December, 2022

• 12 December

  UK’s small jets one of largest sources of lead pollution

  

    Bloomberg Over 370,000 UK homes could be “at risk” from toxic pollution near airports which the government underestimated by 14,000 times, according to a University of Kent study. The research suggests small piston-powered private planes which typically run on leaded fuel are one of the UK’s single largest sources of lead pollution, amounting to 11% of the total since ...

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• 12 December

  Cathay brings back first class on some key, popular routes

  

    Bloomberg Cathay Pacific Airways Ltd is bringing back first class seating on a handful of routes, joining several other carriers in reviving their high-end offerings as air travel recovers. Cathay relaunched first class on one of its daily Hong Kong-London flights last week, with Paris to be added from January 18 and Tokyo Haneda on February 1. First-class return ...

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• 12 December

  Holiday rush sparks chaos at India’s busiest airport in Delhi

  

    Bloomberg The holiday rush has crippled India’s busiest airport in Delhi, with irate passengers complaining on social media about missed flights and serpentine pre-boarding lines. Pictures posted on Twitter showed overcrowding at Delhi International Airport Ltd, with passengers grumbling about long waits for security check and mismanagement by airport staff. The government has even stepped in to help ease ...

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• 12 December

  Unilever weighs sale of US ice cream brands for $3bn

  

    Bloomberg Unilever Plc is weighing the sale of a portfolio of US ice cream brands that could be valued at as much as $3 billion, people familiar with the matter said. The UK consumer giant is working with advisers to review local brands such as Klondike and Breyers that may be considered for divestment, according to the people. International ...

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• 12 December

  UK fashion chain M&Co enters insolvency

    Bloomberg UK fashion chain M&Co Trading Ltd has gone into administration after struggling to cope with higher costs and waning consumer appetite. The retailer appointed Teneo to oversee the administration, seeking a possible sale of the business while M&Co’s 170 stores and website continue to operate, according to a statement. Around 1,900 staff are at risk of redundancy. M&Co ...

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• 12 December

  China’s markets are primed for extreme volatility in 2023

  

    Bloomberg When China’s securities regulator vowed to reduce market volatility in January, few predicted that this year would be one of the most turbulent in recent memory. The drama has only increased this quarter, setting the scene for more upheaval in 2023. Chinese stocks are now moving by 5% a day more frequently than anytime since the global market ...

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• 12 December

  Hong Kong tycoon mulls $200m FWD investment

  

    Bloomberg Hong Kong billionaire Richard Li is weighing investing about $200 million in his insurance company FWD Group Holdings Ltd as part of a funding round, people familiar with the matter said. An investment would help support the insurer’s growth plans ahead of a long-awaited Hong Kong initial public offering, which could take place as soon as 2023, the ...

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• 12 December

  Philippines’ Marcos says wealth fund to help boost investments

    Bloomberg Philippine President Ferdinand Marcos Jr said the proposed sovereign wealth fund will help boost economic development and investments in the country. “I wouldn’t have brought it up otherwise,” Marcos said, according to a news release posted by the Office of the Press Secretary. “It’s very clear that we need added investment. This is another way to get that.”

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• 12 December

  China’s top medical adviser says omicron’s risks just same as flu

  

  Bloomberg Chinese officials continued to downplay the risks of Covid-19 as restrictions are eased, with a top medical adviser saying the fatality rate from the omicron variant of the virus is in line with influenza. The death rate from omicron is around 0.1%, similar to the common flu, and the infection rarely reaches the lungs, Zhong Nanshan was quoted in ...

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• 12 December

  India’s retail inflation eases below 6%

    Bloomberg India’s retail inflation slowed below 6% for the first time in 2022 amid cooling global commodity prices and higher borrowing costs, providing reprieve for policymakers. The consumer price index rose 5.88% from a year earlier, according to data released by the Statistics Ministry on Monday. That’s slower than a median estimate for a 6.35% gain in a Bloomberg ...

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