November, 2022

• 14 November

  Boeing sees bright future in India as clouds persist over China

  

    Bloomberg Boeing Co. sees India as key to offsetting sluggish business in China, its biggest overseas market, as it tries to seal a massive aircraft order from the South Asian nation’s flag carrier and expand its presence in the country. “With uncertainty around China, the Indian market is increasingly important to us,” John Bruns, Boeing vice president of commercial …

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• 14 November

  United offers 5% pay hike to pilots ahead of schedule

    Bloomberg United Airlines Holdings Inc. told pilots it will move forward a planned 5% pay hike to December “in a show of good faith,” days after the aviators rejected a proposed contract. The carrier decided to accelerate the raise based on its financial results through September and outlook for the rest of 2022, according to a letter sent by …

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• 14 November

  Coupang posts first operating profit

    Bloomberg Coupang Inc, the South Korean e-commerce firm backed by SoftBank Group, posted its first operating profit on record after winning more customers and improving cost efficiency. The third-quarter operating profit amounted to $77.4 million, compared with a loss of $315 million on that basis a year earlier, the US-listed company said in a statement. Net revenue climbed 10% …

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• 13 November

  Amazon’s new warehouse robot could one day replace humans

  

    Bloomberg Amazon.com Inc. has developed a robot capable of identifying and handling individual items, a milestone in the e-commerce giant’s efforts to reduce its reliance on the human order pickers who currently play a key role in getting products from warehouse shelves to customers’ doorsteps. The robotic arm, tipped by a set of retractable suction devices, is called Sparrow. …

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• 13 November

  TikTok slashes ad sales target by $2 billion after tech downturn

  

    Bloomberg ByteDance Ltd.’s TikTok has slashed about $2 billion off its target for 2022 ad revenue, underscoring fallout of a global downturn that’s hammered fellow internet giants from Google to Meta Platforms Inc. TikTok Chief Executive Officer Shou Zi Chew told a handful of employees that the Chinese-owned app has slashed its ad forecast for 2022 to $10 billion …

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• 13 November

  BMW, Stellantis see Europe demand slowing as inflation bites

  

    Bloomberg Europe’s inflation crisis is beginning to catch up with the automakers. Stellantis NV said consumers in Europe are slightly dialling back car purchases, joining Germany’s BMW AG in warning the region is on the backfoot due to surging costs for anything from energy to lending. Carmakers long defied economic headwinds thanks to robust demand for their priciest models, …

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• 13 November

  Foxconn to ramp up China expansion

  Bloomberg Hon Hai Precision Industry Co. intends to keep expanding capacity in China despite persistent disruption from some of the world’s harshest Covid control measures. The company known as Foxconn intends to raise capital spending in 2023 and the biggest portion of that expenditure will go toward its already giant production base in China, Chairman Young Liu told analysts. Foxconn, …

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• 12 November

  US, Japan-led climate pact set to offer Indonesia $15b

  

  Bloomberg The US, Japan and other countries will offer a climate finance deal worth as much as $20 billion to help Indonesia shift its coal-dominated power grid away from the polluting fossil fuel. Details of an agreement will be announced during the Group of 20 meetings in Bali next week after talks between US President Joe Biden and Indonesian President …

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• 12 November

  Hindalco profit sinks on high costs, plans to raise $124 million

  

    Bloomberg Hindalco Industries Ltd., the metals flagship company of billionaire Kumar Mangalam Birla’s conglomerate, posted a sharp decline in quarterly profit as higher input and energy costs hurt its margins. The aluminum and copper producer’s board also approved a proposal to raise as much as 10 billion rupees ($124 million) through bonds, loans, debentures and other securities, it said …

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• 12 November

  Europe’s gas use slides 22% as households keep heating off

  

    Bloomberg Europe reined in its natural-gas consumption last month as households kept the heating off amid warm weather, providing some relief to a tight market ahead of winter. Governments across the region have been pleading with consumers to reduce their gas use after a slump in Russian supplies raised specter of rationing once the weather gets cold. A mild …

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