Bloomberg Hydrogen made from renewable power will be competing on price with producing the gas from fossil fuels within two decades, according to analysis by research firm Wood Mackenzie Ltd. The cost of green hydrogen will drop 64% by 2040, the researchers said. Hydrogen is seen as key to cutting global greenhouse gases as it could eliminate the use of …

Bloomberg Boeing Co grounded eight of its 787 Dreamliner jets for inspection and repair after finding two manufacturing flaws that together could compromise the structural integrity of the aircraft. The distinct issues involve the composite barrel sections at the rear of the wide-body plane, which are melded together at a Boeing plant in South Carolina. Together, the flaws cause the …

Bloomberg London’s Gatwick airport asked creditors to change the terms on its 3.4 billion-pound ($4.5 billion) debt pile to allow the transport hub to recover from a slump in air travel. The UK’s second-largest airport wants investors in its debt, including those holding 2.8 billion pounds of its bonds, to waive covenants and change certain conditions in the financing documents. …

Bloomberg Kenya Airways Plc expects demand for air travel for the rest of this year to be less than half the level in 2019 due to the ongoing effect of the Covid-19 pandemic. The partially state-owned East African carrier is starting to resume international flights after the government eased travel restrictions it imposed to help contain the coronavirus. The anticipated …

Bloomberg Steinhoff International Holdings shareholders voiced their frustration with scandal-hit retailer by voting against proposed changes to director pay policies and rejecting financial statements for last year. Investors logged into the South African company’s virtual annual meeting and protested against the extent of fees paid to various advisers, some related to a deal the retailer reached with creditors to skip …

Bloomberg Cosmetics maker Coty Inc reported worse-than-expected results in its fourth quarter, posting a $1.2 billion drop in sales year on year as consumers stuck at home during the pandemic skipped beauty-product purchases. Sales of $922.1 million in the company’s fiscal fourth quarter were down 56% year on year and worse than analysts’ estimate of $1.34 billion. After a brutal …

Bloomberg Gap Inc tempered the pace of its sales decline in the second quarter, outpacing analysts’ estimates by picking up e-commerce customers. Sales for the period, which ended on August 1, fell 18% from a year earlier to $3.3 billion, higher than analysts’ projection of $2.9 billion. The company, which owns the Old Navy and Banana Republic brands, increased comparable-store …

Bloomberg Centricus Asset Management Ltd. and Triller Inc. are seeking to buy TikTok’s operations in the US and several other countries from ByteDance Ltd. for $20 billion, according to a person familiar with the matter. Investors led by London-based Centricus will partner with US-based Triller, another video and music-based social networking app, which would have a minority stake in a …

Bloomberg McLaren Automotive’s first new vehicle chassis in a decade will carry a big burden, underpinning the supercar maker’s transition to all-electrified powertrains. The first of the gas-electric hybrid models built off the carbon fiber architecture will debut next year, McLaren said in a statement. Its composites technology center in Northern England’s Sheffield region developed the chassis and will produce …

Bloomberg Google and Facebook Inc. dropped plans for an undersea cable between the US and Hong Kong after the Trump administration said Beijing might use the link to collect information on Americans. But the companies quickly submitted a revised proposal that includes links to Taiwan and the Philippines, as envisioned in the application that was withdrawn last week. The new …