October, 2022

• 23 October

  Boeing Max crash passengers’ families ruled crime victims

  

  Families of passengers killed in two crashes of Boeing 737 Max jets were deemed by a federal judge to be official crime victims entitled to consultation before the US Justice Department cuts any deals with the maker of the flawed aircraft. US District Judge Reed O’Connor in Texas said in a ruling he will now determine what remedies the families ...

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• 23 October

  Electric planes in Australia seen halving flight costs

  

  Regional Australian airline Rex said operating costs on short flights will drop as much as 50% with the introduction of electric- and hydrogen-powered aircraft in coming years. Rex plans to start trials in early 2024 using King Air 200 planes, retrofitted with the new power trains, before later tests with Saab 340 aircraft, Deputy Chairman John Sharp said at a ...

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• 23 October

  UK retail sales fall more than expected after Queen’s death

  

  UK retail sales fall more than expected last month after the death of Queen Elizabeth II curtailed activity and cost-of-living pressures hit harder. The volume of goods sold in shops and online dropped 1.4% in September after a revised 1.7% decline the month before, data from the Office for National Statistics (ONS) showed. Economists had expected an 0.5% drop. Sales volumes ...

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• 23 October

  TikTok deal likely to leave US data leaking to China

  TikTok users would still risk having personal data exposed to hacking and espionage by China even if the Biden administration forges a security agreement designed to spare the video platform from a total US ban. That’s the conclusion of former national security officials and other experts as the Justice Department reviews an accord that would keep the popular video-streaming app, ...

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• 23 October

  Intel reduces Mobileye IPO valuation again to $16 billion

  

  Mobileye Global Inc, the self-driving technology company owned by Intel Corp, is targeting a valuation of about $16 billion in a public offering, far below its previous target amid a rocky year for new listings. Intel had lowered its expected valuation of Mobileye to $30 billion due to turbulent market conditions, Bloomberg News reported last month. The company plans to ...

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• 23 October

  Mercedes unveils new electric SUV aimed at Tesla’s Model Y

  

  Mercedes-Benz Group AG is broadening its battery-powered line-up with a sport utility vehicle (SUV) that will take on Tesla Inc.’s Model Y in another step towards the automaker’s goal to go all-electric by the end of the decade. The EQE SUV, unveiled on the eve of the Paris car show, will edge out the cheaper Model Y with 590 kilometers ...

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• 22 October

  Europe racks up $700 billion energy tab as budgets strain

  

  Bloomberg European Union (EU) governments have pledged more than 550 billion euros ($536 billion) to protect citizens and businesses from soaring energy costs over the past year, highlighting the enormous fiscal burden the bloc’s leaders face as they jostle over how to pay for it. That figure climbs to 710 billion euros when support for utilities via loans, bailouts and ...

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• 22 October

  Enel in talks on $15.8 billion credit line for power price hit

  

    Bloomberg Italy’s Enel SpA is in talks with banks on a new €16 billion ($15.8 billion) state-backed credit line to cover derivatives risks linked to spiking energy prices, according to people familiar with the matter. Under the plan, the country’s trade-credit insurer Sace would provide guarantees for around 70% of the total amount, said the people, asking not to ...

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• 22 October

  Germany risks wasting billions on LNG projects

  

    Bloomberg Germany is at risk of wasting billions of euros on boosting liquefied natural gas imports instead of moving towards sustainable alternatives like energy efficiency, according to a new report. The country faces about 200 billion euros ($196 billion) of additional costs for gas imports by the end of the decade, causing a doubling of bills for consumers, the ...

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• 22 October

  Chinese city plans offshore wind farm that could power Norway

    Bloomberg A city in southern China is planning an offshore wind farm bigger than all of the power plants in Norway combined. Chaozhou, in Guangdong province, intends to start work on the 43.3-gigawatt project before 2025, according to a copy of the city’s five-year plan posted on industry publication bjx.com. The wind farm will be built between 75 and ...

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