Regulator says South Africa’s Eskom can recover $2.25 billion over four years
South African energy regulator NERSA on Tuesday gave power utility Eskom the go-head to recover 32.69 billion rand ($2.25 billion) of costs incurred over the past three years through higher tariffs over a four-year period from 2019 to 2023.
U.S. stocks flat as Italy worries weigh
U.S. stocks treaded water on Tuesday, pressured by worries of a euro zone breakup after anti-euro comments from an Italian lawmaker.
September a ‘tale of two hurricanes’ for U.S. new car sales
Major automakers on Tuesday posted a hefty drop in U.S. new vehicle sales for September, caused in part by a drop in sales in areas hit by Florence and a tough comparison to the previous September when consumers rushed to replace vehicles damaged by Hu…
Shell’s LNG Canada seen as tip of megaproject iceberg
The launch of a massive liquefied natural gas (LNG) export project in Canada has finally fired the starting gun on a wave of plan approvals around the world, needed to avoid a supply crunch after 2020.
Citigroup plans to grow offshore booking center in UAE: executive
Citigroup plans to boost the United Arab Emirates’ role as an offshore booking center and is working towards a full banking license in Saudi Arabia, helping to propel its regional growth, a senior executive told Reuters.
Moody’s places GE ratings under review for possible downgrade
Credit ratings agency Moody’s Investor Service said on Tuesday it has placed ratings of General Electric Co and its finance unit under review for a possible downgrade, a day after the conglomerate replaced its chief executive officer and announced a $…
Senator Bernie Sanders applauds Amazon for wage hike
U.S. Democratic Senator and prominent Amazon critic Bernie Sanders praised the company’s move to increase minimum hourly wages to $15 on Tuesday and said other companies should follow its lead.
Euro weakens to six-week low; Italian concerns weigh
The euro fell to a six-week low on Tuesday after a senior lawmaker in one of Italy’s ruling parties said most of the country’s problems would be resolved if it readopted a national currency.
Tesla worried by China even as deliveries surge
Tesla Inc announced record quarterly car production numbers on Tuesday but warned it was facing major problems with selling cars in China due to new tariffs that will force it to accelerate investment in its factory in Shanghai.
Volkswagen terminates Audi CEO’s contract amid emissions probe
Volkswagen has terminated Audi CEO Rupert Stadler’s contract against the backdrop of a criminal investigation into whether he was involved in emissions cheating by the German group.
