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Bloomberg The Spanish government is exploring ways to persuade investors to finance a $116 billion transformation of its energy system as it tries to move beyond past policy mistakes that led to widespread losses and lawsuits. The Socialist administration is drawing up plans to expand renewable power generation, modernise its transport system and refit buildings to make them more energy ...

Bloomberg Hurricane Florence may make gasoline more expensive along the East Coast as drivers fuel up ahead of the storm, while missing key refinery and storage hubs. “Motorists can expect spikes in pump prices to be brief, but possibly dramatic,” Jeanette Casselano, a spokeswoman for AAA, said. “A storm like this typically causes an increase in fuel purchases in the ...

Bloomberg European oil majors are looking for more than just deepwater gushers in Brazil. They also plan to profit from the country’s abundant wind and sunshine. Royal Dutch Shell Plc, Total SA and Equinor ASA have all pledged in recent weeks to invest in Brazilian renewables. The push could more than double wind and solar’s share of Brazil’s energy mix ...

Bloomberg ArcelorMittal has raised its bid for indebted Essar Steel India Ltd. to about $5.8 billion, people with knowledge of the matter said. The world’s biggest steelmaker recently sent a letter to Essar Steel’s lenders informing them of its new proposal, the people said, asking not to be identified because the information is private. The company has offered to repay ...

Bloomberg Alibaba Group Holding Ltd. is setting up a $2 billion joint venture with billionaire Alisher Usmanov’s internet services firm Mail.ru Group Ltd. to strengthen the Chinese company’s foothold in Russian e-commerce. Asia’s most valuable company signed an accord with Mail.ru to merge their online marketplaces in the nation of more than 140 million people. The deal is backed by ...

Bloomberg A Chinese consortium including Hillhouse Capital is planning to drop its pursuit of a takeover of Yum China Holdings Inc., the $14 billion operator of KFC restaurants in the world’s most populous nation, people with knowledge of the matter said. The investor group, which also included KKR & Co. and China’s sovereign wealth fund, has decided not to continue ...

Bloomberg Singapore, one of the world’s easiest places to do business, is making it simpler for investment managers to register funds locally as the city-state goes after a bigger slice of the $69 trillion global asset-management industry. While many asset managers have offices in Singapore, most of their funds are still registered in offshore jurisdictions. A new corporate structure bill ...

Bloomberg Thailand expects to select a consortium by January to build a 225 billion baht ($6.9 billion) high-speed rail link connecting three international airports, one of the largest transport projects in its history. The agency overseeing the plan, the Eastern Economic Corridor Office, aims to make as much progress on the project as possible ahead of elections due from February ...

Bloomberg Chinese President Xi Jinping and his Russian counterpart Vladimir Putin pledged to bolster ties as Moscow stages its biggest military exercises since the height of the Cold War with Chinese participation. Both face pressure from the administration of US President Donald Trump. “We have a relationship of trust in the sphere of politics, security and defense,” Putin told Xi ...

Bloomberg German Chancellor Angela Merkel can’t seem to escape the political fallout from her open-borders refugee policy. Unresolved tension over migration in her government may come to a head again this week in a clash between the chancellor and her domestic intelligence chief, who defied Merkel by suggesting that a video of far-right unrest in eastern Germany that she described ...