January, 2023

• 31 January

  JD.com to shut Indonesia, Thailand shopping sites

  

  Bloomberg Chinese online retailer JD.com Inc. is closing its Indonesia and Thailand e-commerce sites as the company shifts its overseas strategy towards supply-chain and logistics services. JD.ID in Indonesia will stop accepting orders from mid-February and all services will be stopped by the end of March, while JD Central in Thailand will cease its operations from March 3, according to ...

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• 31 January

  Apple’s key supplier in India begins making AirPods parts

  

    Bloomberg A key Apple Inc supplier has begun making components for AirPods in India, marking a significant step in the US tech giant’s push to expand production in the country. The Indian unit of Jabil Inc. has begun shipping AirPods enclosures, or plastic bodies, to China and Vietnam, where the wireless earphones are assembled, people familiar with the matter ...

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• 31 January

  H&M drops as surging costs nearly wipe out earnings

  

    Bloomberg Hennes & Mauritz AB (H&M) shares fell after the Swedish clothing retailer said severe increases in energy, freight and garment prices nearly wiped out profit in the past quarter. Operating income dropped 87% to 821 billion kronor ($80 million) in the three months through November 2022, H&M said, far off analysts’ estimates. The scale of the decline is ...

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• 31 January

  Sabato De Sarno appointed new Gucci creative director

    Bloomberg Gucci named Sabato De Sarno as creative director at Kering SA’s biggest brand, filling a crucial role in the fashion world after the exit of star designer Alessandro Michele in late 2022. De Sarno will start his new role as soon as he completes all his obligations as fashion director for men and women’s ready-to-wear clothing at Valentino, ...

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• 31 January

  Boeing plans to hire 10,000 this year

    Bloomberg Boeing Co added nearly 15,000 employees in 2022 and plans to hire another 10,000 workers this year, reversing the steep headcount reductions it made earlier this decade to preserve cash while the Covid-19 pandemic and 737 Max grounding flattened jet sales. Boeing has said earlier that it handed over 69 jets in December — including 54 from its ...

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• 31 January

  Oil edges lower as commodities ease

  

    Bloomberg Oil fell again on Monday along with broader commodities markets, as China’s return from Lunar New Year holidays failed to deliver hoped-for gains. West Texas Intermediate slid near to $78 a barrel after topping $81 last week. Risk-off sentiment appeared to permeate markets as European equities and US equity futures dropped at the start of a week marked ...

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• 31 January

  Shell overhauls its business units after new CEO takes over

  

  Bloomberg Shell Plc’s new chief moved to overhaul the energy major’s core business units just a month after taking the helm. Shell will combine its integrated gas and upstream divisions, and merge its downstream and renewables units, it said on Monday. It’s the second significant announcement in a week after Chief Executive Officer Wael Sawan launched a strategic review of ...

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• 31 January

  Power crisis triggers water cuts in S Africa’s economic hub

  

  Bloomberg Parts of Johannesburg, South Africa’s economic hub, are being subjected to renewed water-supply cuts as ongoing electricity shortages disrupt pumping operations. A power failure at Rand Water’s Eikenhof pump station, which supplies reservoirs in several high-lying areas of Johannesburg, resulted in critically low levels of supply, the municipality said on Twitter on Monday. While repairs have been completed, it ...

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• 31 January

  Olaf Scholz seeks to end China’s lithium dominance in S America

  

  Bloomberg Chancellor Olaf Scholz is using a trip to Latin America to help Germany secure additional supplies of the lithium that car giants like Mercedes-Benz Group AG and Volkswagen AG need for their electric-vehicle batteries. Chile is the world’s second-largest supplier of lithium after Australia and much of its output is currently gobbled up by China. Scholz, who met with ...

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• 31 January

  Denmark plans extra $340 million inflation aid targeting seniors

    Bloomberg Denmark proposed to spend an extra 2.3 billion kroner ($340 million) on inflation aid, mainly targeting senior citizens. The government will now start talks with opposition parties in parliament to reach a broad deal and decide on the details, Finance Minister Nicolai Wammen told reporters in Copenhagen on Monday. Consumers in Denmark have been hit heavily by accelerating ...

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