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Bloomberg delivers business and markets news, data, analysis, and video to the world, featuring stories from Businessweek and Bloomberg News.

The UAE warns US shale companies against pumping more oil

13th January 2021 Any attempt by US shale and other oil producers to boost output this year will backfire and lead to lower prices, according to the energy minister of the United Arab Emirates. Oil prices have surged in the past two months with the development of coronavirus vaccines. They jumped again last week... 

EU food watchdog approves bugs for human consumption

13th January 2021 Insects just moved a step closer to European dinner plates. Dried yellow mealworm, the larval form of the mealworm beetle, is safe for human consumption in both its whole form and as a powder additive, the European Union’s food watchdog said Wednesday. 

South African stocks resume climb as Anglo leads miners higher

13th January 2021 South Africa’s main stock index gained 0.5% as of 9:49 a.m. in Johannesburg, heading for a fresh record close, as mining stocks benefited from optimism over US stimulus spending that could spur an economic rebound and boost demand for metals. The FTSE/JSE Africa All Share Index resumed its... 

Total, Engie seek aid for France’s biggest green hydrogen plant

13th January 2021 Total and Engie plan to build France’s largest green hydrogen facility to feed the oil company’s biodiesel plant in the south of the country from 2024, provided they get subsidies to make the project viable. Steelmakers and gasoline and biofuel producers currently make the hydrogen they need from... 

Einhorn doubles stake in Consol after coal miner slumped 50%

13th January 2021 Activist investor David Einhorn has doubled his stake in Consol Energy after the coal miner slumped 50% last year. Einhorn’s hedge fund Greenlight Capital and other entities connected to him disclosed a 29% stake in Consol, according to a filing Tuesday. That’s up from 11.8%, making them the... 

Lithium miner’s German smelter plan draws billionaires

12th January 2021 Rock Tech Lithium plans to raise $400-million to build a lithium refinery in Germany and has attracted support from billionaires including Peter Thiel investing in Europe’s push to create a local electric-vehicle battery industry. The Canadian miner is in advanced talks with investors and sees... 

BHP invests in startup seeking to make emissions-free steel

12th January 2021 BHP Group, the world’s biggest mining company, has invested in a startup company seeking to develop less-polluting ways of making steel. While many in the mining industry have outlined how they plan to curb their own direct pollution, those emissions are a fraction of ones produced by customers,... 

Almost half of South Africa’s oil refining seen shut until 2022

11th January 2021 South African plants owned by Glencore and Petroliam Nasional that make up 43% of the nation’s oil-refining capacity are expected to stay shut until at least 2022, according to energy consultant Citac. Astron Energy, a unit of Glencore, has yet to restart the 100 000 bl.d Cape Town refinery after... 

Gold extends biggest loss in two months on rising dollar, yields

11th January 2021 Gold fell to extend the biggest drop in two months amid gains in the dollar, Treasury yields, and equities, with investors weighing President-elect Joe Biden’s pledge to detail plans for huge US economic aid. Bullion endured a switchback week as January got under way, with early gains getting... 

Globe-trotters pledge to fly less after Covid to help climate

11th January 2021 More than two-fifths of the global population would be willing to fly less even after pandemic restrictions ease, according to a survey that shows a growing belief that individual actions impact the climate. The poll of more than 30 000 people published Monday by the European Investment Bank... 

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