February, 2023

• 10 February

  Mitsubishi Heavy pulls plug on long-troubled SpaceJet project

  

  Bloomberg Mitsubishi Heavy Industries Ltd. finally ended the development of its SpaceJet aircraft — a domestic short-haul jet that was to supply local carriers including ANA Holdings Inc. — after spending hundreds of millions of dollars on the project. Tokyo-based Mitsubishi Heavy lacked the understanding and technological know-how for SpaceJet to materialise, Chief Executive Officer Seiji Izumisawa said at a ...

  Read More »
• 10 February

  Planes’ near misses on runways need ‘urgent attention’: Lawmakers

  

    Bloomberg Recent plane near-collisions on runways have raised red flags among lawmakers crafting a major US aviation policy bill. The National Transportation Safety Board (NTSB) is investigating two near-misses in recent weeks on runways at airports in New York and Texas. Lawmakers weighed how to respond at the House Transportation and Infrastructure Committee’s first hearing of the year to ...

  Read More »
• 10 February

  Under Armour shares slip after surprise profit decline warning

  

  Bloomberg Under Armour Inc shares slipped after executives said discounting will continue for a prolonged period as the athletic brand works through excess merchandise. Inventory buildup has weighed down the sports-apparel industry due to unpredictable demand and long freight times. That’s led to heavy promotional activity to get goods off store shelves. Under Armour’s inventory rose 50% to $1.22 billion ...

  Read More »
• 10 February

  Maersk sees global trade contracting 2.5% in 2023

  

  Bloomberg A.P. Moller-Maersk A/S, a bellwether for global trade, said “muted” economic growth is set to push the world’s container shipping volumes down by as much as 2.5% this year. The shipping market has normalized after two years of exceptionally high freight rates, when supply snarls and and a shortage of vessels allowed Maersk and its peers to charge higher ...

  Read More »
• 10 February

  Elon Musk prepares Tesla ‘master plan’ for March 1 investor day

  

  Bloomberg Tesla Inc. will present a third version of Elon Musk’s “master plan” next month, almost a full year after the chief executive officer said he was working on a next edition. The electric-car maker will outline “the path to a fully sustainable energy future for Earth” during its March 1 investor day, Musk tweeted. Tesla has already said its ...

  Read More »
• 10 February

  UK inflation-adjusted pay lags France and Germany, OECD says

  

    Bloomberg The UK was the only European country in the Group of Seven nations where real incomes adjusted for inflation fell in the third quarter of last year, according to the OECD. Rampant inflation was to blame for continuing slide in household spending power, the Paris-based organization said, piling pressure on Prime Minister Rishi Sunak’s government and the Bank ...

  Read More »
• 10 February

  Dublin offices just 10% occupied on Fridays

    Bloomberg Average occupancy levels at many Dublin offices have fallen to 10% or lower on Mondays and Fridays as the majority of employees opt to work from home, according to a survey. Wednesday is the most popular day among workers to be in the office with employers reporting average occupancy rates of 61% to 70%, a survey of 500 ...

  Read More »
• 10 February

  Polestar and Rivian say EVs aren’t enough to hit climate goals

  

    Bloomberg Electric vehicle startups Polestar Automative Holding and Rivian Automotive Inc. are known for doggedly tracking their individual corporate emissions, detailing the environmental toll of everything from the lights in their factories to the rubber in their cars’ tires. On Wednesday, the EV rivals paired up with consulting giant Kearney to raise a flag on the industry more broadly: ...

  Read More »
• 10 February

  US allies Japan, Philippines boost ties

  

  Bloomberg Philippine President Ferdinand Marcos Jr. and Japanese Prime Minister Fumio Kishida oversaw agreements bolstering military and infrastructure ties between the two US allies amid China’s growing power in the region. During the first visit by Marcos to Tokyo since taking office, the two governments signed seven deals, including one aimed at making easier for Japan’s Self-Defense Forces to take ...

  Read More »
• 10 February

  Biden denies US-China ties more strained after balloon spat

  

  Bloomberg President Joe Biden denied that relations with Beijing have suffered a serious blow after the US downed an alleged Chinese spy balloon that flew across the continental US. Biden said that the US is currently recovering “major pieces” of the aircraft to analyze the equipment. But he maintained that the incident hasn’t further exacerbated tensions with the country. “No. ...

  Read More »