Bloomberg Betting on growing demand to finance and support mini power plants, Schneider Electric SE said that it was partnering with investors to launch a new company focussed on microgrids for small and medium-sized US businesses. Investors led by Jeff Ubben’s new sustainable investment firm Inclusive Capital Partners and clean energy-focussed Huck Capital, will back the partnership. Having reliable, sustainable ...

Bloomberg Shale explorers parked more drilling rigs in the US this week as stagnant oil prices push the industry to extend a historic retrenchment. The number of active oil rigs in US fields fell by 4 to 172, according to Baker Hughes data. That’s the lowest level of activity since 2005, before the shale boom kicked off. The worst may ...

Bloomberg President Donald Trump has ordered the Chinese owner of the popular music video app TikTok to sell its US assets, citing national security concerns and delivering the latest salvo in his standoff with Beijing. Trump’s decision came after an investigation by the Committee on Foreign Investment in the US, which reviews acquisitions of American businesses by overseas investors for ...

Bloomberg The UK government’s bailout talks with Jaguar Land Rover (JLR) and Tata Steel Ltd. recently broke off, the Financial Times reported, citing people it didn’t identify. Talks between the UK’s Treasury and the companies, both owned by Mumbai-based Tata Group, came to a halt after the government concluded the Indian multinational was sufficiently financed and didn’t qualify for taxpayer ...

Bloomberg Facebook Inc joined a growing list of developers to publicly criticise Apple Inc over its revenue-sharing policy for in-app purchases, suggesting the iPhone maker’s fee structure is hurting small businesses during a global pandemic. The social network rolled out a paid events feature in 20 countries, offering businesses the ability to charge users for access to live video streams, ...

Bloomberg Facebook Inc is beginning to merge the chat function of its Instagram and Messenger services, the Verge reported. The changes are coming with an update of the company’s apps on Apple Inc’s devices as well as Android devices, said the Verge, citing reports from users. Once updated, the Instagram app embeds Messenger functionality, and adds more emojis and features ...

Bloomberg Hyundai Motor Co will manufacture electric vehicles in Singapore starting in 2022, the Straits Times reported. The Seoul-based automaker will produce 30,000 electric cars a year at the Singapore plant, with as many as 6,000 set to be sold in the city-state, the newspaper said, citing Teo Hock Seng, executive chairman of Hyundai distributor Komoco Motors. The first vehicle ...

Bloomberg Western Europe’s electric-vehicle sales pulled ahead of China’s last month after countries including Germany and France boosted government subsidies to stimulate demand that had been decimated by the pandemic. The roughly 500,000 plug-in hybrid and battery-electric vehicles registered in Europe during the first seven months of the year exceeded China’s sales by about 14,000 units, according to a report ...

Bloomberg At the start of the Covid-19 pandemic, contact tracing was considered the best hope for getting people back to offices and schools safely without a vaccine. The tech industry was optimistic that apps would provide a faster, more effective alternative to the usual painstaking human process of calling and interviewing the networks of infected people to figure out possible ...

Dubai / WAM The United Arab Emirates dispatched more aid to Lebanon to help emergency relief efforts in Beirut. The move follows the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai. Dubai’s International Humanitarian City airlifted aid material worth $1.4 million on an Emirates SkyCargo plane. ...