October, 2022

• 22 October

  BP to acquire US biogas producer

    Bloomberg BP Plc agreed to acquire biogas producer Archaea Energy Inc. for about $4.1 billion including debt, the latest step in the UK energy giant’s expansion into into lower-carbon fuels. BP will pay $26 per share, a 38% premium to the average share price in the 30 days to Oct. 14, Archaea said in a statement. The Houston-based company, ...

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• 22 October

  Indonesia eyes sugarcane-mixed biofuel to cut emission

  

    Bloomberg Indonesia plans to sell biofuels made from a blend of sugarcane extract and oil from next year as the world’s largest exporter of dirty coal seeks to reduce emission and curb fuel imports. State-owned oil and gas firm PT Pertamina Persero will begin selling A20 fuel, which is a mix of 80% gasoline, 15% methanol derived from natural ...

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• 22 October

  Air India plans to triple its fleet of 113 jets in five years

  

  Bloomberg Air India Ltd is planning to triple its fleet of 113 aircraft over five years as the money-losing carrier prepares to transform the business following its takeover by India’s largest conglomerate, the Tata group. “The airline is in discussions with aircraft and engine manufacturers on procuring new aircraft,” Air India Chief Executive Campbell Wilson said in New Delhi. “I ...

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• 22 October

  Branson says first UK space launch on course for next month

  

    Bloomberg Britain’s first-ever space launch is on track to take place before the end of November, according to billionaire entrepreneur Richard Branson, whose Virgin Orbit Holdings Inc. will undertake the mission. “We plan to launch our first satellite into space from European soil within six weeks,” Branson said at a press conference in Milan. “We are pretty much ready.” ...

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• 22 October

  Airbus targets US with its smallest A220 business jet

    Bloomberg Airbus SE is targeting the US with its smallest A220 business jet in a bid to make up for Russian sales lost after the invasion of Ukraine. The European planemaker will put extra resources into promoting the A220 when the corporate version, or ACJ, enters service in the first half of next year, betting that the aircraft is ...

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• 22 October

  Amsterdam’s Schiphol Airport to limit passenger flow until April

  

    Bloomberg Amsterdam’s Schiphol Airport is further limiting passenger numbers until the end of March as it continues to struggle with staff shortages. The Dutch arm of Air France-KLM said the newly announced caps will mean a reduction of as much as 22% for the winter season and the period up until March. The airport operator had already reduced the ...

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• 22 October

  UK consumers rein in luxury spending

    Bloomberg British consumers are reining in unnecessary purchases after a leap in energy prices ate into their discretionary spending, forcing people to cut back on new clothes, evenings out and lunches out. Barclaycard, which manages about half of the nation’s credit and debit card transactions, said outlays on non-essential items in rose 1% from a year ago in September, ...

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• 22 October

  J&J sales grow, but strong dollar tugs at expectations

  

    Bloomberg Johnson & Johnson (J&J) reported third-quarter earnings that beat analyst estimates as revenue grew in its drugs and medical-device businesses despite pressure from the stronger dollar. The diversified health-care company, which is in the process of separating out its consumer division, reported sales results that were roughly in line with Wall Street’s estimates for the pharmaceutical and medical-device ...

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• 22 October

  A $58.6bn jump in mortgage costs fuels risk for UK lenders

  

    Bloomberg A surge in bad loans awaits UK banks as higher interest rates saddle homeowners with an estimated £52 billion ($58.6 billion) of added mortgage payments over the next three years, an analyst warned as he downgraded his ratings on several lenders. The jump in costs will help push the personal debt service burden towards about 10% of post-tax ...

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• 22 October

  Bank of Japan announces unscheduled bond buying

  

  Bloomberg Japan’s benchmark yield climbed above the central bank’s policy ceiling and monetary authorities announced unscheduled bond purchases to rein it back in. The yield on the 10-year note briefly rises 0.5 basis points to 0.255% as the Bank of Japan (BOJ) held the first unscheduled bond buying operation this month. Global yields have continued to march higher as traders ...

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