August, 2022

• 15 August

  Coal giants making mega profits as climate crisis grips the world

  

    ­­­Bloomberg The globe is in the grips of a climate crisis as temperatures soar and rivers run dry, and yet it’s never been a better time to make money by digging up coal. The energy-market shockwaves from Russia’s invasion of Ukraine mean the world is only getting more dependent on the most-polluting fuel. And as demand expands and prices …

  Read More »
• 15 August

  Norway moves to limit power exports in blow to Europe

  

  Bloomberg Norway is gearing up to limit power exports, an early sign of the tests Europe’s cross-border solidarity will face this winter as the energy crunch deepens. Refilling reservoirs will be prioritised over power production when levels fall below seasonal averages, Energy Minister Terje Aasland said Monday. The country is one of Europe’s top exporters of electricity, sending about a …

  Read More »
• 15 August

  Norse Air bets on London-NY boom surviving slowdown

  

    Bloomberg Startup airline Norse Atlantic ASA, which begins UK-New York flights, said it will rely on strict cost control and the strength of Europe-US travel to endure headwinds from spiraling inflation and slowing economies. The discount carrier, which operates Boeing Co. 787 jets from the failed trans-Atlantic arm of Norwegian Air Shuttle ASA, is starting off slow with a …

  Read More »
• 15 August

  Outdoor Voices mulls putting itself up for sale

  

    Bloomberg Activewear brand Outdoor Voices Inc is exploring options including a potential sale. The closely held company is working with an adviser to study possibilities that also include raising new financing, said the people, who asked to not be identified discussing private information. Deliberations are at early stage and Outdoor Voices could decide against a transaction, the people said. …

  Read More »
• 15 August

  Flying taxi firm expands defense department deal to $75 million

  

    Bloomberg Joby Aviation Inc., the electric aircraft company working on flying taxis, has increased the size of its contract with the US Defense Department to as much as $75 million. The company plans to announce the new agreement. The California-based company makes electric-powered, vertical takeoff and landing vehicles, or eVTOLs. Its Defense Department deal, which runs through 2025, more …

  Read More »
• 15 August

  Late-night egg attack shows traveller fury at Qantas CEO

  

  Bloomberg The black and white security camera footage is clear enough to make out a hooded figure on a tree-lined Sydney street. The person is energetically hurling — almost like a baseball pitcher — something at a house just before 2 am on July 12. Daylight reveals that the A$19 million ($13 million) harborside home of Qantas Airways Ltd. Chief …

  Read More »
• 15 August

  Wendy’s sales, margins fall short in Q2 amid inflation

    Bloomberg Wendy’s Co became the latest restaurant chain to show signs of strain thanks to rising inflation, as second-quarter sales and restaurant margin fell short of Wall Street projections. Evidence of the inflation pressure on Wendy’s was twofold. First, it showed up in US same-store sales, which rose just 2.3% in the quarter ended July 3, the company said …

  Read More »
• 14 August

  US consumer sentiment rises in August

    Bloomberg US consumer sentiment rises in early August to a three-month high on firmer expectations about economy and personal finances. Inflation expectations were mixed, with consumers boosting their longer-term views for prices slightly, while reducing their year-ahead outlook for costs. The University of Michigan’s preliminary sentiment index rose to 55.1 from 51.5 in July, data showed. Consumers expect prices …

  Read More »
• 14 August

  Mastercard faces backlash over instalment payments

  

    Bloomberg Mastercard Inc is facing pushback from retailers over a new product that allows customers to pay off their purchases in installments. The payments giant has begun telling merchants and their banks that it will charge retailers 3% of a purchase price each time a consumer opts to use the new program, according to people familiar with the matter. …

  Read More »
• 14 August

  Battered dollar has scope for a rally to new highs as risks swirl

  

    Bloomberg The dollar’s best days might still be ahead of it. While the greenback has tumbled as riskier assets have rebounded and demand for havens has ebbed, there’s potential for renewed political and economic risks to rekindle its strength. Add to that a dire outlook for Europe and prospects for even more policy tightening by the Federal Reserve, and …

  Read More »