Bloomberg China stocks climbed on optimism before President Xi Jinping’s address in the southern city of Shenzhen this week. The Hang Seng China Enterprises Index rises 2.7%, poised for the most since July 6, as of 3:07 pm in Hong Kong. Xiaomi Corp. surged 7.9% to lead gains, while Industrial & Commercial Bank of China Ltd. (ICBC) jumped the most …

Bloomberg Libya took a major step towards reviving its battered oil industry by reopening its biggest field, as Opec+ tries to curb global supplies. The National Oil Corp, Libya’s state energy company, lifted force majeure on the western deposit of Sharara and instructed its operator to resume production, according to a statement on Sunday. The field will initially pump 40,000 …

Bloomberg In a couple of years, Japan will be paying the highest rates in the world to incumbent power utilities simply for maintaining generation capacity, including coal and nuclear plants, to help meet electricity demand in times of scarcity. That windfall comes at a time when Japan is seeking to liberalise its market, encourage new entrants and boost the use …

Bloomberg Total SE took a stake in a French floating wind farm project, its third investment in the nascent industry this year as the oil and gas giant reshapes itself for a low-carbon future. While wind farms built directly on the sea bed have become widespread and cost-competitive with other forms of energy, floating turbines that would allow clean electricity …

Bloomberg A landmark law to strengthen European Union climate policies and make the 2050 goal of climate-neutrality irreversible risks falling off a fast-track approval process, as the bloc’s leaders take time to consider the economic impact of the unprecedented overhaul in the midst of the deepest recession on record. EU heads of government plan to discuss the draft measure at …

Bloomberg Malaysia Airlines Bhd is prepared to shut down if ongoing talks with leasing companies about a restructuring plan fail, The Edge Malaysia cited the national carrier’s chief executive officer as saying. A “sizable” number of creditors support the company’s plan, some are against it and others are still undecided, Izham Ismail told the business weekly in an interview. The …

Bloomberg Air Canada slashed the purchase price for tour operator Transat AT Inc to almost a quarter of its earlier offer, citing the impact of the Covid-19 outbreak on the air transport industry. The Montreal-based airline said it’s cutting the offer for Transat to C$5 a share from C$18 when the deal was announced in August 2019, valuing the company …

Bloomberg L’Oreal SA plans to close retail locations to restructure its US luxury operations as the company grapples with severe changes to consumer behaviour amid the pandemic. The Luxe Division of L’Oreal USA plans to shift investment to growth areas such as e-commerce as part of the reorganisation over the next six months, the company said in a statement in …

Bloomberg Reliance Retail, owned by Indian tycoon Mukesh Ambani, has withdrawn from the race to buy Debenhams Plc, The Sunday Times reported, quoting a source close to the process. Reliance had denied previous reports that it was in talks about buying all or part of Debenhams. Multiple parties remained interested in the company, according to The Sunday Times. The UK …

Bloomberg Airbus SE delivered more aircraft in September than any month this year, a victory in the European planemaker’s battle to keep factories running and revenue flowing amid a prolonged downturn in air travel. The tally of 57 jets, mostly single-aisle with a handful of long-range aircraft, compared with 39 handovers recorded in August, according to a statement. Still, Airbus …