January, 2023

• 7 January

  Britain needs faster fix to leaky homes to curb high energy bills

  

    Bloomberg The UK is failing to do enough to improve energy efficiency, which is needed to curb struggling households’ soaring bills, a parliamentary committee found. Government ministers must prioritise upgrading the country’s leaky housing, the Environmental Audit Committee’s report said. That includes setting a goal of at least 1 million energy-saving improvements like insulation, solar panels or heat pumps ...

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• 7 January

  Chevron CEO defends record profits

    Bloomberg Chevron Chief Executive Officer Mike Wirth pushed back on claims by President Joe Biden that Big Oil’s record profits are being made on the back of the war in Ukraine and at the expense of the American people. The industry’s highest-ever cash haul should not be viewed in isolation because only three years ago it was “losing billions ...

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• 7 January

  Europe set for warmest January in years as gas crisis eases

  

    Bloomberg Europe is set for the warmest January in years, easing an energy crunch that has hammered the region for months. Mild conditions are likely to persist across the region until the end of the month, with a strong weather front blocking out cold polar air, according to forecaster Maxar Technologies Inc. While sparking climate concerns, the warmth over ...

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• 7 January

  Panasonic resists decoupling trend to boost China funding

  

  Bloomberg Panasonic Holdings Corp will boost its investment in China significantly, bucking the growing trend of foreign companies reducing their exposure to the country as geopolitical tensions rise and the domestic economy slows. The company will invest more than 50 billion yen ($373 million) in China through the end of 2024 to build and expand factories making home appliances for ...

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• 7 January

  Key China coal importer buys Australia cargoes

  

    Bloomberg One of China’s biggest coal importers struck a deal for Australian cargoes and others are already in talks for purchases as curbs on imports from the producer are eased. China Energy Investment Corp (CEIC) bought at least two shipments from Australia and may purchase as many as four cargoes, according to people with knowledge of the matter. The ...

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• 7 January

  Modi takes steps to allow Yale, Oxford to open India campuses

    Bloomberg India has taken a step towards allowing leading foreign universities such as Yale, Oxford and Stanford to set up campuses and award degrees as part of an overhaul of the South Asian nation’s higher education. Regulator the University Grants Commission unveiled a draft legislation for public feedback that seeks to facilitate entry and operation of overseas institutions in ...

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• 7 January

  Reopening of Hong Kong-China border no quick fix for ailing city

  

    Bloomberg After three long years, checkpoints at the border separating Hong Kong from mainland China are set to reopen from Sunday in a move that’s seen as having a muted impact on the city initially. Businesses in the city face a number of challenges, which partly stem from the lengthy closure. Wealthy mainland Chinese took their business to Singapore, ...

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• 6 January

  China mulls cap on realty agent commissions

    Bloomberg China may impose a nationwide cap on real estate commissions to boost demand in the flagging property market and regulate brokerage fee collection, according to people familiar with the situation. Authorities are considering a range of 2% to 2.5% of the sale price as a guide, one of the people said, asking not to be identified discussing a ...

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• 6 January

  Tesla over 40% cheaper in China than US as prices cut again

  

  Bloomberg Tesla Inc shares are poised to extend their slump after the carmaker made another round of price cuts in China’s increasingly competitive electric vehicle (EV) market. The starting price for Tesla’s locally built Model Y sport utility vehicle has dropped to a new low of 259,900 yuan ($37,875) from 288,900 yuan, according to the company’s China website. That standard-range, ...

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• 6 January

  Washington, Berlin to send Ukraine armoured vehicles

  

  Bloomberg The US and Germany will send armoured vehicles and an additional Patriot air defense system to Ukraine, a significant upgrade in firepower urgently sought by President Volodymyr Zelenskiy in the fight against Russia’s invasion. The US will provide its Bradley Fighting Vehicles while Germany is sending its Marder vehicles, the leaders said in a joint statement. Germany also will ...

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