Business

Shipping, heating and cars targeted in EU carbon market revamp

The European Union wants to overhaul its carbon market to cut planet-warming emissions faster and put a price on pollution from shipping, road transport and heating systems in buildings. The bloc’s executive European Commission will next month propose the biggest revamp of its emissions trading system (ETS) since the policy launched in 2005. The ETS […]

Business

Orange to launch experimental 5G network amid telecom rush to the cloud

Orange (ORAN.PA) said on Wednesday it will launch an experimental 5G network using a cloud-based open platform and artificial intelligence in July, as the telecom industry rushes to shift services onto the cloud in a bid to cut costs and modernise. Orange will build the network in Lannion, northern France, in partnership with companies such […]

Business

Barclays to move investment bank staff into London HQ

Barclays (BARC.L) said on Wednesday it will move its investment bank staff in London into its nearby headquarters, consolidating office space in the Canary Wharf financial district. The British bank said it would vacate 5 North Colonnade, where the investment bank is based, by the end of 2022 and plans to renovate its towering 32-story […]

Business

United Airlines unveils huge jet order in push for growth

United Airlines (UAL.O) unveiled its largest-ever order for Boeing (BA.N) and Airbus (AIR.PA) jets on Tuesday, lining up 270 planes in a push for post-pandemic growth with bigger jets for domestic flying. The Boeing-dominated order for 200 Boeing 737 MAX and 70 Airbus A321neo jets, worth over $30 billion at list prices, will boost United’s […]

Business

Singapore’s sovereign fund invests $1 billion in Grifols’s U.S. unit

Singapore’s wealth fund GIC agreed to invest around 1 billion dollars in Biomat, a U.S.-based plasma collection company owned by Grifols (GRLS.MC), thus becoming a strategic investor in the Spanish pharmaceutical company, Grifols said on Wednesday. GIC will have a minority stake in Biomat USA, which has a network of 296 plasma collection centres in […]

Business

Energy trader Mercuria posts record profit for volatile 2020

Mercuria Energy Group had a boom year in 2020, buoyed by the extreme volatility seen in oil markets caused by the COVID-19 pandemic, as well as very strong returns across its portfolio, particularly gas and power. The Geneva-based firm had its best year ever in 2020, making $786 million, compared with $576 million in 2019. […]

Business

Britain’s Asda launches one-hour ‘Express Delivery’ service

Asda on Wednesday became the latest British supermarket group to launch an online service for delivery in an hour. The grocer, which trails market leader Tesco (TSCO.L) and Sainsbury’s (SBRY.L) in annual sales, said its new “Express Delivery” service will offer its full online range of over 30,000 products. The new rapid service has been […]