Bloomberg Britain’s path towards zeroing out its greenhouse gas pollution may cost a third less than expected if natural gas prices remain elevated, analysis by government’s fiscal watchdog showed. The Office For Budget Responsibility examined how high fossil-fuel prices would impact the whole-economy cost of the UK reaching its target for net zero emissions by 2050. In 2019, the ...

  Bloomberg Volkswagen AG broke ground on a new battery plant in Germany on Thursday, saying the factory marks the first step in an effort that will generate more than 20 billion euros ($20.4 billion) in revenue annually by the end of the decade. The Salzgitter venture is one of six battery plants VW has planned for Europe. PowerCo, the ...

  Bloomberg The French government will nationalize its financially struggling nuclear giant Electricite de France SA to help it ride out Europe’s worst energy crisis in a generation and invest in new atomic plants. “The climate emergency requires strong, radical decisions,” Prime Minister Elisabeth Borne said during a policy speech in parliament in Paris. “We need to have full control ...

  Bloomberg Natural gas in Europe headed for the longest stretch of daily gains in more than nine months as persistent fears of deeper supply cuts by Moscow spread through the market. Benchmark futures, which have doubled their value over the past month, surged as much as 9% for a seventh day of increases. The crisis has also sent power ...

Five years ago, India’s federal and state governments struck a historic deal. From July 1, 2017, a uniform tax on goods and services — marketed by Prime Minister Narendra Modi as “One Nation, One Tax, One Market” — replaced a bewildering array of local sales and entry levies. But the many compromises that were struck to bring more than 1 ...

In May, for the first time in more than three decades, Germany’s storied trade surplus disappeared. Not only is imported natural gas more expensive, but demand in China is falling — neither of which is good news for Germany. Nevertheless, the fallout will be more manageable than many people expect, the Germans included. For decades there has been too much ...

  If the fiascoes at WeWork Inc and Greensill Bank AG were not enough, Klarna Bank AB should serve as another fine reminder that SoftBank Group Corp is the unluckiest whale in a crowded venture capital world. Founder Masayoshi Son somehow always manages to hold the worst cards. The Sweden-based fintech, known for its buy-now-pay-later offering, is in talks to ...

  At their summit in Madrid, Nato’s leaders agreed to add two new members, Finland and Sweden, and to beef up the alliance’s presence in Eastern Europe. Taken together, the moves will greatly enhance Nato’s firepower and strengthen its ability to deter Russian aggression. They also could create new risks, which all member states will need to be attentive to. ...

Bloomberg British Airways is nearing a possible agreement on pay with check-in staff that could head off a strike and prevent further disruption after the carrier scrapped thousands of flights amid a staffing crunch. Talks with the Unite union have progressed and a deal is close, according to a person familiar with the matter who asked not to be named ...

Bloomberg Germany’s richest man is now the largest shareholder in Deutsche Lufthansa AG after reinvesting a chunk of a fortune he made in logistics into Europe’s biggest airline. Klaus-Michael Kuehne raised his stake in Lufthansa to 15.01% from 10.01%, according to a filing, overtaking the German government as the carrier’s biggest shareholder. The state has been selling down its interest ...