Bloomberg Royal Dutch Shell Plc said it plans to buy BP Plc’s stake in a North Sea field they share, superseding a deal agreed by the British oil major last month. “Shell UK Ltd has agreed to purchase BP’s interest in the Shearwater gas hub,” a spokesperson for the Anglo-Dutch company said, without disclosing terms. “The move reflects Shell’s strategy …

Bloomberg Southwest Airlines Co will increase its minimum wage to $15 an hour and raise the pay of thousands of airport workers to ensure it retains sufficient staff and can attract new employees to support growth over the next two to four years. The move will affect more than 7,000 employees and take effect from August 1, the airline told …

Bloomberg Kenya Airways Plc‘s head said the government should step in to repay $750 million of state-guaranteed debt to help the East African carrier emerge from the Covid-19 crisis that has battered the industry. The airline is scheduled to resume repayments of the sovereign-backed debt next month, following a moratorium negotiated with lenders following the grounding of most international travel …

Bloomberg 7-Eleven Inc was ordered by US antitrust regulators to sell 293 gas-station retail stores acquired as part of its $21 billion purchase of Marathon Petroleum’s Speedway business. The order disclosed by the US Federal Trade Commission resolves lingering concerns over the transaction. In May, FTC Acting Chairwoman Rebecca Kelly Slaughter and her fellow Democratic commissioner said the agency would …

Bloomberg Nike Inc soared to an all-time high in the latest sign that consumers are opening their wallets more than expected as the pandemic eases in much of the world. The shares rose almost 16% to a record $154.35 after the company projected that revenue this fiscal year will surpass $50 billion for the first time, benefiting from rebounding growth …

Bloomberg Greater Sydney was put into a two-week lockdown to fight an outbreak of the highly-transmissible delta variant of the coronavirus, straining Australia’s so-called “Covid-zero” strategy as vaccinations lag behind other developed nations. Residents can only go out for reasons such as food shopping, medical care or essential work and education that can’t be done from their own homes, New …

Bloomberg HSBC Holdings apologised to customers in Hong Kong after an update to its online and mobile banking terms stoked fears over overseas access to its services in the financial hub. The quick mea culpa by Hong Kong’s biggest bank — triggered by a Twitter post — underscores growing concerns in the city over not only civil society but also …

Bloomberg Danske Bank has been charged by Danish police for allegedly violating rules intended to protect investors from market manipulation. Denmark’s biggest bank, which is separately being investigated in the US and Europe amid an ongoing money-laundering case, says it received notice of preliminary charges from the Danish State Prosecutor for Serious Economic and International Crime, or SOIK. The case …

Bloomberg Thailand’s central bank held its benchmark rate unchanged, signalling a need to preserve policy space as the country grapples with its biggest wave of Covid cases and a weakening outlook for the tourism-reliant economy. The Bank of Thailand’s rate setting committee unanimously decided to hold rates at a record low of 0.5% for a ninth straight meeting, as expected …

Bloomberg The European Central Bank (ECB) said it will start overseeing “systemic” investment firms as a long-planned legal change adds to responsibilities that have steadily expanded in recent years. Firms with more than 30 billion euros ($35.8 billion) of assets that underwrite or trade financial instruments on their own account will now have to apply for banking licenses under new …