December, 2022

• 19 December

  Airline revenue is pressured in ‘off-trend’ calendar quirk

  

    Bloomberg Airlines are coping with a calendar quirk that’s prompting more fliers to book flights on either side of December, creating an air pocket in the last month of the year. The US Thanksgiving holiday on November 24 was the earliest its been since 2018, prompting more travellers to take a return trip the same month — unlike in ...

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• 19 December

  Starbucks-Amazon store staff reject union membership

    Bloomberg Baristas at an experimental Starbucks-Amazon Go store in New York narrowly rejected union membership, the latest setback for the US labour movement. The workers, who legally work for Starbucks Corp, requested a union election because they said the tie-up between the coffee chain and Amazon.com Inc doubled their workload with no additional pay. The vote was very close, ...

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• 19 December

  Zambia seeks to sell Gulfstream jet

    Bloomberg Zambia is looking to sell a Gulfstream G650ER jet bought for the presidency for $194.9 million in 2019 as it seeks to cut costs. President Hakainde Hichilema pledged to offload the plane once elected, and hasn’t used it since taking office in August last year, opting rather for commercial flights or an older presidential jet. The previous administration ...

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• 19 December

  Foxconn to sell stake in China chip giant amid Taiwan review

  

    Bloomberg A subsidiary of Taiwan’s Hon Hai Precision Industry will dispose of its indirect minority stake in China’s semiconductor giant Tsinghua Unigroup, the latest sign that Beijing’s chip industry is becoming increasingly isolated from the rest of the world. Hon Hai’s China-listed Foxconn Industrial Internet will sell the shares to Yantai Haixiu IC Investment Center for not less than ...

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• 19 December

  China’s growth to pick up in 2023 on stimulus: CCTV

  

    Bloomberg China’s economic growth will accelerate in next year as stimulus policies take effect, CCTV reported, citing a senior planning official. Existing pro-growth measures will be kept in place and more policies to boost the economy will be added, Han Wenxiu, an official at the Communist Party of China’s central financial and economic affairs commission, told a forum. So ...

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• 19 December

  Hillhouse Capital to combine its Singapore offices in new location

    Bloomberg Investment giant Hillhouse Capital is consolidating its two Singapore locations by moving to one of the city-state’s most premier office buildings overseeing the Marina Bay skyline, according to people with knowledge of the matter. Hillhouse has signed a lease for the 28th floor of Marina Bay Financial Centre Tower 1, the people said, asking not to be identified ...

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• 19 December

  TSMC CEO says export controls weaken trust among countries

  

    Bloomberg Taiwan Semiconductor Manufacturing Co (TSMC) Chief Executive Officer CC Wei warned of the dangers of excessive government export controls, which can erode mutual trust between countries. “Export controls and banning products from other foreign countries destroy productivity and efficiency gained under globalisation, or at least they reduce benefits offered by a free market,” Wei said at an industry ...

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• 19 December

  Japan to raise winter bonus by 9.7%

    Bloomberg Japanese companies are set to raise winter bonus payments by 9.7%, the largest gain since 1975, a survey by Nikkei newspaper reported. Steel makers led all industries in bonus increases, while semiconductors saw several companies reporting record profit led by strong demand. Disco Cor, a maker of precision processing equipment, paid Â¥3.16 million, the highest level among all ...

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• 19 December

  Coal’s surge not to stop Idemitsu selling Australian mine stake

  

    Bloomberg Japan-based Idemitsu Kosan Co will aim to go ahead with the sale of a stake in an Australian coal mine, despite a surge in prices. The firm is in talks with several entities interested in acquiring its 85% stake in the Ensham mine in Queensland, said President Shunichi Kito, who didn’t elaborate on the parties involved or when ...

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• 19 December

  North Korea fires two ballistic missiles, escalating tensions

  

  Bloomberg North Korea fired at least two suspected medium-range ballistic missiles from near a site that a few days ago it tested a new solid-fuel rocket engine that could enhance its ability to launch quick-strike, longer-range missiles for delivering nuclear warheads. Two medium-range ballistic missiles were launched from the Tongchang county area, South Korea’s Joint Chiefs of Staff said. Japan’s ...

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