January, 2023

• 7 January

  Southwest Airlines set to revise earnings forecast

  

    Bloomberg Southwest Airlines Co will update its earnings guidance prior to reporting fourth-quarter results to reflect costs associated with an operations meltdown that forced it to cancel 15,700 flights over eight days. “We will be issuing some information before earnings,” Chief Executive Officer Bob Jordan said in an interview without providing specifics of the changes. “Obviously it’s a significant ...

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• 7 January

  UK retail mood may get bleaker following Next’s holiday surprise

  

  Bloomberg British shoppers defied rampant inflation and economic gloom over the holiday season, driving up sales at clothing seller Next Plc and budget retailer B&M European Value Retail SA. Whether that spending will carry into the new year, however, remains in doubt. Next raised its annual profit forecast after Christmas sales gained, helped by a December cold snap that brought ...

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• 7 January

  Bed Bath & Beyond warns it may go out of business

  

  Bloomberg Bed Bath & Beyond has begun preparations for a bankruptcy filing that would likely come during its first operating quarter of the year, according to people with knowledge of the moves who asked not to be named discussing confidential plans. The Union, New Jersey-based company called off a proposed debt exchange and said that it might not be able ...

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• 7 January

  Philippine president seeks faster main airport upgrade

    Bloomberg Philippine President Ferdinand Marcos Jr asked his Transport chief to fast track talks with suppliers of equipment needed in the upgrade of the nation’s main airport after a New Year’s Day power-supply problem disrupted flights. At a televised briefing, Marcos said he wants the Ninoy Aquino International Airport in Manila to have a reliable power backup system. The ...

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• 7 January

  Oatly jumps on production deal

    Bloomberg Oatly Group AB surged after announcing it will transfer leases and production capacity at two US facilities to Canadian manufacturer Ya YA Foods Corp — a bid to fix product shortages that have plagued the Swedish oat milk maker. The $98.1 million co-packing agreement, expected to close in the first quarter, will last 10 years and is part ...

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• 7 January

  Green lending tops fossil fuel as Big Oil gets cash elsewhere

  

    Bloomberg For the first time, more money was raised in the debt markets for climate-friendly projects than for fossil-fuel companies. Roughly $580 billion was arranged in 2022 for renewable energy and other environmentally responsible ventures, while the oil, gas and coal industries turned to lenders and underwriters for closer to $530 billion, according to data compiled by Bloomberg. But ...

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• 7 January

  RWE, Equinor to build hydrogen power plants

  

    Bloomberg RWE AG and Equinor AS said they would build hydrogen power plants, as well as a pipeline to send the fuel to Germany from Norway. The two countries will “accelerate the creation of a functioning hydrogen market, a value chain,” Norwegian Prime Minister Jonas Gahr Støre said in Oslo, where he met German Vice Chancellor Robert Habeck. The ...

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• 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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