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Russia is struggling to boost its oil production, even as its allowance under the latest Opec+ agreement is rising. At least that’s what the current data show. If it’s true, we ought to be worried. The country is the largest of the allies that joined with the Organization of Petroleum Exporting Countries last year to agree to a record cut ...

Bloomberg HNA Group secured strategic investors for its airline and airport businesses, a key step in the once high-flying Chinese conglomerate’s state-run reorganisation and bid to move beyond its debt woes. The administrators of HNA’s restructuring program have decided to bring in Liaoning Fangda Group Industrial Co as strategic investor for the airline business and Hainan Development Holdings Co for ...

Bloomberg Sydney Airport relented to suitors after extracting a sweetened A$23.6 billion ($17.4 billion) takeover offer that underscores the battered travel industry’s appeal to long-term investors. The airport said on Monday it will to open its books to bidders led by IFM Investors after they increased their indicative offer 3.6% to A$8.75 a share. Sydney Airport said it plans to ...

Bloomberg Breeze Aviation Group Inc has ordered 20 additional Airbus SE A220-300 aircraft, bolstering the fleet of its startup airline and enabling longer domestic and short-haul international routes. The new planes, adding to a prior 60-jet order, mean the low-cost Breeze Airways will receive one A220 a month for the next six and a half years, the company said in ...

Bloomberg Airlines are piling on more debt as surging coronavirus cases force travellers to cancel plans and stay home. The industry’s outstanding debt has jumped 23% since 2020 to $340 billion, according to data compiled by Bloomberg. So far this year, global air carriers have sold $63 billion in bonds and loans. It’s more evidence that the industry faces a ...

Bloomberg Customers at some Tesco Plc supermarkets will now be able to purchase products from brands like Coca-Cola and Heinz in reusable packaging to reduce plastic waste. In partnership with Loop, a reusable packaging platform launched by New Jersey-based recycling specialist TerraCycle Inc, Tesco was expected to roll out a trial in 10 supermarkets across the east of England from ...

Bloomberg Russia is mobilising as many as 200,000 troops in wargames with Belarus, including thousands along their borders with the North Atlantic Treaty Organisation (Nato), as Moscow tightens military links with its isolated ally. Citing what he called “unending hybrid aggression from the West towards Belarus and Russia,” Belarusian President Alexander Lukashenko told troops at the Zapad-2021 wargames that “we ...

Bloomberg China urged the US to take steps to repair damaged ties between the two countries, as the Biden administration weighs a new investigation into Chinese industrial subsidies. Foreign Ministry spokesman Zhao Lijian called on the US to uphold the spirit of the telephone conversation last week between President Joe Biden and Xi Jinping. Zhao was responding to a question ...

Bloomberg The global shipping industry is getting its biggest payday since 2008 as the combination of booming demand for goods and a global supply chain that’s collapsing under the weight of Covid-19 drives freight prices ever higher. Whether it’s giant container ships stacked high with of 40-foot steel boxes, bulk carriers whose cavernous holds house thousands of tons of coal, ...

Bloomberg Two of the leading investors at Italy’s Assicurazioni Generali SpA are escalating their battle with the insurer’s management in a push that could include replacing Chief Executive Officer Philippe Donnet. Construction magnate Francesco Gaetano Caltagirone and Luxottica founder Leonardo Del Vecchio, who together own about 11% of Generali, reached an agreement to work toward “a more profitable and effective ...