Bloomberg In a parched and dusty patch of land in California’s central valley, a series of wells has been pumping out some of the state’s dirtiest crude oil. Almost a century after the Chico-Martinez oilfield was first opened about 145 miles north of Los Angeles, it is still producing heavy crude. But to do it, drillers have turned to techniques ...

Bloomberg South Africa’s government is considering selling a green infrastructure bond worth tens of billions of rand as part of its biggest drive ever to kickstart private investment in projects ranging from energy to water reticulation. The proposed instrument is one of several mechanisms the country could use to raise finance for projects worth as much as $86 billion over ...

Medicalising unpleasant character traits or bad behaviors by blaming them on “addictions” worsens the modern tendency to minimise individual responsibility. However, about your sports addiction… Imagine your brain on sports. It is not a pretty picture. The most wondrous thing in the universe is the human brain, and for decades yours has devoted much (most, to be honest) of its ...

You might not have thought it three months ago, when the spread of Covid-19 forced Qantas Airways Ltd to halt international flights and drove its shares to their biggest percentage drop in eight years. But a global pandemic could wind up being good news for the company. Australia’s dominant airline is now something close to a monopoly player. Virgin Australia ...

European Union countries are experimenting with new ways of dealing with the coronavirus. Germany, Portugal and Italy have all enforced selective or “smart” lockdowns, shutting down smaller regions in response to new outbreaks as opposed to bringing their entire countries to a halt. This approach is the only hope of returning to a more normal life as we wait for ...

The Silicon Valley innovation machine is the envy of the world. It’s where the most ambitious entrepreneurs go to start their world-changing companies. But President Donald Trump’s latest action to restrict immigration may needlessly risk the future of this key strategic asset. Perhaps, instead, we shouldn’t mess with something that is working. Trump signed an executive order that freezes access ...

Bloomberg Deutsche Lufthansa AG’s biggest stockholder publicly backed a 9 billion-euro ($10 billion) government bailout, giving the rescue plan a major shot of momentum and boosting the airline’s shares and bonds just before a crunch vote. With Heinz Hermann Thiele declaring support after days of frenzied speculation about his intentions, the state rescue appears likely to secure the two-thirds backing ...

Bloomberg EasyJet Plc raised about 419 million pounds ($520 million) in a share sale, padding its coffers for the gearing up of flights as the European aviation sector emerges from the coronavirus lockdown. The stock offering, equal to almost 15% of the existing share base, was placed at the price of 703 pence a share, representing a 5% discount to ...

Bloomberg Swissport International AG plans to cut more than 4,500 jobs in Britain as the world’s biggest provider of airport ground and cargo handling services responds to a collapse in demand for air travel. The Zurich-based company, which is owned by troubled Chinese conglomerate HNA Group Co, needs to reduce employment to cope with a 50% drop in revenue this ...

Bloomberg Qantas Airways Ltd will raise as much as A$1.9 billion ($1.3 billion) and cut at least 6,000 jobs as the coronavirus pandemic continues to keep carriers around the world largely grounded. The Australian airline said on Thursday also that 15,000 workers will remain furloughed, particularly those tied to international operations. The carrier’s entire fleet of 12 Airbus A380 superjumbos, ...