Bloomberg Russian oil giant Rosneft PJSC warned of an impending shortfall in supply as global producers channel funds into a “hasty” energy transition. “The world risks a severe deficit of oil and gas,” Rosneft CEO Igor Sechin said at the St Petersburg International Economic Forum. “The world consumes oil, but isn’t ready to invest in it.” His comments echo those ...

Bloomberg The days of promoting liquefied natural gas as “freedom gas” or “molecules of freedom” have ended at the US Department of Energy. During a visit to Houston, US Secretary of Energy Jennifer Granholm said the Biden administration would rather promote and sell a cleaner version of the superchilled power plant fuel. The statement marks a policy shift from the ...

Zoom Video Communications Inc, maker of the ubiquitous videoconferencing tool that made a global pandemic less isolating, just reported another quarter of explosive growth. While its business may not continue to soar quite so much, Zoom is well positioned, appears to have a loyal fan base and continues to innovate. It has also achieved a rare corporate feat: It created ...

A crisis of political legitimacy is hanging over Malaysia’s government just when it needs to make tough decisions to tackle a relentless surge in Covid-19 infections. It’s hard to see the ongoing state of emergency ending in August as promised. Parliament was suspended in January in the name of fighting the pandemic, allowing Prime Minister Muhyiddin Yassin to stay in ...

When a company faces shareholder activism, the temptation is to find quick rewards for investors at the expense of the business. But GlaxoSmithKline Plc — now a target for Elliott Management Corp — is in a bind because its heavy dividend commitments have already long constrained its ability to invest in new medicines. The UK drugmaker should use the forthcoming ...

Ocean conservation was once a goal for Democrats and Republicans alike. In Congress, they collaborated to ensure that US fisheries would be sustainably managed, to protect imperiled marine creatures by banning the use of driftnets and shark finning, and to set aside large areas of the ocean for special protection. While he was president, George HW Bush designated six National ...

Bloomberg UK tourists scrambled to return from Portugal before a quarantine requirement kicks in on Tuesday, driving up ticket prices as travellers rearranged flights ahead of the deadline. A three-hour British Airways flight from Faro, in the popular Algarve region, to London City airport on Monday night costs $1,000, according to Skyscanner. The following day, when passengers will be subject ...

Bloomberg Labour unions have asked the federal government to review its approval of Breeze Airways to operate in the US, citing concerns over the discount carrier’s recruitment and employment policies. The unions said Breeze, an upstart domestic carrier founded by airline entrepreneur David Neeleman, violated age discrimination and diversity statutes with a plan to hire flight attendants solely through a ...

Bloomberg IndiGo, one of Asia’s biggest budget airlines, reported a wider-than-anticipated loss as passenger traffic shrank with the coronavirus tearing through India. The carrier, operated by InterGlobe Aviation Ltd, posted a loss of $157 million in the three months through March, its fourth quarter. That compared with a loss of 8.7 billion rupee a year ago. The average forecast from ...

Bloomberg Thousands of female Tesco Plc workers in the UK were handed a post-Brexit boost after the European Union’s top court said the bloc’s rules on equal pay for equal work can be invoked in supermarket pay cases. The UK’s largest retailer lost a ruling, which allows EU law to be taken into account when determining if predominantly female shop ...