Bloomberg Just five years ago it would have been almost unthinkable that one of the world’s biggest mining companies would not dig any coal. It’s now likely to become a reality. Rio Tinto Group, the world’s second-largest miner, has been steadily backtracking from coal to focus on better assets. It’s now looking for buyers for its remaining coal mines in ...

Bloomberg The competitiveness of wind energy is taking a toll on profits, according to Vestas Wind Systems A/S, whose share price took the biggest hit in six years after missing analysts’ estimates. Vestas shares sank as much as 21 percent to 416.60 krone in Copenhagen. More than 5 million shares changed hands so far today, about five times more than ...

Bloomberg There’s long been a Catch-22 about residential solar: despite staggering market demand, it’s been hard to make money doing it. Until now. Sunrun Inc. said that it’s cash-flow positive. And Blackstone Group LP-backed Vivint Solar Inc. expects to hit that mark next year. Rooftop solar installers have chased growth in recent years, investing revenue into marketing and installations. The ...

Bloomberg Venezuela is set to pump the least oil in almost three decades, just when it needs petrodollars the most. Output is expected to slump to 1.84 million barrels a day next year, the lowest compared with official government data since 1989, according to a survey with four analysts compiled by Bloomberg. Rig counts hit a 14-year low in October, ...

Bloomberg Alibaba Group Holding Ltd.’s Singles’ Day shopping bonanza broke last year’s all-time high of 120.7 billion yuan ($18.2 billion) by 1:09 pm in Beijing, with about 11 hours still to go before the final bell. The annual frenzy had already hit $8.6 billion in sales in the first hour after starting at midnight, and by 8 am some 82 ...

Bloomberg MAP Active, the Indonesian sporting goods retailer backed by CVC Capital Partners, is planning a domestic initial public offering that could raise about $300 million, people with knowledge of the matter said. The company, which is a unit of Jakarta-listed PT Mitra Adiperkasa, aims to sell shares as soon as next year, according to the people. It has invited ...

Bloomberg Mahindra & Mahindra Ltd. is considering introducing vehicles made by its South Korean subsidiary in the US, according to Managing Director Pawan Goenka. Mahindra hasn’t yet decided which SsangYong Motor Co. models it will sell in the US, Goenka said in an interview in Mumbai. The automaker is waiting for the board of its South Korean unit to approve ...

Bloomberg The euphoria around Chinese fintech listings may be starting to wane. Online lender PPDAI Group Inc. raised $221 million after pricing its US initial public offering below the bottom end of a marketed range. The stock climbed 1.2 percent to $13.15 as of 12:52 pm in New York. Rival Qudian Inc. fell below its offer price the week after ...

Bloomberg European Union chief negotiator Michel Barnier raised the prospect of Brexit talks failing to reach a breakthrough by year-end, saying the UK has two weeks to come up with a better offer on the financial settlement. Barnier called for “real and sincere progress” on the three divorce issues, which include the separation bill, the rights of EU citizens and ...

Bloomberg Lyft Inc. has gained significant ground on its rival, Uber Technologies Inc., and is expected to grab more market share in the US, according to a private Lyft investor document obtained by Bloomberg. A major investor is projecting Lyft will have boosted its share of US ride-hailing business some 61 percent by the end of the year, climbing to ...