December, 2022

• 7 December

  Russian tourists returning to Thailand on chartered flights

    Bloomberg Russian tourists are once again traveling in large numbers to Thailand via chartered flights and using credit cards issued outside the country to get around payment difficulties, turbo-charging a gradual tourism recovery in the Southeast Asian nation. More than 44,000 Russians visited Thailand in October, compared with less than 10,000 each in the months following the start of …

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• 7 December

  Sainsbury’s invests $61m to cut food prices

    Bloomberg J Sainsbury Plc is investing an extra £50 million ($61 million) to keep prices down as the cost-of-living crisis grows in the UK. As part of the latest push, more than £15 million is targeted to make shoppers’ Christmas spend more affordable, for example with ingredients for a roast dinner at less than £4 a person. Shoppers are …

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• 7 December

  Winter blast puts pressure on UK, Nordic energy systems

  

    Bloomberg Northern Europe faces freezing temperatures for the next two weeks, with an expected jump in heating demand adding pressure to the region’s stretched energy systems. Nordic countries will feel the brunt of the cold snap, with a low of -9.5C (14.9F) in Oslo expected next Tuesday, forecaster Maxar Technologies Inc. said in a report. Arctic air will also …

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• 7 December

  NRG to acquire Vivint in bet on smart home tech

    Bloomberg NRG Energy Inc agreed to buy Vivint Smart Home Inc for $2.8 billion to accelerate the US power producer’s strategy of diversifying from its core electricity-generation business by focusing on retail consumers. Vivint, based in Provo, Utah, sells smart thermostats, locks, lights and other household devices. NRG said on Tuesday it will pay $12 a share in cash …

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• 7 December

  Australia raises key interest rate, warns more tightening

  

    Bloomberg Australia’s central bank raised its key interest rate for an eighth consecutive month and said it expects to tighten further as policy makers combat the hottest inflation in three decades. The Reserve Bank increased its cash rate by a quarter-percentage point to 3.1%, the highest level since November 2012, at its final meeting of 2022. The widely anticipated …

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• 7 December

  Argentina’s fintech Ualá to start offering loans for its clients in Mexico

  

    Bloomberg Argentina’s Ualá, the fintech company backed by George Soros, Steve Cohen and Tencent Holdings, will begin offering loans for its clients in Mexico through its alliance with Mexican bank ABC Capital. The service will be offered through ABC and allow for loans of up to 20,000 mexican pesos ($1,011) between 12 and 36 months, according to Ualá chief …

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• 7 December

  Grupo Mexico in advanced talks to acquire Citigroup’s retail unit

  

  Bloomberg Tycoon German Larrea’s conglomerate Grupo Mexico SAB is in advanced talks on a potential acquisition of Citigroup Inc’s Mexican retail bank Banamex, people with knowledge of the matter said. The mining magnate is trying to finalise terms of a potential deal with Citigroup, the people said, asking not to be identified because the information is private. No final agreements …

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• 7 December

  US dollar erases more than half of 2022’s gains on rates

  

  Bloomberg The US dollar has erased more than half of this year’s gains amid growing expectations the Federal Reserve will temper its aggressive rate hikes, and as optimism grows over China’s reopening plans. The Bloomberg Dollar Spot Index has pared its 2022 advance to about 7%, after gaining as much as 16% earlier, as slower-than-expected gains in consumer prices and …

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• 7 December

  Deutsche Bank hit with EU bond cartel complaint

    Bloomberg Deutsche Bank AG and Rabobank received formal complaints from the European Union’s antitrust watchdog for their alleged roles in a cartel for euro-denominated bonds, setting them up for potential fines from the regulator. The European Commission said it sent the banks a so-called statement of objections laying out concerns that the banks colluded “to distort competition” in trading …

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• 7 December

  JPMorgan reveals worst greenwash risk for firms

    Bloomberg Regulators look set to reserve their harshest interventions for firms caught making misleading statements about climate strategies, according to an assessment by JPMorgan Chase & Co analyst Jean-Xavier Hecker. “Climate change is likely to become the ESG theme where the crackdown on greenwashing will be the hardest, given that it represents a theme where scientific knowledge is widely …

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