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Bloomberg

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

Vedanta Resources bonds slide after downgrade deeper into junk

4th December 2020 Vedanta Resources dropped in the bond market after a credit rating cut deeper into junk territory by Moody’s Investors Service. The miner’s 2026 dollar note fell 4.8 cents on the dollar to about 58 cents, the biggest drop since October 12, Bloomberg-compiled prices show. Moody’s lowered its... 

OPEC+ meets to seek compromise on plan to delay output hike

4th December 2020 OPEC+ began two days of potentially complicated talks to hash out the size of its oil-production cuts next year, with the group’s president calling for caution in a fragile market. The coalition that pumps half the world’s crude is debating whether to maintain its output restrictions at current... 

Airbus bets on hydrogen to deliver zero-emission jets

4th December 2020 There are plenty of obstacles standing in the way of developing the first zero-emission, hydrogen-powered plane. It’s tricky to safely store and use the highly combustible fuel. There aren’t any airports equipped to refuel jets with it. And the cost of hydrogen itself is prohibitive, at least if... 

Trump sets Jan 6 auction of Arctic Refuge drilling rights

4th December 2020 The Trump administration announced it will sell oil drilling rights in the Arctic National Wildlife Refuge on January 6 -- an auction that would complicate President-elect Joe Biden’s vow to “permanently protect” the rugged reserve in northeast Alaska. A formal “notice of sale” is set to be... 

Land Bank creditor urges South Africa to speed up rescue efforts

3rd December 2020 South Africa’s National Treasury and the state-owned Land and Agricultural Development Bank are being accused of dragging their heels in negotiating a rescue package for the stricken lender, leaving creditors in the dark as debt repayments loom. Asset managers and other lenders are yet to receive... 

India court rejects temporary restart of Vedanta copper smelter

2nd December 2020 India’s top court has rejected Vedanta’s petition to restart for three months its shuttered copper smelter. The Supreme Court will review the plea to resume operations at the facility in the southern Tamil Nadu state in detail next year and decide if plant can be allowed to restart or shut... 

China coking coal surges as Covid throttles Mongolia border

2nd December 2020 Coking coal prices in China have soared to a four-year high after a new Covid-19 outbreak slowed border crossings from Mongolia. Trucks carrying coal across the border have fallen by about 80% since October amid efforts to control the virus as hundreds of new cases arise in Mongolia, according... 

Insurers might be shunning coal, but they still like fossil fuels

2nd December 2020 Even as more insurers across the globe back away from coal, many in the US continue to encourage fossil fuel pollution by underwriting the risk involved in oil and gas exploration and production. At least 65 insurers representing $12-trillion worth in assets have either begun divesting coal... 

Copper bonanza is emboldening unions in biggest-producing nation

2nd December 2020 Investors aren’t the only ones growing more bullish on copper. The confluence of factors turning producers into cash machines is also emboldening workers in Chile, raising the risk of stoppages in a hectic period of wage talks for the biggest copper-mining nation. An unusual combination of... 

Trump taps loan programme he tried to kill to help mineral mining

1st December 2020 The Trump administration is tapping an Energy Department clean-energy loan program it tried to kill to help uranium producers, as well as miners of other minerals deemed critical by the administration. The Energy Department announced Tuesday that it will issue guidance giving preference to... 

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