December, 2022

• 9 December

  Mike Ashley’s Frasers group defies cost-of-living crisis

  

    Bloomberg Frasers group Plc’s string of acquisitions and property sales are helping bolster Mike Ashley’s shopping empire as the cost-of-living crisis weighs on most retailers’ performance. Frasers, which owns Sports Direct and House of Fraser, is sticking to its goal of adjusted profit before tax at a record £450 million ($549 million) to £500 million for this financial year. ...

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• 9 December

  UK regulator delays ruling on Heathrow passenger fee

    Bloomberg Britain’s aviation regulator delayed a decision on fee hikes at London Heathrow airport as it evaluates how a UK recession and rising interest rates are likely to impact travel demand. An interim charge of £31.57 ($38) per passenger should be applied from February through the rest of 2023 pending a final ruling on a five-year charging structure, the ...

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• 9 December

  JetBlue moves away from carbon credits

  Bloomberg JetBlue Airways Corp is walking away from the purchase of carbon offsets for its domestic flights in 2023, instead opting to step up its investment in and use of sustainable aviation fuel (SAF). The carrier disclosed the shift as part of a wider commitment to reducing lifecycle greenhouse gas emissions from jet fuel by 50% per revenue ton kilometre ...

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• 9 December

  India unveils $29.6b plan to upgrade grid for clean power

  

    Bloomberg India unveiled a 2.44 trillion rupee ($29.6 billion) plan to build transmission lines to connect renewable generation, as it aims to nearly triple its clean-power capacity by 2030. The project will connect solar plants in the sun-drenched deserts of Rajasthan and Gujarat and wind farms in Tamil Nadu to the national network, the power ministry said in a ...

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• 9 December

  Trafigura records $7b profit in blowout year

  

    Bloomberg Trafigura group earned a record $7 billion in its last financial year, more than the previous four years combined, as the commodities trader cashed in on wild price swings and arbitrage opportunities driven by Russia’s invasion of Ukraine. Earnings more than doubled in the 12 months through September, Trafigura said, while revenue surged to $318.5 billion. The oil ...

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• 9 December

  German utility inks 25-year deal to import gas via new terminal

  

    Bloomberg German utility EnBW Energie Baden-Wuerttemberg AG agreed to import liquefied natural gas (LNG) and green ammonia for 25 years as the country substitutes lower Russian supplies. The company signed a long-term capacity booking for 3 billion cubic meters of LNG per year at a terminal in the northern town of Stade, EnBW’s trading executive director Peter Heydecker said ...

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• 9 December

  European natural gas prices jump

    Bloomberg European natural gas prices jumped for a third session as a blast of unusually cold weather across the northern half of the continent tests its resilience to a historic energy crisis. Benchmark futures surged 6.5% after settling at the highest level since mid-October. From London to Latvia, temperatures are set to drop below freezing in the coming days ...

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• 9 December

  Big Oil betting billions on global ‘climate catastrophe’

  

  Bloomberg The world’s biggest oil producers are spending billions of dollars on fossil fuel projects that will only be needed if the world misses key climate goals, according to Carbon Tracker, a non-profit think tank. Companies invested $58 billion in oil and gas projects in 2021 and 2022 that will only be required if fossil fuel demand grows to a ...

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• 9 December

  Son lifts SoftBank’s stake to 34%, edging towards buyout

  

    Bloomberg Masayoshi Son has quietly tightened his grip on SoftBank Group Corp during a tumultuous market downturn, edging closer to the point where he could bid to take the world’s largest technology investor private. The billionaire now owns more than a third of the company he founded, after aggressive buybacks in the last two months reduced SoftBank’s outstanding stock ...

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• 9 December

  Chinese EV giant BYD enters Malaysia in Sime Darby deal

  

  Bloomberg China’s BYD Co will sell its electric vehicles in Malaysia in a 500 million ringgit ($113 million) tie-up with Sime Darby Motors Sdn Bhd. Sime Darby will be BYD’s exclusive distributor in Malaysia, with the first showroom to open later this month, the companies said in a statement. They plan to have 20 dealerships by next year, and 40 ...

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