Bloomberg The US is ordering refiners to boost the use of biofuels such as corn-based ethanol, as the Biden administration tries to strike a balance between competing political and economic pressures while gasoline prices soar. The US Environmental Protection Agency (EPA) is requiring refiners to mix 20.63 billion gallons of renewable fuels into gasoline and diesel this year — ...

  Bloomberg Nikola Corp’s founder and former chair Trevor Milton voted against a proposal by the clean-energy trucking startup that would have authorised new shares to potentially raise capital, throwing the outcome into doubt, according to people familiar with the matter. Milton’s vote led to the decision to immediately adjourn Nikola’s annual shareholder meeting to June 30 so the company ...

More than 100 days of war in Ukraine have not only unleashed multiple political, economic and environmental crises; Vladimir Putin’s invasion has also revived dangerous delusions in the West. A few months ago, acute divisions plagued the United States, the European Union and ties between them. Germany, Europe’s leading nation, had developed a mutually profitable relationship with Russia. Poland, a ...

A “festival of economics” sounds like a contradiction in terms. What next? A bacchanalia of boredom? A celebration of sophistry? Thomas Carlyle dubbed economics “the dismal science” for good reason. Yet Turin’s International Festival of Economics lived up to its billing. Giuseppe Laterza, the festival impresario, got the inspiration of the festival from two sources: the Hay-on-Wye book festival in ...

  In recent days, prominent venture capital funds have come out with survival tips for their portfolio companies. While asking startup founders to tighten their belt is sound advice, it’s worth wondering when venture capital titans might be urged by their investors to scale back their own pay, too. Their compensation has been rising fast. Last year, median cash pay ...

  Inflation in the euro area surged to 8.1% in the year to May, yet again higher than expected. Up to now, despite signs that inflation was getting entrenched, the European Central Bank (ECB) had chosen to stand pat. It had its reasons, but they’re no longer persuasive. The ECB’s task is difficult, to put it mildly — and only ...

Bloomberg Frontier Group Holdings Inc sweetened the terms of its takeover offer for Spirit Airlines Inc and won support from a key proxy advisory firm, giving the ultra-discount carrier new momentum as it tries to fend off a rival bid by JetBlue Airways Corp. Frontier agreed to pay $250 million, or $2.23 a share, to Spirit if the deal collapses ...

  Bloomberg Boeing Co won’t launch a new jetliner any time soon to address Airbus SE’s widening sales lead in the narrow-body market, Chief Executive Officer Dave Calhoun said. Prominent customers like Air Lease Corp founder Steven Udvar-Hazy have been calling on Boeing to get moving on the mid-sized aircraft family Calhoun tabled two years ago. But there are no ...

  Bloomberg American Airlines Group Inc expects revenue to balloon well above its original expectations this quarter as consumers swarm back to travel following the pandemic, helping the carrier absorb the impact of higher jet-fuel prices and other expenses. Total revenue will jump by as much as 13% over the same period of 2019, the Fort Worth, Texas-based airline said ...

Bloomberg UK travellers are bracing for further widespread disruption as airports and roads struggle to cope with a surge in people returning from Jubilee weekend getaways and London Tube workers head out on strike. Lengthy queues are expected at airport passport controls while roads will be clogged with 19 million drivers expected to get behind the wheel over the weekend, ...