Bloomberg IAG SA said it’s enjoying strong bookings into this year, led by holiday travel and stable business trips, and predicted a further recovery in 2023 as the aviation industry emerges from its worst-ever crisis sparked by the pandemic. Full year operating profit will reach about €1.8 billion to €2.3 billion, while net debt will remain broadly unchanged at …

  Bloomberg Thai Airways International Pcl’s fourth quarter profit almost tripled after Thailand eased pandemic-related border restrictions and tourists started to come back to the popular Southeast Asia holiday destination. The carrier’s net income for the three months ended on December 31 rose to 11.2 billion baht ($322 million) from 4 billion baht a year earlier, Chief Executive Officer Chai …

  Bloomberg Tesco Plc has joined discounter Aldi in limiting purchases of some fruit and vegetables in the UK after difficult harvests due to cold weather in southern Spain and North Africa. Both retailers are capping purchases of peppers, cucumbers and tomatoes to three units per person. The moves follow Morrisons which has a limit of two products and Asda …

  Bloomberg Singapore Airlines Ltd will scrap the city-state’s only nonstop flight to Vancouver from October, a little more than a year after the Asian carrier returned to Canada. The move is another example of how global hub airlines are having to readjust their networks after the pandemic in order to better match supply and demand. The sharp uptick in …

  Bloomberg Decisions to raise prices again are becoming “more difficult” as inflation wears on, Procter & Gamble Co Chief Financial Officer Andre Schulten said. The Tide maker is focused on offsetting higher costs with productivity savings to minimise the need for price increases. But it still sees a need to charge more to fund innovation that it believes will …

  Bloomberg A plan to turn carbon dioxide into limestone — and sell it at a profit — is getting some high-profile backing as BP Plc signs a deal with a San Antonio chemical company that aims to transform greenhouse gas emissions from a liability to a commodity. Under the arrangement, BP and CarbonFree Chemicals Holdings LLC will collaborate to …

  Bloomberg Europe’s industries and transportation systems waste so much heat that capturing the excess and reusing it could save consumers more than €67 billion ($71.3 billion), a Danish engineering company said. The surplus produced each year by factories, supermarkets, wastewater facilities, data centers and subways amounts to 2,860 terawatt-hours, nearly the same as the European Union’s total demand for …

  Bloomberg South Africa is experiencing an unprecedented level of power blackouts. Eskom Holdings SOC Ltd. cut 7,045 megawatts from the grid — a move to prevent a total shutdown of the national grid — spokesman Sikonathi Mantshantsha said in a Tweet. He confirmed that the intensity of power cuts increased to the so-called Stage 7 of loadshedding, as the …

Bloomberg European gas prices rose amid expectations of higher demand from power producers, after a recent slump improved the profitability of the fuel compared to coal. Benchmark futures have been fluctuating near €50 over the last few days after plunging about 35% since the start of the year. Together with surging carbon prices, that could rein in an increased reliance …

  Bloomberg Eni SpA posted a record annual profit due to high oil and gas prices, despite its fourth quarter missing estimates. The Italian energy giant followed its peers with stellar earnings for 2022, after Russia’s invasion of Ukraine sent the value of key commodities soaring. Eni’s fourth-quarter adjusted net income was €2.5 billion ($2.6 billion), missing the average analyst …