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  Bloomberg German energy giant E.ON and Australia’s Fortescue Future Industries plan to supply green hydrogen to Europe as the continent seeks to cut its dependency on Russian energy. The companies will work together to supply 5 million metric tons of green hydrogen a year by 2030, they said in an emailed statement, after signing a memorandum of understanding in …

  Bloomberg Cathay Pacific Airways Ltd plans to reroute its New York-Hong Kong service to avoid Russian airspace, in what would be the world’s longest commercial passenger flight by distance. The airline plans to fly from John F Kennedy International Airport over the Atlantic Ocean, the UK, southern Europe and central Asia, according to a memo to Cathay flight staff …

  Bloomberg India is banking on sustainable fuel-powered airlines and increased digitisation in airports to clean up aviation as the nation prepares for a net carbon zero future by 2070. India will have 96 airports that will be carbon neutral and run on renewable energy by 2024, Civil Aviation Minister Jyotiraditya Scindia said at an event, adding all future airports …

  Bloomberg Cebu Air Inc, the Philippines’ largest carrier, will fully restore its pre-pandemic domestic capacity next month as virus restrictions ease, Chief Executive Officer Lance Gokongwei said. “The travel and tourism sector is well on its way to recovery,” Gokongwei said in a company event in Cebu province, citing increased bookings. Flights from Manila to key local destinations like …

  Bloomberg Ted Baker Plc’s board rejected two bids from private equity fund Sycamore Partners Management LP, the most recent one for about 254 million pounds ($334 million). Sycamore offered 130 pence a share and raised that to 137.5 pence a share, Ted Baker said. The second bid was 9% higher than the closing price. The shares fell as much …

Bloomberg The UK allocated a record 685 million pounds ($898 million) of funding over the next three years for the development of aerospace technology, as the industry gears up to make the transition to renewable fuel. The Aerospace Technology Institute will receive an increase of more than 50% on its previous award, the government said in a statement. The group …

  Bloomberg United Airlines is investing in a startup that could help make larger quantities of jet fuel that’s more environmentally friendly. United announced an initial $5 million investment in Cemvita Factory Inc. and is “contemplating a larger relationship,” according to Mike Leskinen, president of the airline’s venture fund. The Houston-based startup is also backed by Occidental Petroleum Corp. Cemvita …

  Bloomberg Bank of China Ltd. reported its biggest profit increase in almost a decade last year as lending momentum recovered in the second year of the pandemic and a build-up in bad loans eased. Net income jumped 12.3% from a year earlier to 216.6 billion yuan ($34 billion) in 2021, the lender said in a filing. That beat a …

  Bloomberg UBS Group AG is laying off equity capital markets bankers because of a sharp decline in revenue after a slowdown in deal-making across the industry, according to people familiar with the matter. The Swiss firm began laying off a handful of bankers in equity linked and capital markets in Europe and Africa this month, the people said, asking …

  Bloomberg European banks could earn almost 6 billion euros ($6.6 billion) in annual revenue from financing the transition to a more sustainable economy, according to their top regulator. “The balance sheet choices banks will make about green and non-green assets will materially impact their bottom lines,” said Andrea Enria, who leads the European Central Bank’s supervisory board. “Consumers and …