December, 2022

• 14 December

  Mahindra to build $1.2bn electric SUV plant in Pune

  

    Bloomberg Mahindra & Mahindra Ltd plans to invest 100 billion rupees ($1.2 billion) in a plant to make electric sports utility vehicles, a significant shift for a company that has been heavily reliant on gas-powered cars. Mahindra will invest the funds over eight years to build the factory in Pune, western India, according to an exchange filing. It will ...

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• 14 December

  Sony PlayStation 5 sales surge in US after supply issues ease

    Bloomberg Sony Group Corp led a big jump in video-game hardware sales in the US last month, in the latest sign of improving PlayStation 5 supply. The Tokyo-based entertainment giant drove a 45% spurt in US games hardware sales to $1.3 billion in November, according to the NPD Group. Back home in Japan, the company’s in-demand console can now ...

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• 14 December

  Indian farmers encouraged to sell crop waste to fight smog

  

  Bloomberg Farmers in India are being encouraged to sell their crop waste rather than burn it to help accelerate progress on curbing fires that spread a deadly, choking smog across key cities. Smoke from the burning of crop stubble lingers over most of north India for weeks during the cold months of November and December, with air quality deteriorating to ...

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• 14 December

  Takeda to pay $6bn for Nimbus drug

    Bloomberg Takeda Pharmaceutical Co agreed to pay as much as $6 billion for an experimental immune therapy from Nimbus Therapeutics, part of the Japanese drugmaker’s hunt for promising new products. Takeda will pay $4 billion upfront for the drug, which is called NDI-034858 and will be renamed TAK-279, the companies said in a statement. Cambridge, Massachusetts-based Nimbus is also ...

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• 14 December

  Electric vehicle tax-credit rules pit Joe Manchin against Hyundai

  

  Bloomberg Senator Joe Manchin is pressing Treasury Secretary Janet Yellen to stand firm on North American-based manufacturing requirements for lucrative electric-vehicle tax credits under the Inflation Reduction Act, setting up a battle between the West Virginia Democrat and Korea’s Hyundai Motor Co. At stake is whether Treasury would hand out the full $7,500 per vehicle in tax credits to more ...

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• 14 December

  US finalising arms upgrade to Ukraine with Patriot missiles

  

  Bloomberg The US is poised to send Patriot air and missile defense batteries to Ukraine pending final approval from President Joe Biden, two US officials said, fulfilling a key demand from Ukrainian leaders. President Volodymyr Zelenskiy has urgently sought the system, produced by Raytheon Technologies Corp.and Lockheed Martin Corp, saying Patriots are needed to counter the relentless barrage of Russian ...

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• 14 December

  Hong Kong activist wins appeal against Tiananmen charge

  

    Bloomberg A Hong Kong court overturned the conviction of a prominent local democracy activist for her role in a banned Tiananmen memorial last year, in a rare victory for the city’s beleaguered opposition. Chow Hang Tung was cleared by the High Court of charges of inciting others to take part in an unauthorised assembly in June 2021 to commemorate ...

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• 14 December

  Manila says Chinese vessels in Reef, Shoal ‘great concern’

    Bloomberg The Philippines’ Department of National Defense said it “views with great concern the reported swarming” of Chinese vessels in the Iroquois Reef and Sabina Shoal in the South China Sea. “Our lines remain open to dialogue,” the agency said. “However, we maintain that activities which violate our sovereignty, sovereign rights, and jurisdiction, and undermine the peace and stability ...

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• 14 December

  Biden welcomes Africa leaders in bid to undo image of US neglect

  

  Bloomberg US President Joe Biden is at pains to fix perceptions in Africa that the US has neglected the continent while China and Russia make inroads. He’ll get a chance when he hosts the first summit of its kind in eight years, one that will see him personally interact with leaders from the continent on trade, climate, and governance. The ...

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• 14 December

  UK, EU seek to unlock Northern Ireland Brexit deal by February

  

    Bloomberg European Union (EU) and British officials are seeking to unlock an agreement on their post-Brexit trade relationship by February and put to rest a contentious dispute that’s overshadowed relations since the UK left the bloc three years ago. The two sides have intensified talks over recent weeks on the so-called Northern Ireland protocol after months of stalemate, according ...

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