Bloomberg China is set to install a record amount of wind and solar power capacity this year as the country strives to meet climate goals while reducing its reliance on the rest of the world for energy. China will add 140 gigawatts of capacity from the clean energy sources, said Tao Ye, a researcher with the National Development and …

  Bloomberg Regulators approved a $4.5 billion transmission line that will deliver Canadian hydropower to New York City, a key component of the Empire State’s efforts to eliminate carbon from its power grid by 2040. The 339-mile Champlain Hudson Power Express is expected to be complete in 2025, according to a statement from New York Governor Kathy Hochul. The Public …

Bloomberg California, which aims to have a carbon-free power grid within 25 years, got a short glimpse of that possibility earlier this month. The state’s main grid ran on more than 97% renewable energy on April 3, breaking a previous record of 96.4% that was set just a week earlier, the California Independent System Operator said in a statement. “While …

  Bloomberg Romania is moving ahead with a plan to unlock stalled natural gas projects in the Black Sea as Europe searches for new energy resources to cut reliance on Russia following its invasion of Ukraine. The country’s ruling coalition has reached an agreement on a long-delayed bill amending the country’s offshore law to boost investments and unlock stalled gas …

Bloomberg Germany was warned it could face a 220 billion-euro ($240 billion) hit to output over the next two years in the event of an immediate interruption in Russian energy supplies over the war in Ukraine. Economic institutes advising the government in Berlin said in a joint forecast that a full halt in Russian natural gas imports would result in …

  Bloomberg An amendment to European Union sanctions created a potential path for some aircraft financiers to sell jets held in Russia to the airlines now operating them without permission. The measure will allow EU governments to grant permission for entities in their states to keep receiving payments from Russian companies on so-called financial leases signed before February 26. Ownership …

  Bloomberg Bed Bath & Beyond Inc blamed an unexpected fourth-quarter loss and slowing sales on global supply-chain disruptions and weakening consumer confidence. The retailer said that an “abnormally high” level of inventory was in transit, unavailable or held at ports through the early part of this quarter. That contributed to a larger-than-expected drop in sales and has thrown a …

  Bloomberg American Airlines Group Inc was sued by its pilots union to block a plan that would seek volunteers to help with flight-simulator training amid record hiring. The plan would violate the Railway Labor Act, which prohibits unilateral changes to contracts between airlines and their unions, according to the suit, filed by the Allied Pilots Association (APA) in a …

Bloomberg Uniqlo operator Fast Retailing Co rose the most in more than three weeks after reporting a 27% jump in quarterly operating profit and kept its outlook for the fiscal year despite the shutdown of its Russian operations and the resurgence of Covid in China that are fueling uncertainty in clothing sales across the world. Operating profit rose to 70 …

  Bloomberg Japanese convenience store operator Lawson Inc will raise the prices of its beloved chicken nugget snack “Karaage-Kun” for the first time since it was introduced in 1986. The price of the five-pack nuggets, sold in a paper envelope with a toothpick and a chicken illustration that’s instantly recognisable to anyone in the country, will increase 10 percent to …