September, 2022

• 24 September

  Starwood, EnergyRe launch green real estate venture

    Bloomberg Private investment firm Starwood Capital Group and an affiliate of developer Related Companies have teamed up to start a venture that will sell clean energy products to big real estate owners. Radial Power will install solar panels, battery storage and electric vehicle charging stations to help large property owners hit their climate and clean energy goals, according to ...

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• 24 September

  India may boost coal power fleet 25% by 2030 amid rising demand

  

    Bloomberg India plans to expand its coal power fleet by about a quarter through the end of the decade as it continues to lean on the fuel to meet growing demand until energy storage costs fall. The world’s third-biggest emitter of greenhouse gases will add nearly 56 gigawatts of coal power capacity unless there’s a substantial drop in the ...

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• 24 September

  UK’s windfall tax on oil, gas firms to top $30.9b

    Bloomberg The UK expects to raise more than £28 billion ($30.9 billion) in the coming years from a windfall tax on oil and gas firms. The revenue will go toward offsetting the huge costs of subsidizing energy bills amid a cost-of-living crisis driven by soaring gas and power prices. The forecast was released as part of Chancellor of the ...

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• 24 September

  UK government to relax planning rules for onshore wind

  

  Bloomberg The UK government will relax planning rules for onshore wind to allow projects to be deployed more easily, marking a significant policy shift. Britain vowed to speed up the planning process for energy infrastructure including offshore wind farms and new oil and gas fields in Chancellor Kwasi Kwarteng’s mini-budget. Onshore wind was effectively banned in 2016, but developers were ...

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• 24 September

  Does Italian politics often stay in Italy? Maybe not

  

  What happens in Italian politics doesn’t often stay in Italy. From Fascism to Nazism; from Berlusconi to Trump; from the rabble-rousing Five Star Movement to the disruption wrought by social media, Italy has often served as a political laboratory for liberal democracies. So, would a victory in Sunday’s election by the far-right Brothers of Italy and its leader Giorgia Meloni ...

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• 24 September

  FedEx’s pricing power isn’t working!

  

  After carving a fifth off the market value of FedEx Corp when it withdrew its annual forecast and announced preliminary results that fell well short of expectations, investors were in a more forgiving mood for the full quarterly report. They mildly welcomed FedEx’s effort to chop as much as $2.7 billion of costs over the next 12 months to offset ...

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• 24 September

  Wartime economy of Europe will last for now

    The European “way of life” has always been a vague concept, but — after Covid-19 — it chimed with a new generation looking for la dolce vita. Citigroup Inc is one unlikely poster child. At its new office in Malaga, Spain, junior bankers can expect to be paid half the salary of their London peers — $100,000, reportedly — ...

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• 24 September

  The way to police Big Tech is through US states

    California governor Gavin Newsom signed a landmark bill into law, forcing large internet companies like Facebook to make their sites safer for children. Aside from sparking irritation in tech circles, it has put a spotlight on an area where states are making greater headway than Congress: passing laws to regulate the free-wheeling dominance of Big Tech firms. Rallying against ...

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• 24 September

  Hong Kong airfares soar as quarantine ends

  

    Bloomberg Travellers looking to leave Hong Kong after two-and-a-half years of Covid isolation face the prospect of paying sky-high airfares after the government said it will scrap hotel quarantine on September 26. Weeks after Cathay Pacific Airways Ltd, bruised by the city’s strict pandemic strategy, pleaded publicly for a roadmap to exit Covid, the Asian financial hub’s about-turn on ...

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• 24 September

  Boeing to pay $200m to settle SEC investigation over 737 Max

  

    Bloomberg Boeing Co agreed to pay $200 million to settle Securities and Exchange Commission (SEC) allegations that the company and its former CEO Dennis Muilenburg failed to disclose safety issues with its 737 Max jetliner, resolving one of the final US investigations related to two crashes that killed 346 people. The settlement, announced by the SEC, concludes a probe ...

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