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Europe’s energy woes hit fertilizers in another threat to food

Hurricane Ida already sent prices for diammonium phosphate soaring.

Renault lays out plan to cut 2 000 French jobs in EV shift

Plans depend on reaching agreement with unions.

PBOC injects $14bn as Evergrande debt woes roil market

The most short-term cash since February.

Rewards From Fossil Fuel Junk Bonds Outweigh Reputational Risk

(Bloomberg) — Snapping up the high-yield bonds of oil companies is proving a lucrative ploy for investors willing to live with a mounting backlash against activities seen to hasten global warming. In June, Ithaca Energy Inc., which operates drilling rigs in the North Sea, paid a 9% coupon to sell junk bonds maturing in 2026, […]

Energy Crisis Worsens as Rally Hits Europe’s Industry Giants

(Bloomberg) — A supply crunch that sent European energy prices to records is squeezing profits for some of the continent’s industrial giants, threatening to derail the region’s economic recovery. Europe’s top chemicals firm BASF SE said it has been unable to fully swerve the impact of record-breaking electricity prices despite producing 80% of its own […]

Oil Set for Fourth Weekly Gain as Inventories Slump, Gas Rallies

(Bloomberg) — Oil headed for a fourth weekly gain, the best run since early July, supported by signs of a tighter market and positive pricing patterns. West Texas Intermediate, which was little changed on Friday, has climbed about 4% this week. The U.S. benchmark has advanced as crude and gasoline stockpiles in the country registered […]

North Korea’s Work at Uranium Plant Points to Missile Buildup

(Bloomberg) — North Korea is expanding a plant used to enrich uranium for nuclear bombs, two reports based on satellite imagery show, in another sign that Kim Jong Un is removing self-imposed constraints on his atomic weapons program put in place during talks with the U.S. The enrichment plant at the Yongbyon nuclear complex has […]

Biden to Convene Virtual Summit to Jump Start Climate Ambitions

(Bloomberg) — President Joe Biden will host a virtual discussion of climate change with world leaders Friday as he tries to accelerate efforts to slash greenhouse gases amid concerns that commitments are lagging before a pivotal United Nations summit. The leader-level summit is expected to be a sober assessment of global progress – or lack […]

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