January, 2023

• 28 January

  Indonesia’s $20bn deal to cut coal not enough: Ember

  

  Bloomberg A landmark $20 billion deal to help fund Indonesia’s transition away from coal isn’t enough to put the country on track to meet global climate goals, according to energy think tank Ember. The Just Energy Transition Partnership (JETP) brokered last year between Indonesia, the US and Japan caps the archipelago’s power sector emissions at 290 million tons by 2030 ...

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• 28 January

  US natural gas falls below $3 for first time since May 2021

    Bloomberg US natural gas futures extended declines below $3 amid mild winter weather that’s helped spark the worst selloff among country’s commodities. Gas for February delivery traded as low as $2.857 per million British thermal units on the New York Mercantile Exchange. Prices are at lowest levels since May 2021 after dipping below $3. Doomsday fears that suppliers wouldn’t ...

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• 28 January

  UK grid warms back-up coal units for third time this week

  

  Bloomberg National Grid Plc again requested that coal-fired power units prepare for service to bolster the network’s spare capacity, then called off the notice as it has done previously. The grid asked three coal stations to warm in the early hours, before cancelling the request for Electricite de France SA’s unit at West Burton shortly after 5 am local time ...

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• 28 January

  Top African coal port lifts European sales

    Bloomberg South Africa’s Richards Bay Coal Terminal, the continent’s biggest export facility for the fuel, increased shipments to Europe last year to meet increasing demand even as the project struggled with infrastructure disruptions. Security issues, a wage strike and equipment shortages for state-owned rail operator Transnet SOC Ltd. cut coal deliveries from mines to the port, contributing to overall ...

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• 28 January

  South Africa’s blackouts threaten platinum mine supplies

  

  Bloomberg South Africa’s worst ever power blackouts are threatening platinum and palladium supplies in the top miner, both now and in the years ahead. Outages last year curbed output of the metals, and the power crisis that’s crimping the economy has worsened in recent months. The nation’s platinum-group metals production will likely fall this year, according to Impala Platinum Holdings ...

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• 28 January

  Intel tumbles after forecast suggests comeback is far off

  

    Bloomberg Intel Corp. gave one of the gloomiest quarterly forecasts in its history after a personal-computer slump ravaged the chipmaker’s business, sending shares tumbling and further setting back turnaround efforts. The company predicted a surprise loss in the current period and a sales range that missed analysts’ estimates by billions of dollars. At the low end of Intel’s projections, ...

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• 28 January

  Spain economy grows more than expected in boost for Sanchez

  

  Bloomberg Spain grew more than anticipated in the final quarter of last year, indicating the euro zone’s fourth-largest economy is on track to avoid a recession even as high inflation squeezes household spending. Output rose 0.2%, according to data from the INE statistics agency published on Friday. That matches the pace in the previous quarter and exceeds the 0.1% median ...

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• 28 January

  Hunt dismisses UK tax cuts and pushes against green subsidies

  

  Bloomberg Chancellor of the Exchequer Jeremy Hunt dismissed calls for tax cuts and pushed back against green energy subsidies, warning that “sound money must come first” as he argued that Brexit will drive UK economic growth. In an interview with Bloomberg TV, Hunt said: “At the moment, we don’t have the headroom for major cuts. Businesses want that, who wouldn’t? ...

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• 28 January

  Londoners are selling homes on WhatsApp

    Bloomberg A record share of Londoners are shunning property portals and opting to sell their homes on their own terms — which are increasingly negotiated over WhatsApp. Almost a quarter of London homes were sold off-market in the final three months of last year, according to broker Hamptons International. That’s more than double compared to the same period of ...

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• 28 January

  Britishvolt’s founder says UK battery sector is ‘doomed’

  

    Bloomberg The UK’s battery manufacturing industry is doomed unless the government ramps up support for the sector, according to the founder of failed battery startup Britshvolt Ltd. Formerly the UK’s main hope for a homegrown supplier to the electric-vehicle industry, Britishvolt went into bankruptcy this month. The company could have been saved had the government given it only a ...

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