August, 2022

• 17 August

  Germany seals deal with Uniper, RWE on floating LNG terminals

  

    ­­­Bloomberg The German government struck a deal with energy companies to import liquefied natural gas through two new terminals in an effort to alleviate a supply crunch that’s crippling the economy. Economy Minister Robert Habeck signed a memorandum of understanding with Uniper SE and RWE Supply & Trading GmbH, which will operate the floating terminals in Brunsbuettel and Wilhelmshaven, ...

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• 17 August

  British Airways staff back pay deal, amounting to 13% raise

  

  Bloomberg British Airways check-in staff approved a pay settlement that their union said amounts to a 13% raise, while Uber Technologies Inc agreed to raise fares in the UK to boost earnings for its drivers. BA employees “overwhelmingly backed” the settlement, the Unite union said, after announcing last month that an agreement had been reached to avert strikes at the ...

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• 17 August

  Malaysia Airlines orders 20 Airbus A330neo jets

  

    Bloomberg Malaysia Airlines said it will acquire 20 Airbus SE A330neo wide-body planes as it seeks more fuel-efficient jets amid a travel rebound. The Southeast Asian carrier will purchase 10 A330-900 aircraft, with the rest coming from lessor Avolon Holdings Ltd existing order book, it said in a statement. The model is a re-engined version of the original A330 ...

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• 17 August

  Chinese airlines likely to follow multibillion-dollar US exit plan

  

  Bloomberg The decision by five Chinese state-owned companies to leave US stock exchanges adds to skepticism that authorities in both countries can reach an agreement on disclosure rules, with analysts seeing state-controlled airlines as the next potential group to depart, possibly followed by internet giants. China and Hong Kong are the only jurisdictions worldwide that don’t allow inspections by the ...

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• 17 August

  China Ikea shoppers panic as store locked down on Covid risk

  

  Bloomberg Scenes of mayhem unfolded in an Ikea in Shanghai as health authorities tried to lock down the store and quarantine those on site after learning someone who had been in contact with a Covid-19 patient had visited. News of the flash shutdown sent shoppers fleeing and screaming in an effort to get out of the building before the doors ...

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• 17 August

  Business travel not to hit pre-Covid level until 2026

    Bloomberg The recovery of global business-travel spending to the pre-pandemic level of $1.4 trillion has been pushed out 18 months to mid-2026 by inflation, economic slowing and high energy prices, the Global Business Travel Association is forecasting. The return to the 2019 level also is being slowed by supply-chain disruptions, labour shortages, lockdowns in China and the effects of ...

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• 17 August

  Paramount jumps after Walmart deal

    Bloomberg Paramount Global reached a deal with Walmart Inc to offer its streaming service to subscribers of the retail giant’s membership program. Under the agreement, Walmart+ members will have access to the Paramount+ Essential plan, an ad-supported version of the streaming service, at no additional cost, according to a statement. The offering may bolster Walmart’s appeal as it tries ...

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• 16 August

  US index futures fall, dollar up amid caution over economy

  

    Bloomberg US stock-index futures slipped and the dollar rises as investors fretted over signs of a sharp economic slowdown even as the Federal Reserve stays on the path of monetary tightening. September contracts on the S&P 500 and Nasdaq 100 indexes dropped 0.2% each after the equity benchmarks advanced. Crude oil retreated amid economic headwinds that clouded the demand ...

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• 16 August

  Indian billionaire’s $4b of stock holdings in focus after death

  

  Bloomberg The death of Indian billionaire Rakesh Jhunjhunwala puts a spotlight on the nearly $4 billion worth of stocks held by the famed investor, whose trades were closely followed. The man known as India’s Warren Buffett died of a reported cardiac arrest at the age of 62. The self-made trader invested in a wide swathe of established businesses and startups, ...

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• 16 August

  Agthia carries out acquisitions worth AED2.3 billion in 2021

  

    Abu Dhabi / WAM Alan Smith, CEO of the Agthia group, said that the total value of the acquisitions carried out by the group last year exceeded AED2.3 billion, adding that the group is working on a new acquisition in Egypt, in addition to expanding in Saudi Arabia. In an interview with the Emirates News Agency (WAM), Smith said ...

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