December, 2022

• 20 December

  Retailers dangle credit to get UK holiday shoppers spending

  

    Bloomberg British retailers are drumming up new credit offers to encourage shoppers to spend more during one of the most challenging Christmas periods for business in years. For the first time in a decade, department store John Lewis Partnership Plc, a favourite of middle-class Britons, has lowered the threshold for interest-free loans to £500 ($608) from £1,000. High Street ...

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• 20 December

  L3Harris to buy Aerojet Rocketdyne in $4.7b deal

  

    Bloomberg L3Harris Technologies Inc has agreed to buy rocket engine maker Aerojet Rocketdyne Holdings Inc in a deal valued at about $4.7 billion. L3Harris will pay $58 per share in the all-cash transaction, which includes debt, the company said in a statement. The transaction price represents a 37% premium to what Aerojet cited in an investor document as its ...

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• 20 December

  Woolworths sells Australia’s David Jones chain to Anchorage

  

    Bloomberg Woolworths Holdings Ltd. agreed to sell Australia’s oldest department store chain David Jones to Anchorage Capital Partners, ending an expensive misstep for the South African retailer. The deal will remove about 17 billion rand ($965 million) of liabilities related to the David Jones store portfolio, Woolworths said in a statement. Management expects to get more than the carrying ...

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• 20 December

  Peru reopens some airports ahead of debate over vote

  

    Bloomberg Peru’s government is reopening some airports ahead of another attempt by congress to approve early elections to calm protesters and alleviate the country’s political crisis. The airport in Juliaca, in southern Peru, will resume operations while the airport in the south-central city of Ayacucho could resume operations on Tuesday, Transport Minister Paola Lazarte said in a tweet from ...

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• 20 December

  Amazon hit with strike campaign in Germany

    Bloomberg German labour union Verdi called on Amazon.com Inc warehouse workers to go on strike across the country during the holiday season, seeking to press the company for higher pay and to join collective bargaining agreements. The timing and location of individual walkouts won’t be announced in advance, the union said in a statement. Amazon didn’t immediately respond to ...

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• 20 December

  EDF delays reactor restarts in further blow to energy supply

  

    Bloomberg Electricite de France SA (EDF) extended maintenance halts at two nuclear reactors by four months and warned it may have to carry out lengthy repairs at seven others next year, further straining European power supplies. The world’s largest nuclear fleet has suffered prolonged shutdowns this year that have left Europe even more reliant on natural gas at a time ...

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• 20 December

  US won’t help fund China’s chip ambitions: Emanuel

  

    Bloomberg The US is “not in the business” of aiding rival chip-producing countries, Ambassador to Japan Rahm Emanuel said, as the White House steps up efforts to deny China access to American technology. “It’s one thing if you’re going to have competition,” Emanuel said in an interview with Bloomberg Television. “The other thing is if you actually help the ...

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• 20 December

  Musk polls Twitter to resign as chief, voters leaning towards yes

  

  Bloomberg Elon Musk, under fire for recent policy changes at Twitter Inc, is asking users whether he should step down as head of the social media site. With the poll set to end in New York, around 57% of the 16 million voters have said yes. The billionaire owner of Twitter and chief executive officer of Tesla Inc will abide ...

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• 20 December

  UK asks consumers to turn down their boilers to save scarce gas

  

  Bloomberg The UK is encouraging consumers to cut their energy use as part of a campaign aimed at scaling back demand for power and natural gas in the face of soaring bills this winter. Prime Minister Rishi Sunak’s government started its long-awaited public energy-saving campaign, just as the country emerges from a week of freezing temperatures that caused demand to ...

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• 20 December

  US’ Headspace app cuts 50 workers

    Bloomberg Headspace Health, the maker of a popular meditation and mental-health mobile app, cut about 50 jobs, or 4% of its workforce, the latest internet startup to scale back as funding dries up and economic growth decelerates. The Santa Monica, California-based company had about 1,200 workers before eliminating the positions, a spokesperson said. Headspace competitor Calm, another meditation app, ...

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