July, 2022

• 17 July

  Hyundai takes on Tesla, unveils its first electric sedan

  

    Bloomberg Hyundai Motor Co unveiled a sedan version of its cult electric vehicle, with an interior that can beam different colours depending on the speed of the car, as the automaker continues its ambitious EV push with an eye on challenging rivals such as Tesla Inc. and General Motors Co. The Ioniq 6 can travel up to 610 kilometers …

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• 17 July

  Facebook to allow up to five profiles tied to one account

  

  Bloomberg Meta Platforms Inc will start letting more users create multiple profiles with their Facebook accounts, the company’s latest attempt to encourage posting and sharing on its social network. As part of a test, certain Facebook members will be able to create as many as four additional profiles, and each one won’t need to include a person’s real name or …

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• 17 July

  Toyota set to release iconic ‘crown’ cars in 40 countries

  

    Bloomberg The Toyota Crown, a car known for ferrying around Japan’s corporate and political elite, is set for the global stage from next year with plans to release versions in 40 countries and regions. Toyota Motor Corp is betting the move will breathe new life into the historic yet largely niche brand, which has almost exclusively been sold in …

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• 17 July

  TikTok names new head of security

    Bloomberg TikTok named a new head of security as the popular video app has come under increasing scrutiny from congress and other US officials over concerns that user data could wind up in China. Kim Albarella was appointed to serve as interim head of TikTok’s Global Security Organization, the company said in a statement. She will oversee the transition …

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• 16 July

  Big oil’s influx of cash opens door to clean-energy deals

  

  Bloomberg Europe’s oil and gas giants, flush with cash from soaring prices, are considering whether to turbo-charge their transition to clean energy with multibillion-dollar acquisitions of major renewable energy producers. Shell Plc, TotalEnergies SE and Equinor ASA are among the companies that have evaluated the suitability of European utilities for takeovers. Potential targets include some of the region’s largest wind …

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• 16 July

  Russia planning to create oil benchmark to foil price cap

  

  Bloomberg Russia’s government has made a plan to create a national oil benchmark next year, as it seeks to protect itself from efforts by the West to restrict the flow of petrodollars to the country. Key ministries, domestic oil producers and the central bank plan to launch oil trading on a national platform in October, according to a document seen …

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• 16 July

  EU backs $14bn hydrogen project to help cut carbon

  

  Bloomberg The European Union (EU) took a step towards accelerating its deployment of hydrogen across the bloc, by approving a 15-nation project to help produce the fuel seen as critical to decarbonising heavy industry. The EU’s executive gave the green light under state aid rules to an “Important Project of Common European Interest” that will help unlock around $9 billion …

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• 16 July

  China may end Australia coal ban

    Bloomberg Chinese bureaucrats studying the energy outlook are proposing to end a near two-year ban on Australian coal as tensions begin to ease and on concerns supply may tighten when Western-led sanctions on Russian energy kick in. The proposal will be submitted to senior leaders, with a recommendation Beijing should resume Australian imports. That’s been prompted by fears European-led …

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• 16 July

  Energy crisis may spur S Africa to allow more private power

  

  Bloomberg South Africa is considering more than doubling the amount private power producers can generate without requiring a license in a bid to reduce blackouts that are hobbling the economy. President Cyril Ramaphosa is racing to make an announcement as soon as Sunday, the people said, asking not to be identified as the matter isn’t public. South Africa last year …

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• 16 July

  PetroChina H1 profit rises by 50%

  

    Bloomberg China’s biggest oil company said its first-half profits jumped 50% to 60% from a year ago amid a surge in global energy prices. PetroChina Co.’s preliminary net income rose between 26.5 billion to 32 billion yuan ($3.9 billion to $4.7 billion) from last year, it said in an exchange filing. The company earned 53 billion yuan in the …

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