December, 2022

• 29 December

  Big Oil and tanks top Europe’s stock markets in 2022, real estate lags

  

    Bloomberg Beset by war, soaring costs and higher interest rates, 2022 was a year many European companies — and stock market investors — would prefer to forget. Carefully crafted investment strategies were thrown into disarray, first by Russia’s invasion of Ukraine and the subsequent energy crisis, then by surging borrowing costs that lifted Germany’s 10-year bond yield, Europe’s benchmark, …

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• 28 December

  Airlines face huge shortage of planes as travel roars back

  

    Bloomberg As travel springs back and even China dismantles the last remaining Covid curbs, one stark truth is beginning to emerge — the world is running desperately short of planes. With carriers from United Airlines Holdings Inc to Air India Ltd placing, or looking to place, jet orders that number in the hundreds, Boeing Co and Airbus SE are …

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• 28 December

  KFC’s South Africa unit to shut some outlets due to Eskom’s power cuts

  

    Bloomberg KFC is temporarily closing some of its fried-chicken outlets in South Africa due to power cuts imposed by state electricity provider Eskom Holdings SOC Ltd. The Yum! Brands Inc chain made the decision after the number of blackout days passed 200 this year, a record. Eskom supplies more than 90% of South Africa’s electricity and has implemented nationwide …

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• 28 December

  UK Boxing Day shopping spree offers retailers temporary relief

  

    Bloomberg The rush to take advantage of post-Christmas sales lifted shopper numbers on Boxing Day, but with the cost-of-living crisis pushing UK consumers to cut back on spending any boost for retailers may prove short-lived. Retail tracker Springboard said Boxing Day shopper numbers rose 39% on 2021, when there were still some pandemic restrictions in place and limited trading …

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• 28 December

  Southwest memos show growing alarm before storm hit

  

    Bloomberg As a winter storm bore down on a broad swath of the US, a staffing crisis was brewing for Southwest Airlines Co in Denver. Chris Johnson, the carrier’s vice president of ground operations, declared a “state of operational emergency” at the airport after “an unusually high number” of employee absences, according to a message to ramp workers seen …

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• 28 December

  US considers Covid prevention plans for travellers from China

    Bloomberg The US is considering taking new coronavirus precautions for people travelling from China, which has seen a rapid rise in infections as officials lift Covid Zero restrictions. US officials said the government is concerned about the surge of cases in China, and has raised questions about the transparency of data the country is reporting about the spread of …

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• 28 December

  Fuel-glitch delays flights at S Africa airport

    Bloomberg A glitch in OR Tambo International Airport’s fuel-supply system resulted in major flight delays at South Africa’s busiest airport. The airport in Johannesburg has been “experiencing challenges with fuel supply from its fuel storage facility to the main hydrant system,” Airports Company South Africa said in a post on Twitter. “Technicians are onsite and have resolved the issue.” …

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• 28 December

  BNP defends $20b ESG call as downgrades feed debate

  

    Bloomberg The asset management arm of BNP Paribas SA said using a different interpretation of “sustainable investment” than some of its peers has allowed it to keep the European Union’s top ESG tag attached to about $20 billion worth of funds. Firms including BlackRock Inc, Amundi SA and Axa Investment Managers have reclassified more than $140 billion of so-called …

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• 28 December

  Japan moves to ease crypto token listings

  

  Bloomberg Japan will make it easier for cryptocurrency exchanges to list tokens, pressing ahead with plans to liberalise the industry even after the epic failure of Sam Bankman-Fried’s digital empire. The body that governs crypto exchanges informed member companies of the new rule which takes effect immediately, enabling them to list coins without going through a lengthy pre-screening unless the …

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• 28 December

  Wall Street’s big banks score $1trn of profit in one decade

  

  Bloomberg Malick Diop felt something shifting on Wall Street. He’d joined Morgan Stanley in the grim days of 2009, when big banks were trying to pay back taxpayer bailouts and deflect public fury. But four years later, the ire was fading and ambition was the order of the day. “It really felt like, for the first time, the job and …

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