Bloomberg China’s central bank pledged to support the economy through targeted financing for small businesses and a quick resolution of the ongoing crackdown on technology firms in Beijing’s latest bid to reassure investors nervous about growth and Covid lockdowns. The People’s Bank of China (PBOC) “will step up the prudent monetary policy’s support to the real economy, especially for …

  Bloomberg European stocks extended three days of declines as investors came to grips with the implications of cuts in gas supplies from Russia and the prospect of faltering growth. The Stoxx 600 Europe Index fell almost 1% while S&P 500 and Nasdaq 100 contracts also gave up early gains in the wake of a technology-led slump that pushed the …

  Bloomberg Sri Lanka stocks rallied, marking their first day of gains since April 5, after the World Bank said it will allocate funds to ease the nation’s economic crisis. The Colombo All-Share Index ended 6.8% higher, after losing about 15% in the past two days. The bluechip S&P Sri Lanka 20 Index surged 14%. Trading had to be suspended …

  Bloomberg Billionaire entrepreneur Elon Musk agreed to buy Twitter Inc for $44 billion, using one of the biggest leveraged buyout deals in history to take private a 16-year-old social networking platform that has become a hub of public discourse and a flashpoint in the debate over online free speech. Investors will receive $54.20 for each Twitter share they own, …

  Bloomberg Commodities trading giant Cargill Inc expects some of its freight vessels to be powered by clean marine fuel before the end of this decade. In 2020, Cargill shipped almost 200 million tons of iron ore, grains and other goods around the world. It has as many as 700 vessels on the water at a time, and most of …

  Bloomberg Sprng Energy Pvt is nearing a deal for Shell Plc to acquire the Indian renewable power producer for about $1.8 billion including debt, people with knowledge of the matter said. An agreement between Sprng’s private equity owner Actis and the energy giant could be signed in two to three weeks after Shell beat out rival bidders, the people …

  Bloomberg Philippine conglomerate Ayala Corp plans to acquire wind projects in the US in line with a target to boost its renewable energy capacity to 5,000 megawatts by 2025. Ayala unit ACEN got board approval to enter the US renewable energy market through a partnership with UPC Solar & Wind Investments LLC and Pivot Power Management. They will acquire …

  Bloomberg The UK’s energy regulator Ofgem will investigate how local energy markets can cut costs and reduce the environmental impact of powering the country. The energy crisis and the war in Ukraine is driving up living and manufacturing costs in Britain. Overall, the average family will be $1,433 worse off over the next 12 months, according to the Resolution …

Bloomberg London Heathrow airport raised its passenger forecast but warned that demand is likely to drop off later in the year as a summer boom gives way to a “winter freeze.” The airport, Europe’s biggest hub before the Covid-19 pandemic decimated travel, raised its annual passenger forecast by 16%. Even so, it will remain unprofitable this year after total losses …

  Bloomberg Cathay Pacific Airways Ltd flights from London to Hong Kong will go from as little as two a month to as many as three a day in June as the airline attempts a rebound of sorts from Covid-19. The airline’s schedule shows a jump in flights days after Hong Kong said it will open to non-residents starting from …