Bloomberg Oil declined as investors assessed signs of lackluster US gasoline demand and the return of supplies from Libya. West Texas Intermediate futures fall towards $95 a barrel. The slump came after a US report showed gasoline inventories rose more than expected last week, while stalling demand sent the motor fuel’s premium over crude plummeting. Further bearish signs emerged from …

  Bloomberg Russia began sending natural gas to Europe through the Nord Stream pipeline system after a pause, bringing relief to a continent whose economy is starting to wobble under the strain of reduced supplies. Shipments returned to 40% of capacity, their level before flows were halted for 10 days of planned maintenance, data from the pipeline operator showed. While …

  Bloomberg South Africa’s government wants to start accessing part of the $8.5 billion in climate financing pledged by some of the world’s richest nations in early 2023, the head of its negotiating team said. “That’s what we are aiming for and working towards,” Daniel Mminele, a former central banker governor who was appointed to head the talks for South …

  Bloomberg Elon Musk has called for more investment in global lithium refining to ease shortages in battery materials — and promised those who seize the opportunity it’s as lucrative as “basically minting money.” “I’d like to once again urge entrepreneurs to enter the lithium refining business. The mining is relatively easy, the refining is much harder,” Tesla Inc.’s Chief …

Bloomberg After emerging from a debilitating pilot strike, SAS AB now faces its next battle: convincing investors that it’s worth backing the Scandinavian airline’s $3 billion rescue plan. The carrier has just weeks to secure as much as $700 million in bridge loans to finance ongoing operations while it undergoes US Chapter 11 bankruptcy proceedings, said Jacob Pedersen, an analyst …

  Bloomberg Embraer said the choice of engine provider for a proposed propeller-driven model has been whittled down to US-based Pratt & Whitney and its UK rival Rolls-Royce Holdings. The Brazilian planemaker is evaluating the proposals and will make a final decision on the supplier by the fourth quarter, Arjan Meijer, chief executive officer at its commercial aviation business, said …

Bloomberg Qantas Airways Ltd cancelled one in 12 flights in Australia last month, even more than in May, increasing the pressure on CEO  Alan Joyce as the airline struggles to cope with a demand rebound. Australia’s national airline scrapped 8.1% of scheduled domestic services in June, making it the country’s least reliable carrier, according to a government report. Virgin Australia …

  Bloomberg A top management executive from Marks & Spencer Group Plc is leaving to take a finance role at Associated British Foods Plc, the owner of clothing chain Primark. Eoin Tonge, currently chief financial and strategy officer at M&S, will replace John Bason who will be retiring as finance director, AB Foods said in a statement. Bason, who has …

  Bloomberg An Indian court agreed to send Future Retail Ltd into bankruptcy, allowing the creditors to find a new owner for the beleaguered retailer that once operated the largest chain of department stores across the country and was the prized trophy for two retail sector giants. The National Company Law Tribunal gave its verdict on a petition by Bank …

  Bloomberg Refuelling workers at London Heathrow airport called off a strike that was set to begin on Thursday and had threatened further disruptions at the UK travel hub. The walkout was suspended after Aviation Fuel Services Ltd made a “sustainably improved offer,” the Unite union said in a statement. The roughly 50 employees involved will now be given time …