Nestlé, based in Switzerland, declared it is exiting an alliance comprised of the largest global food producers focused on decreasing methane emissions from dairy providers. According to a Nestlé spokesperson speaking to The Wall Street Journal, the decision was made after evaluating its membership in different organizations. "Nestlé routinely evaluates its affiliation with outside...

British firm Ineos has confirmed plans to shut down two manufacturing plants in Rheinberg, Germany, as a direct consequence of "damaging energy costs and carbon emissions" and the absence of tariff protections. According to the announcement, "the shutdown of these strategically vital facilities," which manufacture "essential chemicals," will affect 175 positions. The company's Allylics unit...

Berkshire Hathaway, the investment firm led by Warren Buffett, has reached an agreement to purchase Occidental Petroleum's petrochemical division for roughly $9.7 billion, as stated by the purchaser. The transaction will be settled in cash and is anticipated to finalize in the fourth quarter. This marks Berkshire's biggest purchase since its $11.6 billion acquisition of the insurer Alleghany in...

Chinese electric vehicle company XPeng has formally declared its expansion into five additional European markets as a segment of its global growth plan. According to Chinese media, these markets comprise Switzerland, Austria, Hungary, Slovenia, and Croatia. XPeng has established a formal collaboration with the European mobility services company Hedin Group to release the G6 and G9 models in...

Spanish energy group Repsol, in partnership with Enagas Renovable, has approved a project to build the first large-scale renewable hydrogen plant in Cartagena (Murcia region, Spain). Repsol declared that the hydrogen production electrolysis facility, using oxygen and water, will possess a capacity of 100 MW, generating as much as 15,000 tons of hydrogen and cutting carbon dioxide emissions by...

ExxonMobil's CEO Darren Woods has sought security assurances from Mozambique's President Daniel Chapo in Cabo Delgado, where terrorist groups have been present since 2017, regarding the plan to establish the continent's largest LNG terminal at a cost of $30 billion, according to the Financial Times. Exxon leads the Rovuma LNG initiative, supported by Italy's Eni and China's CNPC. The initiative...

YouTube (a subsidiary of Alphabet Inc.) will pay $24.5 million to resolve allegations from US President Donald Trump concerning the suspension of his account on the video platform after the Capitol riots in January 2021, according to CNBC. The agreement "includes no acceptance of liability or fault" by the defendant or any associated parties, as stated by the United States District Court for the...

The American investment firm KKR is acquiring 50% of French energy company TotalEnergies' North American solar business. Total stated that the agreement values the whole business at $1.25 billion, factoring in debt. The firm will obtain $950 million at the time of closing. The portfolio of assets contains six major solar power installations with an overall capacity of 1.3 GW, along with 41...

Chinese self-driving technology company Momenta is conducting a funding round that could reach a valuation of $6 billion, according to CNBC, which cites knowledgeable sources. One of the sources indicated that the valuation might fluctuate as the round moves forward. Momenta creates software and algorithms that car manufacturers can utilize to incorporate specific autonomous driving functions....