Global Commodity Financial News

Santos Ltd. is restructuring the company’s oil and gas business in order to cut costs, according to an internal notice seen by Bloomberg, after a string of stymied takeover bids in recent years that have raised pressure to increase shareholder returns.

Airlines around the world are grounding more planes to cope with the increases in jet-fuel prices. Global capacity for May has been reduced by about 3 percentage points, with all but one of the 20 largest airlines slashing flights, according to data compiled by analytics firm Cirium Ltd. Lufthansa is scrubbing 20,000 uneconomic short-haul flights from its European summer schedule to save on fuel. Earlier in the week, United Airlines slashed its full-year profit forecast due to higher fuel prices caused by war in the Middle East. Bloomberg's Benedikt Kammel breaks down the situation. (Source: Bloomberg)

Russia extended fertilizer export quotas until December as a global deficit deepens due to the Iran war and disruptions in the Strait of Hormuz, a key route for the seaborne trade in nutrients.

Ming Yang Smart Energy Group Ltd. is considering building a wind turbine factory in Spain after the UK blocked the Chinese company’s plans for a facility in Scotland, citing risks to national security.

The technology, media and telecommunications sector has been behind the world’s largest public M&A deals and could be on course to deliver a fresh record.

Microsoft Corp. must face a UK class action trial over allegations it abused its dominant position in the market to overcharge businesses that used the Windows Server operating system and Azure, an antitrust tribunal has ruled.

UK inflation accelerated in March, as a surge in energy costs triggered by the Iran war started to hit consumers in the pocket. The consumer prices index rose 3.3% from a year earlier, up from 3% the previous month, the Office for National Statistics said Wednesday. Santander Corporate and Investment Banking Economist Victoria Clarke reacts to the data on Bloomberg Television. (Source: Bloomberg)

A property developer is suing a former tenant for around £4.5 million ($6.1 million), arguing she reneged on the purchase of a seven-bedroom mansion just off one of London’s most sought after streets.

Transatlantic mergers and acquisitions are booming, as companies block out the rising levels of geopolitical noise to chase their dream deals.

The acclaimed author on the aftermath of the war in Iran.