May, 2021

• 11 May

  Oil climbs as cyberattack knocks out US pipeline

  

  Bloomberg Crude oil climbed along with gasoline in New York after a cyberattack put the largest oil-products pipeline in the US out of action. West Texas Intermediate and Brent both rose as gasoline surged as much as 4.2% to the highest since May 2018, before paring gains. Colonial Pipeline Co, a supplier of gasoline, diesel and jet fuel to the …

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• 11 May

  Floward covers entire GCC region with launch in Oman

  

  Emirates Business Floward, the go-to online flowers and gifts delivery store in the region launched its services in Muscat, Oman making it the first expansion of the year for the company. With this expansion, the company now operates in 19 cities across seven countries. As part of its expansion strategy, Floward will gradually launch in different cities in the Sultanate, …

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• 11 May

  Norway’s oil fields to run on land-based green hydropower

  

  Bloomberg Norway is trying to make its dirtiest industry as clean as possible. The multi-billion-dollar plan will do little to reduce the nation’s overall climate impact. The Nordic country will use land-based green hydropower to electrify dozens of offshore oil and gas platforms. That will help meet national climate targets, and so allow the lucrative industry to keep pumping fossil …

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• 11 May

  Vestas Wind Systems plans to raise prices

  

  Bloomberg One of the world’s biggest wind turbine makers Vestas Wind Systems A/S will hike its prices as the costs of steel and transportation increase amid a global commodities boom that’s contributing to a rising risk of inflation. It’s an early sign that the surge in commodities prices and disruptions in supply chains could interrupt a trend of perpetually falling …

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• 11 May

  US LNG players tout carbon capture in bid to boost green image

  

  Bloomberg US LNG developers seeking to burnish their green credentials and boost their competitiveness on a crowded global stage are touting a costly and largely untested technology: carbon capture. Both Cheniere Energy and Sempra Energy, two of the largest American exporters of liquefied natural gas, announced they were looking to add carbon capture and sequestration capabilities to their projects. Last …

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• 11 May

  Air Canada pleads for plan to ease Covid-travel rules

  

  Bloomberg Flush with bailout funds, Air Canada called on the government of its home country to lay out a plan for reopening borders as vaccination progresses. Canada’s biggest air carrier is in a position to ramp up operations after reaching a deal for nearly C$5.9 billion ($4.8 billion) in debt and equity with the federal government last month. Chief Executive …

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• 11 May

  Airbus: China is muscling in on rivalry with Boeing

  

  Bloomberg Airbus SE expects China to become a legitimate rival in global planemaking by the end of the decade, upending the long-standing duopoly between the European company and US rival Boeing Co. China has long been a big customer for both manufacturers, accounting for a fifth of Airbus deliveries last year. The country is finally close to success in its …

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• 11 May

  JCPenney CEO touts $1.2b cash, credit buffer after bankruptcy

  

  Bloomberg JCPenney landed in bankruptcy court after foundering during the pandemic, but the reorganised retailer now sports a relatively big liquidity cushion and its sales are growing. The company has more than $1.2 billion of cash and credit availability, interim CEO Stanley Shashoua said. And the 119-year-old company, whose financials are no longer public, has improved sales since it left …

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• 11 May

  UK reopens travel to 12 nations as tourist hotspots miss out

  

  Bloomberg Britain will permit relatively open leisure travel to just 12 nations and territories including Portugal as it seeks to restart tourism while keeping control over the coronavirus pandemic. A legal ban on international leisure trips will be eased from May 17, the Department for Transport confirmed. Return journeys from approved countries will require Covid-19 tests but no period of …

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• 11 May

  Monde Nissin attracts GIC, AIA, Fidelity to $1b IPO

  Bloomberg Philippine food maker Monde Nissin Corp is in talks with Singapore state investment fund GIC Pte and Hong Kong insurer AIA Group Ltd to become cornerstone investors in what could be the country’s biggest-ever initial public offering, according to people familiar with the matter. Fidelity International and Capital Group Cos are also in discussions to buy stock in the …

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