November, 2022

• 5 November

  Recession alone won’t tame inflation: Lagarde

  

  European Central Bank (ECB) President Christine Lagarde warned that a “mild recession” is possible but that it wouldn’t be sufficient in itself to stem soaring prices. Speaking a week after the ECB’s second straight 75 basis-point hike in borrowing costs, and as fears mount that the energy crisis will drag down output in the 19-nation euro zone, Lagarde said “we ...

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• 5 November

  PBOC reaffirms pledge to make yuan more flexible

  

  The People’s Bank of China’s (PBOC) Governor Yi Gang reaffirmed a pledge to make the yuan exchange rate more flexible, while vowing to improve the monetary policy. The central bank will keep the yuan basically stable at a reasonable equilibrium level, Yi reiterated in a meeting held to study the Communist Party’s twice-a-decade congress, according to a statement published by ...

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• 5 November

  To buy or rent, that is too big a question

  

  Brooke Sample Remember when New Yorkers began fleeing the city at the beginning of the pandemic, escaping to their summer homes in the Hamptons or snapping up houses in the country? Those who dreamed of living in New York suddenly saw an opportunity to make it happen as landlords dropped rents in a desperate effort to fill now-empty units. Unfortunately, ...

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• 5 November

  Why your first electric car might be Chinese

  

  Chris Bryant | Anjani Trivedi Tesla Inc. would have delivered more cars in the most recent quarter but for a shortage of boats. It’s having problems finding vessel capacity out of Shanghai. No wonder: China recently overtook Germany as the world’s second-largest auto exporter. China’s auto exports rose over 50% in the first nine months of this year, shipping out ...

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• 5 November

  China preparing plan to end Covid-19 flight suspensions

  

  China is working on plans to scrap a system that penalises airlines for bringing virus cases into the country, according to people familiar with the matter, a sign authorities are looking for ways to ease the impact of the Covid Zero policy. The State Council, which oversees China’s bureaucracy, has asked government agencies including the civil aviation regulator to prepare ...

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• 5 November

  Nestlé shuns price hikes as Indonesians tighten purse strings

  

  Nestlé, one of the top consumer goods suppliers in Indonesia, will avoid raising prices further after a 5% hike this year began to hurt demand. Faltering sales volume amid higher product prices is happening throughout the consumer goods industry, said PT Nestlé Indonesia President Director Ganesan Ampalavanar. He expects commodity costs to fall in the second half of 2023, which ...

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• 5 November

  Airline passengers happier now than before Covid despite delays

  

  Airline passengers are still happier with service standards now than before the coronavirus crisis, despite many carriers suffering a summer of delays and cancellations linked to staffing shortages. Passenger contentedness has shown only a slight dip, the International Air Transport Association (IATA) said, with 80% of people in a recent survey declaring themselves very satisfied or somewhat satisfied, compared with ...

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• 5 November

  Hong Kong Airport opens ‘skybridge’ in preparation for revival

  

  Hong Kong International Airport (HKIA) opened a bridge connecting a terminal and satellite concourse, part of a wider HK$9 billion ($1.15 billion) upgrade even as a full recovery in air traffic remains far off. “What the airport engineers and practitioners want to make sure is we complete the facilities in advance of the demand coming up,” said Ricky Leung, HKIA’s executive ...

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• 5 November

  Uniper posts $39.3 billion loss as Russia throttles gas supply

  

  Uniper SE reported one of the biggest losses in German corporate history, with Russia’s stranglehold on gas supplies leaving the giant utility struggling to survive. Uniper reported a net loss of about €40 billion ($39.3 billion) in the first nine months of the year after being forced to buy gas at prices far beyond what it paid Russia under long-term ...

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• 4 November

  Europe’s wind farm developer gets profit boost from burning coal

  

  One of Europe’s greenest utilities, Orsted A/S, is set to make more money this year thanks in part to burning more coal as Europe turns to the polluting fuel to provide energy security. While Orsted mostly generates electricity from an increasing fleet of wind farms at sea, it also has plants that produce power and heat from burning coal and ...

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