Category: News

October 19 2017

Siemens Plans Thousands of Job Cuts Over Two Divisions

Written by Oliver Sachgau. This article first appeared in Bloomberg News.  Siemens AG is starting what could be its largest round of job cuts in at least two years and may close several sites as part of a reorganization plan, people familiar with the matter said. The retrenchments will fall in the German company’s power-and-gas […]

October 19 2017

Tesla and Vestas Partner in $160 Million Australian Project

Written by Jess Shankleman. This article first appeared in Bloomberg Markets. A novel $160 million renewable energy project combining wind, solar and storage technologies reached financial close. Tesla Inc. will supply batteries and Vestas Wind Systems A/S will supply turbines for the first phase of the Kennedy Energy Park, according to a Thursday statement on the […]

October 19 2017

World’s Biggest Oil Traders See Wildly Diverging Crude Price

Written by Grant Smith, Javier Blas and Manus Cranny. This article first appeared in Bloomberg Markets.  The world’s biggest oil traders say crude could rise above $60 a barrel in a year as demand grows and OPEC keeps cutting. Or it might fall to $45 as another wave of U.S. shale hits the market. The […]

October 19 2017

Caisse to Reduce High-Carbon Investments, Boost Renewables

Written by Frederic Tomesco and Sandrine Rastello. This article first appeared in Bloomberg News.  Caisse de Depot et Placement du Quebec, one of Canada’s largest pension funds, will scale back its high-carbon investments such as coal while boosting its renewable holdings in a bid to help fight climate change. Already among the world’s largest renewable […]

October 19 2017

Solar Wants to Help Fix a Power-Grid Problem It Helped Create

Written by Mark Chediak. This article first appeared in Bloomberg Technology.  Big solar farms helped create a power-grid predicament in California. And now they’re offering to help solve it. Solar panels have proliferated in the Golden State, flooding the grid with power supplies in the middle of the day when the sun’s out — and […]

October 19 2017

Forget Peak Demand, Norway’s Oil Chief Wants More Crude to Pump

Written by Mikael Holter. This article first appeared in Bloomberg News.  The renewable energy revolution doesn’t scare the man overseeing western Europe’s biggest crude oil spigot. The bigger and more immediate threat to Norway as an oil nation is the drought in large discoveries and projects, Petroleum and Energy Minister Terje Soviknes said in an […]

October 18 2017

Solar Finds Unexpected Champion in Sean Hannity

Written by Chris Martin. This article first appeared in Bloomberg Technology.  The U.S. solar industry has enlisted one of President Donald Trump’s best media friends for a campaign against import tariffs: Sean Hannity. Sean Hannity. Photographer: Andrew Harrer/Bloomberg Hannity voiced an advertisement asserting that tariffs on solar imports would threaten jobs in the U.S. The spot […]

October 18 2017

In Xi’s Vision for China, ‘Environment’ Edges Out ‘Economy’

This article first appeared in Bloomberg Technology.  Overwhelmed by the three-hours-plus vision statement served up by Xi Jinping today? A quick word search reveals a lot. Bloomberg Intelligence crunched the rhetoric in the Chinese-language version of the president’s speech to the 19th Communist Party congress. The results are emblematic of China’s bid to pivot away […]

October 18 2017

Oil’s Biggest Rigs Head to the Junkyard

Written by David Wethe. This article first appeared in Bloomberg Markets.  Transocean Ltd. is finally sending Pathfinder to its grave, after two years in a Caribbean purgatory that cost about $15,000 a day. The move by the world’s biggest offshore-rig operator signals just how bleak the future looks for deepwater drilling. Pathfinder is the most […]

October 18 2017

Saudi Oil Minister Says Full Aramco IPO Is on Track for 2018

Written by Javier Blas. This article first appeared in Bloomberg Markets.    Saudi Arabia is still aiming to complete both international and domestic portions of the initial public offering of its state oil company in 2018, Oil Minister Khalid Al-Falih said Tuesday. Asked whether both parts of the IPO will happen next year, Al-Falih said: […]