Business

Norway’s Equinor-owned Aasgard B oil and gas platform shut after fire

Gas production at Norwegian energy firm Equinor’s (EQNR.OL) Aasgard B gas processing platform was shut on Sunday and could remain offline until Nov. 15 following a fire in a transformer, the company said on Monday. Output at the field has been cut by 19.8 million cubic metres, Aasgard’s pipeline operator Gassco said in a regulatory […]

Business

Saudi wealth fund, BlackRock to jointly explore Mideast infrastructure projects

Saudi Arabia’s sovereign wealth fund and BlackRock (BLK.N) have signed an agreement to jointly explore infrastructure projects in the Middle East, focused on Saudi Arabia. The Public Investment Fund (PIF), which manages more than $600 billion in assets, said their non-binding memorandum of understanding will serve as the anchor for BlackRock’s Middle East infrastructure strategy. […]

Business

Wall Street banks turn upbeat on emerging market debt

Wall Street banks are raising their outlook for emerging markets’ hard-currency bonds as a slowdown in U.S. rate hikes could provide some breathing space for the embattled asset class. Government bonds across developing economies have suffered negative returns of 20% (.JPMEGDR) this year against a backdrop of soaring inflation and aggressive rate hikes in what […]

Business

German antitrust watchdog widens Amazon probe under new regulation

Germany’s antitrust watchdog said on Monday it had expanded two probes into U.S. e-commerce giant Amazon.com (AMZN.O) making use of new regulation allowing it to prohibit any anti-competitive behaviour at an earlier stage. “We are examining in both proceedings whether and how Amazon impedes the business opportunities of sellers that are active on the Amazon […]

Business

Brazil’s Embraer to get $413 mln BNDES financing for aircraft production, exports

Brazilian planemaker Embraer SA (EMBR3.SA) said on Monday that the country’s state development bank BNDES has approved a 2.2 billion real ($413.15 million) credit line to finance the firm’s commercial aircraft production and exports. The move comes roughly a month after Embraer announced a $650 million revolving credit facility with a group of national and […]

Business

BP workers at Rotterdam refinery begin work slowdown

Workers at BP’s refinery in Rotterdam began a “work-to-rule” action after an ultimatum expired at noon with no new pay agreement in place, a union spokeman said on Monday. Jaap Bosma of the CNV union said the action, under which workers do no more than their contract exactly specifies and work is slowed, would be […]

Business

Binance pledges to create crypto industry recovery fund, calls for regulation

Binance chief executive Changpeng Zhao said the cryptocurrency exchange plans to launch a fund to help crypto projects facing a liquidity crisis as the collapse of rival FTX ricochets through the industry. The recovery fund will help “reduce further cascading negative effects of FTX,” Zhao said in a tweet on Monday, targeting projects that are […]