Inside the super cool market made from shipping containers that is set to transform a Welsh town

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'It has given us some nice places to go to stop us travelling outside of town'

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    Russian energy giant Gazprom said Thursday it suffered a record annual loss last year as the European market was practically shut to its gas exports due to sanctions over Moscow's military operation in Ukraine.Exports to Europe have long been Gazprom's top earnings source, but following the start of the conflict in Ukraine European nations sought to reduce their reliance upon Russian natural gas.

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    Kremlin-owned natural gas giant Gazprom has plunged to its worst loss in at least 25 years in a blow to Vladimir Putin’s war economy.

  • EVs are getting smarter and cheaper in China

    STORY: Light-up emojis. Music for pedestrians outside. In China, electric carmakers are offering up luxury tech – without the luxury price tag – in the battle for buyers. Cars are being loaded with once-expensive interior features and technology for as low as $20,000 – less than half the cost of the average new car in the U.S. Analysts say that poses a big challenge for foreign heavyweights like Tesla and Volkswagen. This is the Nammi – on display here at the Beijing auto show. It’s made by state-owned automaker Dongfeng and sells for under $10,000. That’s around the same as BYD’s Seagull EV – China’s fourth best-selling electric vehicle. The market is also crowded with electric and plug-in vehicles that splash luxury technology. Xpeng is planning to offer an EV with high-level self-driving features – for under $21,000. Analysts say the price of specialized components like sensors needed for self-driving and screens for onboard entertainment has tumbled. That's making competition in the world’s largest auto market all the more fierce… And chipping away at the halo that once hung over foreign brands. That’s according to an outlook from McKinsey analysts released in March. Take Zeekr, for instance. It's the carmaker with those emojis. Here’s its Shanghai head of design, Javier-Garcia Gallardo: “When we see the differences between our product launch in China versus our product launch in Europe and, you know, the technical details are as important as the design and the brand. And this integration of technology is essential for the Chinese customer.” Still, German automakers say they’re not backing down. Here’s Mercedes-Benz CEO Ola Kallenius: “We have a dedicated digital tech team here all the way down to providing things like in the new E-Class, you can sing karaoke. Maybe you don't have that feature in Germany. Maybe you should. But here, customers love it.” Mercedes, as well as Volkswagen, both told Reuters they’re working to deliver those so-called “wow effects” for Chinese buyers.

  • What are the implications of taking your pension at 55?

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  • Real-Life Lessons for Thriving in the Energy Transition

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  • ‘The decisions you’re making are going to end with a smoking hole in the ground’: Inside the Boeing catastrophe

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  • India Top Refiner Resumes Trade on Russian Sovcomflot Ships

    (Bloomberg) -- Follow Bloomberg India on WhatsApp for exclusive content and analysis on what billionaires, businesses and markets are doing. Sign up here.Most Read from BloombergUS and Saudis Near Defense Pact Meant to Reshape Middle EastSaudi Arabia Steps Up Arrests Of Those Attacking Israel OnlineBiden Calls Ally Japan ‘Xenophobic’ Along With China, RussiaHuawei Secretly Backs US Research, Awarding Millions in PrizesTesla Axes Supercharger Team in Blow to Broader EV MarketIndian Oil Corp. resu

  • Guardian to cut journalists’ jobs as it slides back into heavy losses

    The Guardian has launched a redundancy programme as the newspaper grapples with a sharp slowdown in advertising.

  • The ‘father of the 401(k)’ talks about the death of pensions, the future of retirement, and what disturbs him most about his own creation

    Retirement legend Ted Benna says the savings model isn’t for everyone, but he would do it all over again.

  • JPMorgan says its Russia assets may be seized after lawsuits in Russia, US

    NEW YORK (Reuters) -JPMorgan Chase said in a filing on Wednesday that its assets in Russia may be seized after lawsuits in Russian and U.S. courts. The bank faces several legal challenges over its Russian dealings after the U.S. and European nations imposed economic sanctions on Russia in response to its invasion of Ukraine. The value of claims and orders to freeze assets exceeds JPMorgan's available assets in Russia, the largest U.S. lender said.

