Bloomberg Returns from turning oil into fuels are lagging behind crude’s jump, signalling that prices are still vulnerable and demand may not be recovering fast enough to justify the rally. Crude futures have soared 73% in May, rebounding from their historic crash below zero just over a month ago, helped by production cuts across the globe after the coronavirus crisis ...

Bloomberg The oil and natural gas capital of the world is going all-in on solar power. Houston will begin a new five-year contact in July with NRG Energy Inc to power all of its city-owned properties, from fire stations to airports, with renewable energy. The move means the nation’s fourth-largest city will reach its goal of 100% renewable power five ...

There are two important lessons in the announcement that the Federal Bureau of Investigation (FBI) has finally succeeded in cracking two mobile phones belonging to the aviation student who killed three people last December at a naval base in Pensacola, Florida. The first lesson is that cracking an encrypted device takes time and effort even when the federal government brings ...

The work-from-home movement is gaining steam in Silicon Valley as a flurry of companies — big and small — are embracing remote-working policies beyond the pandemic. But even as some executives extol its virtues, other tech leaders aren’t so sure, opening a growing divide inside the industry over the future of work. It’s a worthy debate. Facebook Inc CEO Mark ...

Franco-German plan for a 500 billion-euro ($548 billion) “recovery fund” for the European Union has raised the hackles of a group of smaller countries, made up of Austria, the Netherlands, Sweden and Denmark. The so-called “frugal four” believe the EU should only loan the money to the countries most affected by the Covid-19 pandemic, rather than giving it away in ...

This summer, the National Aeronautics and Space Administration (NASA) will launch a rover designed to collect samples of the Martian surface and store them until they can eventually be brought back to Earth. When they arrive, according to a former Nasa scientist, they’ll be “quarantined and treated as though they are the Ebola virus until proven safe.” His statement caused ...

Bloomberg Alibaba Group Holding Ltd expects revenue growth to slow this year, reflecting post-Covid 19 economic uncertainty at home as well as the potential for US-Chinese tensions to disrupt its business. The e-commerce giant forecast sales growth this year of at least 27.5% to more than 650 billion yuan ($91 billion), down from 35% previously and slightly below analysts’ estimates. ...

Bloomberg Southwest Airlines Co expects flying capacity later this year to be down about 30% from 2019, potentially leaving the company overstaffed, Chief Executive Officer Gary Kelly said. The carrier may be forced into the first involuntary furloughs in its 49-year history if travel demand doesn’t pick up more swiftly over the summer, Kelly said in a video message to ...

Bloomberg EasyJet Plc founder turned activist Stelios Haji-Ioannou lost out on an attempt to remove the UK airline’s management and block Airbus SE jet purchases. Shareholders resolved to retain four directors including Chief Executive Officer Johan Lundgren, Chairman John Barton and Chief Financial Officer Andrew Findlay at a virtual meeting. Haji-Ioannou, EasyJet’s top investor with a 34% stake, has spent ...

Bloomberg Amazon.com Inc’s Prime Air fleet will grow to about 200 planes — up from 42 now — in the next seven or eight years, creating an air cargo service that could rival United Parcel Service (UPS), according to a study. “At a time when many other airlines are downsizing due to the pandemic, Amazon’s push for faster and cheaper ...