Bloomberg Oil in New York extended its recent rally to a new 10-month high as the dollar edged lower, increasing the appeal of commodities priced in the currency. Earlier, futures rose above $53 a barrel to the highest since February 2020. Prices have been climbing since the beginning of the year after promises of unilateral crude output cuts from Saudi …

Bloomberg Another big battery project has been announced in Australia, as energy storage developers rush to profit from the nation’s abundant sunshine and wind resources. Origin Energy Ltd issued an expression of interest to firms to supply and install a 700-megawatt facility near the Eraring coal plant in New South Wales, with the first phase planned to start by the …

Bloomberg BHP Group, the world’s biggest mining company, has invested in a startup company seeking to develop less-polluting ways of making steel. While many in the mining industry have outlined how they plan to curb their own direct pollution, those emissions are a fraction of ones produced by customers, with steelmaking one of the biggest global emitters. Rather than set …

Bloomberg SAS AB is unexpectedly losing its chief executive officer, leaving Scandinavia’s main airline to search for a replacement with the industry going through an unprecedented crisis. CEO Rickard Gustafson is leaving to take the top job at Swedish industrial giant SKF AB, according to a statement. The 56-year-old, who has spent a decade at the helm of Stockholm-based SAS, …

Bloomberg In a bid to better leverage its millions of customers, retail giant Walmart Inc created a fintech startup to win more of their spending. The company has formed a partnership with Ribbit Capital, an investor in stock-trading platform Robinhood, to start a venture that “will bring together Walmart’s retail knowledge and scale with Ribbit’s fintech expertise to deliver tech-driven …

Bloomberg Airbus SE former Chief Executive Officer Tom Enders has become the latest aviation stalwart to throw his weight behind the future of flight, joining the board of German startup Lilium. Enders, an industry veteran with almost three decades of experience, spent seven years at the helm of planemaker Airbus before stepping down in 2019. Lilium impressed him with its …

Bloomberg Representatives from Boeing Co and the US National Transportation Safety Board (NTSB) will leave for Jakarta this week to help with an investigation into Saturday’s crash of a Sriwijaya Air passenger jet, which hurtled into the Java Sea with 62 people on board. The Indonesian government granted a waiver allowing the Boeing and NTSB officials to enter the country …

Bloomberg Australian household spending jumped in November as the southeastern state of Victoria was released from lockdown and consumers took advantage of discounts during annual Black Friday sales. Retail sales advanced 7.1% from a month earlier, compared with the 7% gain forecast by economists and the 7% reported in late December as the preliminary figure, data from the Australian Bureau …

Bloomberg India’s central bank expects banks’ bad-loan ratios to almost double this year and warned that soaring markets and a weakened economy threaten financial stability. The Reserve Bank of India (RBI) forecasts non-performing assets will rise to 13.5% of total advances by the end of September from 7.5% a year ago, according to its semiannual Financial Stability Report. If the …

Bloomberg India will seek to narrow its budget deficit next financial year, amid expectations of improved revenue collections and economic rebound, according to Standard Chartered Bank Plc. Finance Minister Nirmala Sitharaman will likely target fiscal deficit — the gap between income and expenditure — at 5.3% of gross domestic product in the budget for the year starting April 1, the …