January, 2023

• 21 January

  Richemont, Burberry see China sales rebound, sparking optimism

  

    Bloomberg Richemont and Burberry Group Plc said consumer spending in China is already rebounding after three years of pandemic lockdowns and a virus surge that cost the luxury-goods makers almost a quarter of their sales there last quarter. Burberry Chief Financial Officer Julie Brown pointed to “very promising signs in January” in the key luxury market. A Richemont spokeswoman ...

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• 21 January

  Qantas suffers third midair mechanical issue in 3 days

    Bloomberg A Qantas Airways Ltd. flight to Sydney returned to Melbourne with potential engine trouble, the airline’s third consecutive day of mid-air mechanical issues following a mayday alert by a plane en route from Auckland. The pilots of flight QF430 on Friday received an indication of a minor engine problem and turned back to Melbourne as a precaution, Qantas ...

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• 21 January

  Starbucks leadership exodus continues

    Bloomberg A marketing vice president at Starbucks Corp. is leaving the company, continuing an exodus of executives since Howard Schultz returned to the helm. Jen Quotson, vice president of creative studios at Starbucks, is departing the coffee chain after 14 years. She spent more than eight years in her most recent role, according to her LinkedIn profile. A company ...

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• 21 January

  Shell expects rapid growth in carbon credit markets by 2030

  

    Bloomberg The value of the voluntary carbon market that allows polluters to buy credits to offset emissions is set to grow fivefold by 2030, after expanding at a record pace over the past two years, according to Shell Plc. The global voluntary market is expected to increase from an estimated value of $2 billion in 2021, Shell said in ...

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• 21 January

  BHP reports record iron ore production

  

    Bloomberg BHP Group Ltd., the world’s biggest miner, reported record iron ore production for its fiscal first half, predicting China would drive commodity demand in 2023 as the country opens up. The Melbourne-based miner produced 132 million tons of the steelmaking material in the six months to December 31, 2022. The record was achieved through a strong supply-chain performance, ...

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• 21 January

  UK wind farm developers start paying $1 billion fees for seabed

  

    Bloomberg Companies hoping to build wind farms off the coast of the UK have started to pay the more than $1 billion in annual fees for access to sections of empty sea, starting a race to build the projects as quickly as possible and generate clean electricity. The Crown Estate, which manages the seabed around England and Wales, signed ...

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• 21 January

  European natural gas prices drop

    Bloomberg European natural gas prices declined as ample inventories and tanker-borne fuel help offset lower supplies from Russia. Benchmark futures fell as much 5.6% after gaining as much as 6.3%. Russian flows via Ukraine slumped further while cold weather swept across the continent, boosting demand for the fuel used in heating and accelerating withdrawals from storage sites. The region ...

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• 21 January

  Wind industry’s success has become its biggest threat

  

    Bloomberg The head of one of the world’s biggest developers of renewable energy, Denmark’s Orsted A/S, worries that the energy transition could see a slowdown as rising competition and interest rates squeeze returns and upend the case for investment. Orsted is the world’s largest developer of offshore wind farms, which it helped pioneer from a niche technology into one ...

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• 21 January

  US poised for Dutch, Japanese help on China chip crackdown

  

  Bloomberg The Netherlands and Japan, home to key suppliers of semiconductor manufacturing equipment, are close to joining a Biden administration-led effort to restrict exports of the technology to China and hobble its push into the chips industry. The Dutch and Japanese export controls may be agreed to and finalized as soon as the end of January, according to people familiar ...

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• 21 January

  Brits are renting out spare rooms to beat cost of living crisis

    Bloomberg The number of people searching for lodgers to stay in their spare rooms has spiked, as living costs in Britain remain stubbornly high. Homeowners advertising empty bedrooms for rent on the website SpareRoom spiked in January, hitting the highest levels since the summer of 2020 when pent-up demand was unleashed by loosening Covid restrictions. The company said that ...

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