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  Bloomberg The cost of oil tankers that can navigate icy waters has surged ahead of looming European Union sanctions on the export of Russian crude. Some ice-class Aframax vessels have recently been sold at between $31 million and $34 million, double the price compared with a year earlier, said shipbrokers. The bids for tankers have been aggressive and most …

  Bloomberg BP Plc’s electric-vehicle charging business is partnering with Addison Lee, London’s largest car and courier service, to keep its drivers from running out of battery range. Addison Lee’s fleet of EVs — which is expected to be 1,000 strong by the end of the year — will get enhanced access to BP Pulse’s more than 3,000 charging points, …

  Bloomberg Europe’s largest oil refinery suffered a malfunction, a potential source of jitters for the continent’s refined fuels market where supply has already been hit by industrial action. The compressor of fluid catalytic cracker unit 2 tripped on Oct. 12 due to the loss of power supply, according to a fire safety alert from the region’s Rjinmond Veilig service. …

  Bloomberg Qantas Airways Ltd has surged back to profitability on booming travel demand after most pandemic-era curbs were dismantled, helping shore up Alan Joyce’s position as chief executive officer and sending the shares to their biggest gain in two-and-a-half years. First-half underlying profit before tax is seen at A$1.2 billion to A$1.3 billion ($816 million) — ending a streak …

  Bloomberg European Union (EU) nations backed off from a confrontation over what proportion of takeoff and landing slots airlines should be compelled to use this winter. Member states have agreed to a use-them-or-lose-them level of 75% for the airport slots, up from 64% now, as demand rebounds from the coronavirus crisis, according to a statement from the European Council. A …

Bloomberg LVMH sales jumped as the owner of Louis Vuitton and Christian Dior benefited from wealthy American tourists splurging on luxury goods in Europe. Defying fears of a global recession, sales of LVMH’s fashion and leather goods soared 22% on an organic basis in the third quarter, the company reported. Analysts had expected a gain of 16%. Even so, the …

Bloomberg PepsiCo Inc. said its playbook for battling inflation is still working, with price hikes fuelling double-digit gains in sales despite lower volumes of snack purchases. The company beat profit estimates for the third quarter and raised its forecast for the year. That’s a positive sign for investors at the start of an earnings season where anxieties are running high …

  Bloomberg Starbucks Corp. violated federal law in Kansas and Missouri by firing pro-union employees, stepping up enforcement of its dress code in response to union organising and asking for police to disperse workers with picket signs, a National Labour Relations Board judge ruled. The agency judge’s decision requires Starbucks to offer reinstatement with back pay to four employees, and …

  Bloomberg Plant-based burger maker Beyond Meat Inc. is conducting further layoffs following a round of cuts made in August, according to people familiar with the matter. It wasn’t immediately clear how many workers were terminated. Beyond Meat asked employees to work from home and restricted access to documents. Management then set up individual calls to inform some workers that …

  Bloomberg Asian governments spent about $50 billion in foreign-exchange reserves last month — the highest level since March 2020 — to defend their currencies from a relentless advance in the US dollar. Exante Data Inc., a firm that specialises in tracking global capital flows, estimates emerging Asian nations excluding China spent nearly $30 billion with dollar sales in the …