Bloomberg News

Business, Logistics

XPO’s Europe Unit Sale Said to Slow as Blackstone Drops Out

XPO Logistics tractors and trailers sit at a distribution point in San Francisco bay in July 2019. Andrei Stanescu/Getty Images

XPO Logistics Inc.’s sale of its European supply chain business has slowed after a key bidder dropped out of the process, people with knowledge of the matter said.

November 23, 2020
Government, Business, Technology, Fuel

China Pushes Ahead With Hydrogen, Defying Skeptics Like Elon Musk

An attendant fills a truck with compressed hydrogen at a filling station in Shanghai. An attendant fills a truck with compressed hydrogen at a filling station in Shanghai. (Qilai Shen/Bloomberg News)

China, the world’s biggest market for electric vehicles, isn’t so quick to dismiss the alternative to batteries. Officials are promoting the development of hydrogen-powered cars, trucks and buses, with Beijing offering to reward cities that achieve adoption targets.

November 20, 2020
Government, Business, Fuel, Logistics

China Oil Giant Eyes New Supertankers to Shrink Diesel Glut

A crew member reaches for a rope at the Grace 1 supertanker. Marcos Moreno/Associated Press

China’s biggest refiner is eyeing a creative strategy to help rid Asia of a persistent diesel glut — brand new supertankers usually reserved for crude oil.

November 12, 2020
Government, Business

White House Leaves Stimulus to Congress After Failed Talks

The White House stands in Washington on Nov. 11. Stefani Reynolds/Bloomberg News

The Trump administration is stepping back from negotiations on a new stimulus package and leaving it to Senate Majority Leader Mitch McConnell to revive long-stalled talks with House Speaker Nancy Pelosi, according to people familiar with the situation.

November 12, 2020
Government, Business, Logistics

Pfizer Vaccine Road Map Shows Logistical, Financial Obstacles

A Pfizer office in Puurs, Belgium, shows a hiring poster in a window on Nov. 10. A Pfizer office in Puurs, Belgium, shows a hiring poster in a window on Nov. 10. (Jean-Christophe Guillaume/Getty Images)

When Pfizer Inc. and BioNTech SE’s COVID-19 vaccine rolls off production lines, Shanghai Fosun Pharmaceutical Group Co. will be waiting to distribute it through a complex and costly system of deep-freeze airport warehouses, refrigerated vehicles and inoculation points across China.

November 12, 2020
Government, Business, Technology, Fuel

VW CEO Diess Says Existential Electric Race Awaits After Pandemic

VW CEO Herbert Diess said that when it comes to electric cars, "if you're not fast enough, you're not going to survive." VW CEO Herbert Diess said that when it comes to electric cars, "if you're not fast enough, you're not going to survive." (Krisztian Bocsi/Bloomberg News)

Volkswagen AG CEO Herbert Diess vowed to pursue a sweeping transition to electric cars, declaring it a matter of survival even as the coronavirus risks upending business in the near term.

November 5, 2020
Government, Business, Fuel

OPEC+ Inches Closer to Delaying Output Hike After Russian Talks

An oil pumping jack operates in a Russian oilfield. Andrey Rudakov/Bloomberg News

OPEC+ inched closer to delaying its January output increase, with Russia actively discussing keeping its current curbs for an extra three months as oil markets weaken.

November 2, 2020
Business, Fuel, Logistics

E-Commerce Boom Offers Lifeline for Oil

An Amazon Prime truck passes workers controlling traffic outside an Amazon fulfillment center. An Amazon Prime truck passes workers controlling traffic outside an Amazon fulfillment center in Staten Island, N.Y., on March 19. (Kathy Willens/Associated Press)

Look across the street from your home-office window: chances are you will see a delivery van.

October 28, 2020
Government, Business

Pelosi, Mnuchin Trade Blame as Stimulus Negotiations Stall

House Speaker Nancy Pelosi said the burden was on President Trump to push forward on stimulus negotiations. House Speaker Nancy Pelosi said the burden was on President Trump to push forward on stimulus negotiations. (Sarah Silbiger/Bloomberg News)

U.S. House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin Oct. 23 put the onus on each other to re-energize flagging stimulus talks as prospects for action on virus relief legislation before the election are fading fast.

October 23, 2020
Business, Safety

Tesla Is Recalling About 30,000 Imported Vehicles in China

Tesla vehicles are unloaded from car carriers before being shipped from the Port of San Francisco. Tesla vehicles are unloaded from car carriers before being shipped from the Port of San Francisco in February 2019. (David Paul Morris/Bloomberg News)

Tesla Inc. is recalling about 30,000 imported Model S and Model X vehicles in China because of suspension problems, a setback for the U.S. electric-car maker just as it faces intensifying competition in the world’s largest auto market.

October 23, 2020

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