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Bloomberg French energy utility Engie SA faces a 120 million-euro ($139 million) tax bill after the European Union said it benefited from an unfair fiscal arrangement with Luxembourg. Concluding a state-aid probe into the tax affairs of Engie, the European Commission on Wednesday said Luxembourg selectively deviated from provisions of national law to help lower the tax bill for France’s ...

Bloomberg The biggest US shale region will have to shut wells within four months because there aren’t enough pipelines to get the oil to customers, the head of one of the industry’s largest producers said. The worsening bottleneck in the Permian region that straddles west Texas and New Mexico offers an unexpected fillip to OPEC and other oil producers outside ...

Bloomberg Copperbelt Energy Corp., the Zambian electricity supplier with customers including Glencore Plc’s copper mines, may invest as much as $250 million in solar projects and transmission lines in the neighboring Democratic Republic of Congo, Chief Executive Officer Owen Silavwe said. The amount includes two solar plants to generate 30 megawatts and 50 megawatts respectively, and the company is still ...

Bloomberg Kim Jong-un doesn’t appear to be in a rush to dump his nuclear weapons. In talks with Chinese President Xi Jinping this week, the North Korean leader reiterated his call for a gradual process to carry out the results of last week’s summit with US President Donald Trump. Chinese state media cited Kim as saying that denuclearisation would open ...

Bloomberg Gaza militants launched dozens of rockets and flaming kites into Israel’s south, drawing retaliatory Israeli strikes, in one of the fiercest confrontations between the sides since Palestinian protests along the border peaked in mid-May. Israeli aircraft targeted about 25 military sites belonging to Gaza’s ruling Hamas group, the army said, warning that the group was dragging Gaza along a ...

Bloomberg Ivory Coast authorities are planning an emergency response after at least 19 people died in floods and scores of others were evacuated from their homes. Heavy rains pounding the world’s biggest cocoa producer made roads impassable in Ivory Coast’s economic capital Abidjan on June 19, according to the agency that coordinates national rescue operations. President Alassane Ouattara shortened a ...

Bloomberg Prime Minister Theresa May faced down a rebellion from pro-European rebels in her party, keeping her Brexit strategy on track and bolstering her position. But the narrow result indicates more battles to come. Lawmakers voted 319-303 to reject an amendment to her flagship Brexit legislation that was supported by some rebels in her Conservative Party. It was intended to ...

Bloomberg German Chancellor Angela Merkel will meet with other European Union leaders for an emergency session on migration as the clock ticks for her to strike a deal to stem the flow of refugees or face mutiny within her governing coalition. Merkel will gather with counterparts from Italy, Spain, Greece, Malta, Bulgaria, Austria and France on Sunday to try and ...

Bloomberg Spanish PM Pedro Sanchez is already facing pushback from the multi-coloured alliance that put him into office less than three weeks ago. In his first question and answer session at the Parliament in Madrid, a left-wing group from the Valencia region complained that Sanchez is backing away from plans to reform the regional financing system and questioned whether it ...

Bloomberg US stocks were lifted by a rally in tech shares as concerns about a potential global trade war eased. Treasury yields edged higher and oil rallied. The S&P 500 was slightly higher after paring an early advance, while the Dow Jones Industrial Average slipped a seventh straight day. The Nasdaq Composite Index added to an all-time high, buoyed by ...