  • UPDATE 2-JPMorgan says its Russia assets may be seized after lawsuits in Russia, US

    JPMorgan Chase said in a filing on Wednesday that its assets in Russia may be seized after lawsuits in Russian and U.S. courts. The bank faces several legal challenges over its Russian dealings after the U.S. and European nations imposed economic sanctions on Russia in response to its invasion of Ukraine. The value of claims and orders to freeze assets exceeds JPMorgan's available assets in Russia, the largest U.S. lender said.

  • Buffett Devotees Head to Omaha for First Meeting Without Munger

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  • Reuben Owen's girlfriend Sarah shares plans for new career away from his business

    Sarah hinted she might not stay working at Reuben's heavy plant machinery business for too much longer

  • Black cab drivers claim Uber illegally obtained London licence in lawsuit

    Thousands of London taxi drivers have launched a £250m lawsuit against Uber, claiming the minicab app illegally obtained a licence to operate in London.

  • LIDL reveals list of locations for potential new stores - including Salisbury

    Lidl has revealed a list of locations for potential new stores in the South, which include Salisbury. The supermarket company has been trading for 30 years since opening its first GB store in 1994. Lidl, which provides high quality products and scored behind Aldi on the cheapest supermarket of 2023. The retail chain which sells a range of grocery items, meat, dairy and miscellaneous bargain deals has over 960 stores across the UK.

  • Oil Set for Biggest Weekly Drop Since February on Demand Worries

    (Bloomberg) -- Oil headed for its biggest weekly decline since February on signs of weakening demand, fueling speculation that OPEC+ will prolong output cuts to shore up prices.Most Read from BloombergSaudi Arabia Steps Up Arrests Of Those Attacking Israel OnlineTurkey Confirms All Trade Halt With Israel Over War in GazaHuawei Secretly Backs US Research, Awarding Millions in PrizesBiden Calls Ally Japan ‘Xenophobic’ Along With China, RussiaIn Jamie Dimon's America, the Stock Market Has Already V

  • Oil Swings as Traders Weigh Inventory Gain, Potential Cease-Fire

    (Bloomberg) -- Oil settled little changed after swinging in a narrow range throughout the session, with a buildup in US stockpiles and a potential cease-fire in the Middle East suppressing a rebound from yesterday’s sharp losses.Most Read from BloombergSaudi Arabia Steps Up Arrests Of Those Attacking Israel OnlineTurkey Confirms All Trade Halt With Israel Over War in GazaHuawei Secretly Backs US Research, Awarding Millions in PrizesBiden Calls Ally Japan ‘Xenophobic’ Along With China, RussiaIn J

  • Consolidated Edison beats first-quarter earnings estimates

    Electric and gas utility firm Consolidated Edison beat Wall Street estimates for first-quarter profit on Thursday, helped by higher electricity rates and lower operating expenses. On an adjusted basis, the New York-based company said it earned $2.15 per share in the January-March quarter, compared with analysts' estimate of $1.88 per share, according to LSEG data. Consolidated Edison provides electric and gas services to about 5.1 million customers through its subsidiaries, mainly in some boroughs of New York City - Manhattan, the Bronx, parts of Queens - and parts of adjoining Westchester County.

  • Decoding GE Vernova Inc (GEV): A Strategic SWOT Insight

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  • ConocoPhillips misses quarterly profit estimates on lower gas prices

    (Reuters) -U.S. oil producer ConocoPhillips missed Wall Street bets for first-quarter profit on Thursday, as lower natural gas prices and increased costs offset gains from higher oil production. A milder-than-expected winter hurt demand for the heating fuel in the quarter and pulled down U.S. natural gas prices to a three-and-a-half-year low in February, also affecting earnings of U.S. oil majors Exxon Mobil and Chevron. ConocoPhillips CEO Ryan Lance said energy prices have been volatile, but should not prevent the company from increasing cash distribution to shareholders.