U.S. oil refiner Phillips 66 (PSX.N) on Friday said it will raise spending on new projects next year by about 6%, putting more into renewable fuels and pipeline businesses. Total…
Category: Business

Big Oil does little to act on climate despite vows U.S. House panel
Major energy companies are not doing enough to prevent the worst effects of climate change despite public promises to fight the problem, a U.S. House panel said about documents released…

Gasoline queues return in Venezuela as refineries fail to produce
Long lines for motorists at Venezuela's refueling stations are back due to repeated outages at state oil company PDVSA's refineries and a lack of diesel and gasoline imports. In 2020…

Ericsson and Apple end patent-related legal row with licence deal
Ericsson (ERICb.ST) said on Friday it had struck a global patent licence agreement with Apple (AAPL.O), ending a row over royalty payments for the use of 5G wireless patents in…

Norway’s Reitan Retail buys 114 Danish stores from Germany’s Aldi
Norway's Reitan Retail said on Friday it had agreed to buy 114 Danish grocery stores and three distribution centres from German rival Aldi for an undisclosed amount, boosting the Norwegian…

Warner Bros TV channel executives leave amid restructuring
Two of Warner Bros. Discovery (WBD.O) executives leading TV channels left the company as part of ongoing restructuring at the media giant, according to an internal memo. Nancy Daniels, who…

Turquoise Hill shareholders approve Rio Tinto’s $3.3 billion buyout bid
Shareholders of Canada's Turquoise Hill (TRQ.TO) on Friday voted in favour of Rio Tinto's (RIO.L), (RIO.AX) $3.3 billion bid to take it private and gain direct control over a giant…