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Aramco Said to Review Upstream Assets for Potential Stake Sales

(Bloomberg) — Saudi Aramco is conducting a strategic review of its upstream business, in a move that could potentially see the state-owned firm bring in external investors to some of its oil and gas assets, people with knowledge of the matter said. The world’s biggest energy company is in preliminary discussions with advisers to evaluate […]

No Major New Pledges From China Or India: Climate Update

(Bloomberg) — President Joe Biden’s climate summit has drawn 40 heads of state including China’s Xi Jinping, Vladimir Putin of Russia and Boris Johnson from the U.K. The two-day virtual event kicks off Thursday and will also include corporate executives, union heads, Pope Francis and Bill Gates. The stakes are high. While Biden is seeking […]

EU Keeps Global Vaccine Supply Alive Amid Uneven Home Rollout

(Bloomberg) — The European Union’s vaccine production capacity has been keeping the global rollout of shots going, while it deals with an uneven campaign at home that’s casting doubt over the timing of reopening in some member states. The EU authorized the export of 136.1 million doses to 43 countries between Jan. 31 and April […]

Biden Pushes Carbon Plan to World Burned by Trump, Leery of Risk

(Bloomberg) — President Joe Biden will pledge to cut U.S. greenhouse gas emissions in half by 2030 as he convenes 40 world leaders in a virtual summit intended to demonstrate renewed American resolve to fight climate change and pressure wary nations to raise their own ambitions. Biden will announce in the two-day summit that begins […]

First Mideast Bitcoin ETF Aims to Raise More Than $200 Million

By Manus Cranny and Abeer Abu Omar (Bloomberg) — Canada’s largest digital-asset investment fund manager 3iQ Corp. is hoping to raise more than $200 million by listing its Bitcoin exchange-traded fund in Dubai, according to its chief executive officer. The intent of listing on the Nasdaq Dubai exchange is to get trading at all hours […]

Draghi Shuns Chinese Cash With European Recovery Funds Coming

(Bloomberg) — With about 200 billion euros ($240 billion) of European recovery funds set to pour into Italy, Prime Minister Mario Draghi has redoubled efforts to shield local companies from foreign takeovers, particularly from China. The strategy saw Italian and French ministers coordinate to scuttle the sale of the Turin, Italy-based Iveco SpA truck and […]

Another Libyan Oil Firm to Cut Production as Funding Row Worsens

By Salma El Wardany (Bloomberg) — One of Libya’s state oil producers said it would have to cut as much as 100,000 barrels a day of output this week, a further sign that a budgetary crisis is threatening the OPEC member’s energy industry. Sirte Oil Co. will be forced to “reduce production and halt it […]

WPP Rallies $60 Billion in Client Spending to Hit Net Zero Goal

(Bloomberg) — Advertising giant WPP Plc pledged to cut greenhouse gas emissions across its supply chain to net zero by 2030 in an industry-leading push that will mobilize billions of dollars in media spending. The London-based firm said its emissions were estimated at 5.4 million tons of carbon-dioxide equivalent in 2019 — comparable to the […]

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