Bloomberg Porsche said it’s still mulling an entry into the Formula 1 racing series after ending months of talks with Red Bull GmbH as a potential partner. Discussions faltered after the pair couldn’t agree on an “equal footing” on engine collaboration and team partnership, Porsche said. The stalling of the sports-car maker’s F1 aspirations come within weeks of Volkswagen …

Bloomberg Gazprom PJSC said it will shift its contract to supply gas to China to rubles and yuan from euros, as the Kremlin steps up efforts to move trade out of currencies it considers “unfriendly” amid US and European sanctions. The state-run gas giant signed an additional agreement to its existing contract with China National Petroleum Corp on the issue, …

Bloomberg Soaring petrol prices in the UK caused millions of people to avoid driving this summer, according to the country’s Office for National Statistics. About 44% of people experiencing a cost of living squeeze took fewer non-essential car trips, according to an ONS survey. The figures — combined with Visa credit card data showing people put less fuel in their …

  Bloomberg Portugal plans to lower the value-added tax rate to 6% from 13% for a certain amount of electricity use as the government tries to help consumers face rising costs for energy and other goods. The decision will take effect in October, Prime Minister Antonio Costa said at a press conference in Lisbon on Monday evening. Other steps presented …

  Bloomberg Italy is targeting a reduction in natural gas consumption through the winter season by increasing the use of coal, turning down heating across the country, and pushing to change citizens’ habits, according to a document circulated by the ministry for ecological transition. As the country faces the prospect of paying twice as much for energy imports as it …

  Bloomberg South Africa announced its first rolling blackouts in almost three weeks, hours after the nation’s statistics office published data that showed economy contracted in second quarter when was hit by record power outages. Eskom Holdings SOC Ltd. will implement so-called stage-2 loadshedding, where it cuts 2,000 megawatts from the grid, until September 10. If the utility sticks to …

  Bloomberg Germany’s fears that soaring power and gas prices could trigger a deeper crisis is starting to get real. Several hundred local utilities are coming under strain and need support, according to the head of Germany’s largest energy lobby group. The companies, generally owned by municipalities, supply households and small businesses directly and are a key part of the …

  Bloomberg United Airlines Holdings Inc threatened to suspend service at New York’s John F. Kennedy International Airport unless federal regulators review runway use and allow the carrier to increase daily operations. The airport’s total flight capacity hasn’t changed since 2008, despite a widening of runways and other infrastructure improvements, United told employees in a memo about its plan. The …

Bloomberg News from several travel-related companies shows consumer spending is healthy. Demand is high, and the industry is rebounding as pandemic era troubles subside. United Airlines boosted its sales and margin outlooks, citing strong demand in the wake of a “robust” summer. Travel and tourism firm Sabre said air bookings and passengers boarded in late August reached the highest levels …

  Bloomberg Employees at Boeing Co and other manufacturers will be given new protections against company interference as federal regulators continue to tighten oversight of aircraft development following a pair of crashes of 737 Max jets. The latest rules apply to engineers who are deputised by the US Federal Aviation Administration (FAA) to review the safety of aircraft designs. Any …