February, 2023

• 18 February

  Protesters target Boohoo at UK event

    Bloomberg Boohoo Group Plc was confronted by protesters angry at its record over workers’ rights when the fast fashion chain attempted to discuss ethical clothing at an event in London. Senior representatives of the British online retailer were speaking at Source Fashion, a conference connecting suppliers with retail buyers. Boohoo has previously faced accusations of low wages and poor ...

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• 18 February

  Uniper says it will overcome Russian gas issues by 2024

  

    Bloomberg Germany utility Uniper SE said it will overcome the problems generated by Russian gas cuts by 2024 at the latest. The company — which was rescued by the German government last year after the energy crisis put it on the brink of collapse — said it may continue to face high gas replacement costs in the next years, ...

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• 18 February

  Fossil-fuel subsidies hit record $1tr in 2022: IEA

  

  Bloomberg Even as global governments raise their ambitions to cut fossil fuels in the future, they spent a record $1 trillion last year subsidising energy sources that are the main driver of climate change. That’s the finding from the International Energy Agency (IEA), which estimates that the combined subsidies for oil, natural gas, electricity and coal hit an all-time high ...

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• 18 February

  India’s Gail explores buying stake in US LNG export plant

    Bloomberg Gail India Ltd. is looking to buy a stake in a US liquefied natural gas (LNG) export facility amid a wider global effort to secure supply to meet rising fuel demand. The company released an expression of interest to acquire as much as 26% equity in an existing LNG plant or a proposed facility that will be commissioned ...

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• 18 February

  World’s largest man-made dam weighs using floating solar panels

  

    Bloomberg The authorities in charge of the world’s largest man-made lake are considering using floating solar panels to generate power after plummeting water levels deepened power outages in Zambia and Zimbabwe. Adding photovoltaic capacity to the surface of the Kariba Dam the water would supplement more than 2,100 megawatts of hydropower capacity, Munyaradzi Munodawafa, chief executive officer of the ...

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• 18 February

  Adani Power scraps coal plant purchase

    Bloomberg Adani Power Ltd. has called off its plan to acquire a coal plant project in central India, as billionaire Gautam Adani looks to rein in spending and rebuild investor confidence in the wake of a bruising short seller report. The Adani Group company and DB Power Ltd. mutually agreed not to proceed with the transaction after a long-stop ...

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• 18 February

  France’s need to burn gas pushes power emissions to 5-year high

  

  Bloomberg France’s greenhouse gas emissions from its power sector jumped to a five-year high in 2022 as nuclear outages forced it to use more gas to keep the lights during the energy crisis. Emissions from generating electricity rose 16% to 25 million tons of carbon dioxide equivalent, grid operator Reseau de Transport d’Electricite said in a report. The increase shows ...

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• 18 February

  The extraordinary exit of women of Silicon Valley!

  

    Bloomberg The resignation of YouTube chief Susan Wojcicki after 25 years at Google is another example of an unsettling trend in Silicon Valley: High profile women are heading for the exits. Just this week, Meta Platforms Inc Chief Business Officer Marne Levine stepped down after 12 years at the social media juggernaut. Last year, Sheryl Sandberg left her role ...

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• 18 February

  Elon Musk shuts 2 of 3 Twitter India offices

  

  Bloomberg Twitter Inc has shut two of its three India offices and told its staff to work from home, underscoring Elon Musk’s mission to slash costs and get the struggling social media service in the black. Twitter, which fired more than 90% of its roughly 200-plus staff in India late last year, closed its offices in the political centre New ...

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• 18 February

  Mercedes cars become ‘elusive’ after price jump

    Bloomberg Driving a shiny new Mercedes-Benz may soon become a distant dream for many but the most affluent. The average price of a Mercedes reached some$76,590 last year — a 43% increase over 2019 levels. That chimes with the carmaker’s push even further upmarket by focusing on top-end models like the S-Class sedan to bolster profits. The company has ...

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