August, 2022

• 3 August

  PepsiCo to pay $550m for 8.5% stake in Celsius

  

    Bloomberg PepsiCo Inc will pay $550 million for a stake in fitness-energy drink maker Celsius Holdings Inc as part of a long-term strategic distribution agreement. PepsiCo is getting convertible preferred stock equating to 8.5% ownership in Celsius, the companies said in a statement. The soft drink giant will become the preferred distribution partner globally for Celsius and will also ...

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• 3 August

  Amazon says its carbon footprint grew 18% in ‘21

  

  Bloomberg Amazon.com Inc said its carbon footprint grew 18% in 2021, as the company’s rapid growth during the pandemic overwhelmed nascent efforts to cut its contribution to the emissions warming the planet. The world’s largest online retailer emitted 71.54 million metric tons of carbon-dioxide equivalent last year, Amazon disclosed in an updated edition of its sustainability report. That’s up about ...

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• 3 August

  Boeing supplier sees 787 rate accelerating as output restarts

  

    Bloomberg Boeing Co will most likely lift build rates for its 787 widebody beyond the currently targeted five a month sometime in the future, according to the UK company that makes air ducts and structural parts for the jet. Senior Plc Chief Executive Officer David Squires said the higher pace of output for the Dreamliner seems probable once handovers ...

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• 3 August

  Skyports wins funding from ST Engineering

  

    Bloomberg Skyports Ltd, which builds takeoff and landing sites for flying taxis, drew investment from Singapore Technologies Engineering Ltd amid plans for a terminal in the city for airborne electric cabs. Aerospace company ST Engineering is the final investor in a Series B capital raise and takes the latest round of fundraising to $26.1 million, Skyports said. The first ...

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• 3 August

  British Airways stops ticket sales on some Heathrow flights

  

  Bloomberg British Airways halted ticket sales on some short-haul services out of London Heathrow airport through next Monday to make room for passengers who’ve had their flights scrapped amid capacity caps at the hub. The unit of IAG SA said the move follows Heathrow’s request for carriers to limit new bookings after introducing a limit of 100,000 daily departing customers ...

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• 3 August

  Germany’s retail sales plunge most since 1980

    Bloomberg German retail sales plummeted in June as consumers cut spending on non-essential goods to cope with record inflation. Sales were down 9.8% from the previous year, the most since 1980 — before the country’s reunification. Non-food items such as furniture and household appliances or clothing and shoes registered even steeper declines. The data add to an already strained ...

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• 3 August

  China banks may face $350b in losses from property crisis

  

    Bloomberg China’s banks face mortgage losses of $350 billion in a worst-case scenario as confidence plunges in the nation’s property market and authorities struggle to contain deepening turmoil. A spiralling crisis of stalled projects has dented the confidence of hundreds of thousands of homebuyers, triggering a mortgage boycott across more than 90 cities and warnings of broader systemic risks. ...

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• 3 August

  Bank of England set for biggest interest rate rise in 27 years

  

  Bloomberg The Bank of England (BOE) this week is expected to push through the biggest interest-rate increase in 27 years and unveil its strategy for unwinding some of the £895 billion ($1.1 trillion) of stimulus it delivered over the past decade. The measures would accelerate a historic tightening of monetary policy to choke off the worst bout of inflation in ...

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• 3 August

  EU banks get $3.8 billion boost from end of negative rates era

  

    Bloomberg Banks’ core business of lending has finally turned more profitable again, as the era of negative interest rates in the euro area comes to an end. The EU’s five biggest banks that have reported results so far showed an increase in net interest income of 3.74 billion euros ($3.82 billion) on the same quarter last year, a jump ...

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• 3 August

  HSBC makes cost of living payment to UK employees

  

    Bloomberg HSBC Holdings’s UK arm is the latest bank to help staff cope with the rising cost of living by making an extra one-time payment. Lower-paid employees will receive the £1,500 ($1,836) boost in their August paychecks, according to an internal memo seen by Bloomberg News. All five of the UK’s largest retail banks have now pledged to pay ...

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