Bloomberg Former European Central Bank (ECB) President Mario Draghi urged governments to channel stimulus funds toward sectors that can create new jobs for young people rather than spending money to defend the status quo. “Subsidies will have to go down but at the same time jobs will be created,” Draghi said at an online event. “It’s very good if the …

Bloomberg European stocks extended gains with US equity futures as investors anticipated positive reports on jobs and the economy in Washington. The dollar headed for its best advance in eight sessions. All 19 industry groups pushed higher on the Stoxx Europe 600 Index, with chemicals and technology shares among the top gainers. Infrastructure giant Atlantia SpA jumped as much as …

Bloomberg Tech stocks around the world are pushing all-time highs, spurring headline-grabbing listings by the dozen, yet in Europe the biggest news in the sector is a company looking to leave public markets. Startup factory Rocket Internet SE has brought at least nine initial public offerings (IPOs) to market over the past five years, but said it would be “better …

Bloomberg Global trade is on course to recover more quickly from the coronavirus pandemic than after the 2008 financial crisis, according to Germany’s Kiel Institute for the World Economy. Shipping volumes are already back at levels that took more than a year to reach following the collapse of Lehman Brothers Holdings Inc., hinting at a V-shaped recovery, the institution’s President …

Bloomberg The Trump administration is relaxing Obama-era requirements stemming toxic heavy metal pollution from coal-fired power plants. Under the Environmental Protection Agency (EPA) rule, electricity companies would have more time and flexibility to treat power plant wastewater that contains mercury, arsenic and other toxic heavy metals. Older coal power plants that are shutting down or switching to natural gas by …

Bloomberg Total SE will team up with Macquarie Group’s green bank to develop more than 2 gigawatts of floating wind farms off South Korea, the latest push by the French oil and gas giant to diversify into clean energy. Total and European peers such as Royal Dutch Shell Plc and BP Plc have vowed to reduce their exposure to fossil …

Bloomberg UK electricity has never been cleaner. As wind, solar and biomass plants produced more power than ever in the second quarter, carbon emissions fell by a third from a year earlier, according to Drax Electric Insight’s quarterly report. Power prices slumped 42% as demand plunged during lockdown. “The past few months have given the country a glimpse into the …

Bloomberg Walmart Inc’s answer to Amazon Prime finally has a launch date. The new subscription programme, dubbed Walmart+, will be available from September 15, the world’s largest retailer said in a statement. The program costs $98 a year, a discount to rival Amazon’s $119 annual Prime membership, and includes unlimited free delivery — including on groceries — plus gasoline discounts. …

Bloomberg Air France-KLM is firming up a plan to raise funds by May of next year after agreeing a rescue package from the Dutch and French governments to help outlast the global aviation crisis. The carrier “intends to implement measures to strengthen its equity and quasi-equity,” Air France-KLM said in a statement Tuesday, reiterating a timeline given previously by Chief …

Bloomberg Wizz Air Holdings Plc dropped plans to increase capacity to 80% next quarter after a resurgence of travel restrictions dented demand. The Hungarian carrier will maintain its current 60% level for the period ending in December if stricter measure continue including in its home country, it said on Tuesday in a statement. Further reductions are possible and the carrier …