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Bloomberg Oil rallied as a global squeeze on refined products continued to pull fuel prices higher. West Texas Intermediate rose 1.6% to trade near $112 on Monday as US gasoline futures topped $4 a gallon for the first time ever. Rising futures tend to trickle through to the pump quickly, signaling more pain for drivers when the summer driving season ...

  Bloomberg Britain’s departure from the European Union may make the economy more sensitive to inflation, a Bank of England rate setter said. “Brexit has reduced the UK’s potential output,” said Michael Saunders, one of the nine members of the Monetary Policy Committee. “It may also have increased the extent to which, if there is excess demand in the economy, ...

Abu Dhabi / WAM President His Highness Sheikh Mohamed bin Zayed Al Nahyan continues to accept condolences from heads of state, government leaders, and delegates from nations around the world over the death of late Sheikh Khalifa bin Zayed Al Nahyan. His Highness Sheikh Mohamed bin Zayed Al Nahyan received condolences, at Mushrif Palace in Abu Dhabi, from His Royal ...

Abu Dhabi / WAM President His Highness Sheikh Mohamed bin Zayed Al Nahyan continues to accept condolences from heads of state, government leaders, and delegates from nations around the world over the death of Sheikh Khalifa bin Zayed Al Nahyan. His Highness Sheikh Mohamed bin Zayed Al Nahyan received condolences, at Mushref Palace in Abu Dhabi, from His Royal Highness ...

  Bloomberg The euro area’s pandemic recovery would almost grind to a halt, while prices would surge even more quickly if there are serious disruptions to natural-gas supplies from Russia, according to new projections from the European Commission. Under a severe scenario, the currency bloc’s economy would expand about 0.2% this year, with inflation topping 9%, as governments struggled to ...

Bloomberg Ant Group Co has completed the first sustainability-linked loan arrangement in China’s tech sector. The Chinese fintech company spun off from Alibaba Group Holding Ltd has arranged a sustainability-linked revolving credit line with French bank BNP Paribas SA, according to a statement. Sustainability-linked loans (SLLs) have interest rates that change depending on if corporations are able to meet certain ...

Bloomberg New Zealand will accelerate its adoption of electric vehicles and investigate hydrogen as an alternative energy source as it seeks to phase out fossil fuels and play its role in mitigating global warming. Announcing its first emissions reduction plan in Wellington, the government said it will initially allocate NZ$2.9 billion ($1.8 billion) over four years to fund a range ...

  Bloomberg The US Commerce Department is deepening its probe into whether solar power companies are circumventing import tariffs, singling out some of the industry’s giants for increased scrutiny. The agency identified eight manufacturers, including industry leaders Longi Green Energy Technology, Trina Solar and Jinko Solar, for mandatory questionnaires to plumb for more information on whether they are skirting US ...

  Bloomberg The global lithium industry needs as much as $42 billion of investment by the end of the decade in order to meet demand for the crucial battery-making material, with attempts to build supply chains outside of China subject to much higher costs, according to a data and market-intelligence provider. The sector will require $7 billion of investment each ...

Of the many diplomatic spats and snubs that summarize the dismal relations between the UK and its historic continental frenemy of France, one phrase sticks in the mind: “Prenez un grip, and donnez-moi un break.” The patronising put-down by British Prime Minister Boris Johnson, delivered in purposely poor franglais, was aimed squarely at a furious Emmanuel Macron after the September ...