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Bloomberg Plug Power Inc plans to open a hydrogen-production plant powered by the wind near Fort Worth, Texas as part of a nationwide chain of facilities to make the clean-energy fuel. The plant will be able to produce up to 60 metric tons of hydrogen per day, Chief Executive Officer Andy Marsh said on a conference call with analysts, without ...
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May, 2021
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16 May
Sasol to sell 30% Mozambique gas pipe stake for $361m
Bloomberg Sasol Ltd agreed to sell a 30% stake in a natural gas pipeline running from Mozambique to South Africa for as much as 5.1 billion rand ($361 million) in order to pay down debt. The deal rounds out an accelerated asset-sale program that has helped Sasol reduce borrowings that ballooned amid cost overruns at a giant US chemicals project ...
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16 May
Mexican power plants boost dirty fuel oil use
Bloomberg Fuel that is so dirty that the global shipping industry banned its use last year is being burned at the highest level in three years in Mexican power plants. With the global shipping industry shunning sulfurous fuel oil to curb emissions, storage tanks in Mexico are overflowing with the stuff. The solution for Mexico is to push more of ...
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16 May
Marathon plans $10b buyback after Speedway sale
Bloomberg Marathon Petroleum plans to repurchase as much as $10 billion of stock after the US oil refiner completed the sale of its Speedway fuel retail chain. The plan starts with a cash tender offer to buy as much as $4 billion of shares, or about 10% of its current market value, the company said. The repurchase would be the ...
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16 May
India variant won’t halt UK’s reopening — yet
Although the eradication of Sars-CoV-2 would be nice, most people accept we’ll have to live with the virus for some time, almost as we do with the flu. But a variant from India is now forcing the UK to define just what “living with it†means. It comes as England reaches another milestone on its roadmap to unlocking. From Monday, ...
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16 May
If China shrinks, it’s world’s problem
China’s slowest population growth in decades may be felt more acutely beyond its borders than within them. The economy will keep humming and incomes can continue to climb, albeit at a slower rate. The rest of us, however, will need to adjust to a persistently slacker pace of global expansion and the prospective ebbing of deflationary pressure. The caricature of ...
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16 May
Colombia’s tax reform protests is a warning
Over the last two weeks, protests against a tax reform proposed by the Colombian government have left dozens of people dead, injured hundreds more, and brought much of the country to a standstill. At least 15 people have been killed in Cali, Colombia’s third-largest city, where more than 10,000 troops and police officers are fighting rioters who’ve barricaded the main ...
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16 May
The CDC’s new mask rules leave kids out
The US Centers for Disease Control and Prevention (CDC) made waves when it announced last week that vaccinated people can doff their masks. But one group of people has no hope of doing so: kids, for whom vaccines are still largely not authorised by the Food and Drug Administration. Only the Pfizer shot is authorised for kids as young as ...
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16 May
Philippine Air mulls Chapter 11, in talks to reduce its fleet
Bloomberg Philippine Airlines Inc is in talks with plane lessors about reducing its fleet size and has told them it’s considering a Chapter 11 filing in the US to carry out a restructuring, according to people familiar with the plan. The airline could return at least two Airbus SE A350s to lessors and four of the 10 Boeing Co. 777s ...
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16 May
Go Air seeks approval for $490m India IPO
Bloomberg Go Airlines India Ltd, a no-frills carrier controlled by the Wadia Group, has sought approval from India’s markets regulator to raise as much as 36 billion rupees ($490 million) through an initial public offering. The company may consider a pre-IPO share issue of as much as 15 billion rupees, the airline said in its prospectus, adding the IPO size ...
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