ...