TimeLine Layout

February, 2023

  • 25 February

    European gas reaches tipping point to price out coal in power

    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 ...

    Read More »
  • 25 February

    Eni reports record annual profit

      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 ...

    Read More »
  • 25 February

    Solar industry faces whiplash from volatile material prices

      Bloomberg Even as solar power grows into one of the world’s largest sources of new energy, the industry behind it is facing unprecedented volatility as a battle for profits intensifies. The roller-coaster ride is best seen through the lens of polysilicon, the key material in solar panels. Prices fell more than 40% over the course of a few weeks ...

    Read More »
  • 25 February

    UK needs to raise ‘green finance game’ or may fall behind EU, US

      Bloomberg The UK needs to advance its green finance agenda or risk falling behind as rivals pursue ambitious regulatory and subsidy programs, according to an expert panel advising the government. The nation’s Green Technical Advisory Group (GTAG) said the government should provide clarity to investors on what a green investment is through a so-called taxonomy. The UK’s rules should ...

    Read More »
  • 25 February

    DOJ seeks Google sanctions over deleted texts in antitrust suit

      Bloomberg Alphabet Inc’s Google urged employees to discuss sensitive topics via chats that would be automatically deleted after 24 hours and the company should face penalties for failing to preserve records needed for an antitrust suit, Justice Department lawyers told a federal court. Google assured the government’s lawyers that it was maintaining all records starting in November 2019, according ...

    Read More »
  • 25 February

    United Launch Alliance delays Vulcan debut flight

      Bloomberg Space-launch company United Launch Alliance (ULA) delayed the debut flight of its next-generation rocket, Vulcan, by at least a month to early May. Vulcan will be ready by mid-April but the mission’s main payload, a lunar lander built by Astrobotic Technology, can only launch within short, specific time windows each month, the company said in a press conference. ...

    Read More »
  • 25 February

    Beyond Meat stock jumps on lower costs, higher-than-expected sales

      Bloomberg Beyond Meat Inc surged in late trading after reporting fourth-quarter sales that exceeded expectations and the plant-based meat maker showed progress towards its goal of becoming profitable. Fourth-quarter revenue of $79.9 million was above the average estimate of $75.7 million compiled by Bloomberg. It surpassed expectations in US sales to retailers and restaurants, as well as in international ...

    Read More »
  • 25 February

    Ericsson to slash 8% of its workforce

      Bloomberg Ericsson AB, one of the world’s biggest providers of 5G networking equipment, plans to cut 8,500 staff worldwide to reduce expenses after the market for its telecommunications gear stopped growing. The bulk of the cuts at the Swedish maker of mobile networks will take place during the first half of the year, although some will be in 2024, ...

    Read More »
  • 25 February

    Domino’s pizza delivery woes drag down Papa John’s shares

      Bloomberg Domino’s Pizza Inc tumbled the most in more than a decade as delivery woes and softening demand caused fourth-quarter sales to fall short of Wall Street expectations and led management to cut targets for revenue growth. Shares of the pizza chain fell 12%, the steepest slide since 2010, while Papa John’s International Inc, which also reported soft North ...

    Read More »
  • 24 February

    China’s ceasefire proposal for Ukraine falls flat with US, allies

    Bloomberg China called for a ceasefire between Russia and Ukraine in a position paper on ending the war that offered some reprieve to Moscow but was quickly dismissed by Kyiv’s allies as the conflict enters its second year. Several of the 12 points outlined by China in the document would, if carried out, offer clear benefits to Russian President Vladimir ...

    Read More »
Send this to a friend