January, 2023

• 30 January

  Ethiopian Max crash report made false claims on 737: US

  

    Bloomberg Ethiopian investigators’ report into the Boeing Co. 737 Max crash outside Addis Ababa in 2019 falsely claimed the jetliner had an electrical failure, the US government said, in a highly unusual public rebuttal of the nation’s findings about the fatal accident. The US National Transportation Safety Board (NTSB) accused the Ethiopian Accident Investigation Bureau (EAIB) of making claims ...

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• 30 January

  Amazon to charge fees on US grocery orders

  

    Bloomberg Amazon.com Inc will start charging fees to online shoppers for grocery orders of less than $150, underscoring the challenging economics of getting food to shoppers’ doorsteps. The new fees coincide with the company’s efforts to cut costs and adjust to slower growth in online shopping. Charges for the Amazon Fresh grocery delivery service in the US will be ...

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• 30 January

  Silicon Valley business travel dried up, says Alaska Air CEO

  

    Bloomberg The head of Alaska Airlines says Silicon Valley technology companies have “turned off” their business travel, and it could be as much as another year before they start booking trips again. “These are the biggest tech companies in the world, and we do have some optimism that they’ll start opening the valve sometime — hopefully in the back ...

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• 30 January

  Levi revenue beats expectations as denim demand holds up

  

    Bloomberg Levi Strauss & Co. reported quarterly revenue that exceeded expectations, suggesting fears of a denim slowdown were overblown amid strong momentum in the direct-to-consumer business and improving trends in Europe. Revenue in the fiscal fourth quarter ended November 27 was $1.59 billion, compared with the $1.57 billion average estimate of analysts surveyed by Bloomberg. Earnings of 34 cents ...

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• 30 January

  Superdry drops after warning on weaker shopper sentiment

    Bloomberg Superdry Plc shares plunged after the fashion retailer cut its profit outlook for the year, blaming its underperforming wholesale business and warning of potential consumer weakness in the months ahead. The British retailer, known for its logo T-shirts and bright colours, expects adjusted pretax profit to be flat for fiscal year ending in April. That compares with a ...

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• 30 January

  Philippine coffee chain jumps to record

    Bloomberg Figaro Coffee Group Inc. jumped to a record as Philippine’s largest instant noodle maker Monde Nissin Corp. acquired a 15% stake in the company, giving the local coffee chain and restaurant operator more funds to expand its store network. Shares of Figaro advanced 5.6%, trimming earlier gains of as much as 6.7%, while volume surged about 24 times ...

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• 29 January

  UK’s power switch-off shows future for cleaner energy grid

  

    Bloomberg For a few hours last week, British consumers were asked to make a choice: keep consuming power as normal or just turn the lights off. Hundreds of thousands of households took part in the effort to reduce electricity demand during a couple of hours when energy supplies were forecast to be particularly tight. There was a financial incentive ...

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• 29 January

  Elon Musk faces SEC probe for role in Tesla self-driving claims

  

  Bloomberg US regulators are investigating Elon Musk’s role in shaping Tesla Inc.’s self-driving car claims, the latest effort by watchdogs to scrutinize the actions of the world’s second-richest person. The review is part of an ongoing Securities and Exchange Commission probe of the company’s statements about its Autopilot driver-assistance system, according to a person with knowledge of the matter who ...

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• 29 January

  Argentine leader expects Mercosur, EU to close trade agreement soon

  

  Bloomberg The Mercosur trade group and the European Union will reach a trade agreement soon, Argentine President Alberto Fernandez said in Buenos Aires, during German Chancellor Olaf Scholz’s visit to the South American nation. The trade bloc, which also consists of Brazil, Paraguay and Uruguay, is keen to finalize the long-negotiated deal, Fernandez said, adding that he has spoken to ...

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• 29 January

  Chip controls won’t affect earnings: ASML

    Bloomberg Europe’s biggest semiconductor-equipment maker ASML Holding NV said an agreement between the Netherlands, the US and Japan to restrict exports of some advanced chipmaking machinery to China shouldn’t have a “material effect” on forecast it has published for this year. “In combination with the current market situation, we do not expect these measures to have a material effect ...

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