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Bloomberg Carbon capture, the fossil-fuel industry’s favourite weapon against climate change, has never really caught on because of the cost. That may be about to change. The Internal Revenue Service (IRS) recently issued crucial guidance to help developers take advantage of tax credits for the systems, and supporters say it could usher in a new era for the controversial technology. “It’s ...

Bloomberg Despite environmental concerns, California will allow PG&E Corp to use diesel-powered mobile generators to keep some electricity flowing when the utility proactively cuts power to prevent live wires from sparking fires in high wind. State regulators signed off on PG&E’s plan to use about 450 megawatts of diesel generation to power homes, businesses, hospitals and other critical facilities as ...

Bloomberg Yet another Texas terminal is preparing to export oil, even as the pandemic continues to hammer global demand for US crude. Buckeye Partners LP expects to start loading ships with oil for export in the second half of July, after receiving crude at its South Texas Gateway terminal in the Port of Corpus Christi about a month earlier than ...

Secretary of State Mike Pompeo offered a telling explanation of why he fired Steve Linick last month as one of the inspectors general who are charged with keeping the federal government honest. “They work for the agency head — that’s me — and they are supposed to deliver and help make that organisation better,” Pompeo told reporters. “My mistake was ...

One of the talents of Tim Steiner, chief executive officer of Ocado Group Plc, is knowing how to negotiate from a position of strength. Over the past decade, the UK-based trailblazer for online grocery sales has been able to clinch contracts with British food retailers Wm Morrison Supermarkets Plc and Marks & Spencer Group Plc, offering digital capabilities just when ...

If Russia needed to be reminded of the costs of ignoring climate change and the transition to cleaner energy, 2020 has delivered. A devastating Arctic fuel spill appears to have been caused by melting permafrost. A heatwave has rekindled Siberian wildfires, which last year burned through 16 million hectares and choked cities. Oil, meanwhile, is still convalescing after sinking to ...

President Donald Trump doesn’t want you to pay attention to the polls, which on average show him losing badly to former Vice President Joe Biden in November — losing much worse than he was to Hillary Clinton at this point in 2016. But you don’t have to believe the public polls to see how poorly Trump’s re-election campaign is going. ...

Bloomberg State Bank of India is seeking to recover two guarantees furnished by the former billionaire Anil Ambani, which according to a news report are worth more than $158 million. The state-run lender filed an application with the National Company Law Tribunal to appoint a resolution professional, according to an update on the court’s website. The tycoon, who had offered ...

Bloomberg One Hong Kong businessman moved $10 million to Singapore and plans to transfer more. Another is eyeing London property, worried that prices in Hong Kong are too high. Well-to-do families across the city are opening offshore bank accounts and applying for alternative passports. While it doesn’t add up to an exodus just yet, Hong Kong’s rich are increasingly hedging ...

Bloomberg The southwest monsoon, which waters more than half of India’s farmland, was expected to cover the entire western Maharashtra state including Mumbai in the next 24 hours, potentially hurting efforts to fight the virus outbreak in the city that’s emerged as the epicenter of infections in the South Asian nation. Conditions are becoming favourable for the weather system to ...