October, 2022

• 8 October

  Firms are ignoring financial risks of emissions, finds study

  

    Bloomberg Companies in industries with the biggest carbon footprints aren’t reporting how their emissions feed into financial risk, according to an analysis of corporate reports by the Carbon Tracker Initiative. The non-profit, which looked at 134 financial statements from last year in sectors spanning fossil fuels, mining, manufacturing, automotive and technology, found that almost all failed to consider the …

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• 8 October

  France to use power company windfalls to help struggling firms

  

    Bloomberg France plans to recoup part of windfall profits made by electricity producers to bolster aid to companies and local governments struggling to pay rising bills. The government will take any surplus made by power generators when they sell above 180 euros ($179) per megawatt-hour, as recently agreed at a European Union level, Finance Minister Bruno Le Maire said. …

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• 8 October

  BP ramps up offshore wind hiring

    Bloomberg BP Plc plans to triple its number of offshore wind-farm workers as it expands the business to reach its green goals. Scaling up wind power is key to the UK oil giant’s plans to produce more renewable energy in the coming years to hit net-zero emissions by the middle of the century. BP aims to next year reach …

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• 8 October

  M&S starts digital payment tool to help customers buy on credit

  

  Bloomberg Marks & Spencer Group Plc is starting to offer a digital credit account allowing customers to spend as much as £500 interest-free as shoppers battling the higher cost of living seek to postpone their payments. Sparks Pay is available to customers who have signed up to the M&S Sparks loyalty program and allows shoppers one-click purchases on the M&S …

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• 8 October

  Amazon plans to hire 150,000 seasonal staff

  

    Bloomberg Amazon.com Inc. plans to hire 150,000 seasonal workers, about the same as last year despite slowing sales growth and predictions of a lackluster holiday shopping season. The world’s largest online retailer typically hires legions of temporary workers this time of year to help store, pack and ship items from its warehouses. Employees can earn more than $19 an …

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• 8 October

  Cathay Pacific planning jet orders as Hong Kong airport expands

  

  Bloomberg Cathay Pacific Airways Ltd. is in talks with Boeing Co. and Airbus SE about expanding its fleet, seeking to bounce back from the Covid-19 pandemic as the opening of Hong Kong airport’s third runway swells capacity. The airline is exploring possibilities for adding both passenger aircraft and freighters, Chief Customer and Commercial Officer Ronald Lam said in an interview …

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• 8 October

  KLM urges Dutch hub to end flight cap early, plans fleet revamp

  

    Bloomberg The Dutch arm of Air France-KLM will press Amsterdam’s Schiphol Airport to drop a capacity cap in December rather than extend it through March as planned, Chief Executive Officer Marjan Rintel said. Schiphol needs to look at all options to address a labour shortage that prompted the curbs, including modifying a rostering system for security staff that’s efficient …

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• 8 October

  Superdry shares jump as UK fashion brand returns to profit

    Bloomberg Superdry Plc shares jumped as the UK fashion brand returned to profit after Covid-19 pandemic-induced losses. The retailer, known for its logo T-shirts and bright colours, reported adjusted profit before tax of £21.9 million ($24 million), compared with a £12.6 million loss a year earlier. The shares rise as much as 13% in London. The return to profit …

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• 8 October

  Britannia expands in Africa with Kenya deal

  Bloomberg India’s biggest cookie manufacturer, Britannia Industries Ltd., clinched a deal for operations in Kenya as part its plan to expand in Africa. The company teamed up with Nairobi-based Kenafric Industries to purchase Catalyst Capital-backed Britania Foods Ltd. in Kenya in a $20 million transaction that also involved acquiring property and a plant, Mikul Shah, a director at Kenafric, said …

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• 8 October

  World currency reserves fall by $1trn in record drawdown

  

    Bloomberg Global foreign-currency reserves are falling at the fastest pace on record, as central banks from India to the Czech Republic intervene to support their currencies. Reserves have declined by about $1 trillion, or 7.8%, this year to $12 trillion, the biggest drop since Bloomberg started to compile the data in 2003. Part of the decline — more than …

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