Year: 2020

(Bloomberg) — Exxon Mobil Corp. has been planning to increase annual carbon-dioxide emissions by as much as the output of the entire nation of Greece, an analysis of internal documents reviewed by Bloomberg shows, setting one of the largest corporate emitters against international efforts to slow the pace of warming.The drive to expand both fossil-fuel production and planet-warming pollution comes at a time when some of Exxon’s rivals, such as BP Plc and Royal Dutch Shell Plc, are moving to curb oil and zero-out emissions. Exxon’s own assessment of its $210 billion investment strategy shows yearly emissions rising 17% by …read more […]

Indonesia’s government is in early discussions with electric vehicles maker Tesla Inc about a potential investment in the Southeast Asia country, a major producer of nickel, an official said. Indonesia is keen to develop a full supply chain for nickel at home, especially for extracting battery chemicals, making batteries and eventually building EVs. It has stopped exports of unprocessed nickel ore to support investment in its domestic industries. …read more […]

Indonesia’s government is in early discussions with electric vehicles maker Tesla Inc about a potential investment in the Southeast Asia country, a major producer of nickel, an official said. Indonesia is keen to develop a full supply chain for nickel at home, especially for extracting battery chemicals, making batteries and eventually building EVs. It has stopped exports of unprocessed nickel ore to support investment in its domestic industries. …read more […]

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Microsoft Corp. will invest in cloud services infrastructure in Greece, a boon to the country’s economy that has been weakened by a decade-long debt crisis and the coronavirus pandemic, senior executives of the technology giant said on Monday. “We are investing today in research and technology in Greece,” Microsoft President Brad Smith said. …read more […]

Oct.05 — Jon Stanton, chief executive officer at Weir Group Plc., discusses the significance of the sale of its oil and gas business to Catepillar. He speaks on “Bloomberg Markets: European Open.” …read more […]

Oct.05 — Germany’s DAX 30 benchmark is set for a make-over. Index operator Qontigo, a unit of Frankfurt-based Deutsche Boerse AG, has started a four-week market consultation to improve the gauge. Bloomberg’s Dani Burger reports on “Bloomberg Markets: European Open.” …read more […]

(Bloomberg) — Alibaba Group Holding Ltd. agreed to buy as much as a 9.99% stake in Dufry AG, giving the Swiss duty-free giant a lifeline as the pandemic hammers the business.Dufry said Monday it’s proposing a capital increase that will raise up to 700 million Swiss francs ($763 million), and Alibaba will participate. Advent International Corp., a private equity company, also plans to invest as much as 455 million francs. Dufry shares surged as much as 16%.The Swiss company said the proceeds from the share sale will help it buy out its Hudson Ltd. U.S. unit, as previously announced.The capital …read more […]

(Bloomberg) — Oil rose from a three-week low after a member of Donald Trump’s medical team said the U.S. President could leave the hospital as soon as Monday, despite contradictory accounts about his health status.Futures advanced 1.6% in New York after the biggest weekly drop since June amid a broader relief rally in Asian stocks. Trump’s condition remained clouded by confusion, with the president making a surprise outing from the medical center in a show of strength. Meanwhile, a strike in Norway is threatening to cut 8% of the nation’s output.Trump’s recovery have been the subject of intense speculation after …read more […]

The cinema chain is suspending operations in the UK and the US, putting thousands of jobs at risk. …read more […]

(Bloomberg) — Once one of Hong Kong’s steadiest stocks, HSBC Holdings Plc is now more than three times as volatile as the city’s benchmark. Investors are betting that will continue.Options traders in Hong Kong are pricing in a volatile October, snapping up both bullish calls and bearish puts on HSBC. The cost of one-month contracts tied to HSBC’s Hong Kong shares has climbed to near the highest since May 2009 relative to those on the city’s Hang Seng Index, according to data compiled by Bloomberg. That indicated high demand to protect against further volatility in the stock.More than 46,000 of …read more […]

Oct.05 — Melanie Sanders, partner at Bain & Company, discusses the outlook for retail spending in China amid the eight-day-long Golden Week holiday that began last Thursday, and how the coronavirus outbreak is affecting demand for online shopping in the region. She speaks with Yvonne Man and Haslinda Amin on “Bloomberg Markets: China.” …read more […]

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(Bloomberg) — Almost three-quarters of the pandemic-driven jobs losses in the U.S. petroleum and chemical sectors may not come back before the end of next year, according to Deloitte LLP.The collapse in oil demand and prices spurred the fastest rate of oil- and chemical-industry layoffs in history, with about 107,000 jobs eliminated between March and August, Deloitte said in a study scheduled to be released Monday. The number is probably even higher when furloughs and other headcount measures are taken into account, according to Duane Dickson, vice chairman and U.S. oil, gas and chemicals leader for Deloitte.Oil explorers, gas drillers, …read more […]

Spot gold was nearly flat at $1,896.21 per ounce by 0328 GMT. U.S. gold futures were down 0.3% at $1,902. “There’ll be reluctance to sell gold at this stage because of the increasing amount of uncertainty as we head towards the U.S. presidential election,” said Howie Lee, an economist at OCBC Bank. …read more […]