November, 2022

• 25 November

  Thanksgiving travel busier than it was before Covid-19

    Bloomberg Arrive at the airport early — the Thanksgiving travel rush is back. More people are traveling through US airports in the pre-holiday period than in 2019, according to the TSA. On November 22, 2,299,346 people were screened in security in American airports versus 1,968,137 passengers on the comparable day in 2019. The travel figures were higher as well, …

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• 25 November

  Walmart: No continued threat to stores

    Bloomberg The CEO of Walmart US, John Furner, says there is not currently “any reason to believe there is a continued threat to our Chesapeake store or any other Walmart facility” following the mass shooting at a store in Virginia. Details are still emerging, Furner said in a statement posted to the Walmart blog. Authorities confirmed six fatalities before …

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• 25 November

  UK faces $19.42 billion bill for three months of energy subsidy

  

    Bloomberg Energy regulator Ofgem will raise its price cap for the average UK home by 21% to £4,279 ($5,173) from January, underscoring the growing gap the government has to plug to maintain its price freeze. The UK has been subsidising Ofgem’s price cap since October in an attempt to shield households from the worst energy crisis in decades. That …

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• 25 November

  EU puts energy crisis steps on hold to address natural gas price cap

  

    Bloomberg The European Union (EU) paused efforts to approve a package of emergency measures to curb the fallout from high natural gas prices as member states struggled to resolve a deep split over a push to cap the cost of gas. Energy ministers holding an extraordinary meeting in Brussels agreed on the content of several emergency measures, but will …

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• 25 November

  Renault signs France’s largest green power-purchase deal

  

    Bloomberg Renault SA is buying solar power from Voltalia SA over 15 years in what is France’s biggest renewable corporate power-purchase agreement. Voltalia will install 100 megawatts of solar panels on the carmaker’s sites across France from 2025, with that number rising to 350 megawatts by 2027, the Paris-based company said. The deal, which is part of the carmaker’s …

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• 25 November

  Asia LNG prices jump to 7-week high

    Bloomberg Asia’s liquefied natural gas (LNG) spot price rallied to the highest level since early October on concern disruptions to production and the arrival of colder weather in key markets will further tighten supply. The Japan-Korea Marker, North Asia’s LNG benchmark, jumped 20% in the week to Wednesday to $34.24 per million British thermal units, according to traders citing …

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• 25 November

  Germany sets windfall tax at 90% for clean power generators

  

    Bloomberg Germany has set out its plan to claw back 90% of the earnings from some clean power generators as the government seeks funding for its consumer aid package. The government is planning to skim 90% of earnings above €130 a megawatt-hour for solar, wind and nuclear, according to a draft law seen by Bloomberg News. Politicians are trying …

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• 25 November

  Financial system to weather rate hike risks, says Bank of Canada

  

  Bloomberg The Bank of Canada’s No. 2 official said the country’s financial system will be able to weather growing stability risks stemming from higher interest rates and inflation that’s causing hardship for many households. In prepared remarks of a speech delivered in Ottawa, Senior Deputy Governor Carolyn Rogers said risks for Canada are mitigated by financial reforms since the 2008-09 …

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• 25 November

  Riksbank sees more hikes after rate salvo on cusp of slump

  

    Bloomberg The Riksbank raised borrowing costs by 75 basis points and signalled more tightening is needed to tame inflation even as it predicted a worsening slump for Sweden’s economy. In his final decision as central-bank governor, Stefan Ingves and his colleagues lifted the key interest rate to 2.5%, the highest since 2008. Most economists anticipated the move. Officials raised …

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• 25 November

  BOE must continue raising rates regardless of pain, says Ramsden

  

    Bloomberg The Bank of England (BOE) must continue raising interest rates to bring inflation back to 2% even if it means more hardship for households, Deputy Governor Dave Ramsden said. Citing concerns about the tight labour market and high inflation expectations, Ramsden said his bias was for further tightening. The BOE has raised rates eight times since December to …

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