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Tanzania will sign key agreements with oil majors including Equinor ASA and Shell Plc next month to pave the way for a planned $40 billion liquefied natural gas export project, according to the nation’s Energy Minister January Makamba. “It’s happening,†January Makamba said in an interview in Sharm el-Sheikh, Egypt, where he is attending the COP27 international climate summit. “In …
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November, 2022
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9 November
Germany to spend $83.4bn on gas, electricity subsidies in 2023
German Finance Minister Christian Lindner has laid out plans for the country to spend €83.3 billion ($83.4 billion) on gas and electricity subsidies next year, according to a ministry document obtained by Bloomberg. It shows €40.3 billion will be earmarked to cover the cost of gas and district heating, including a one-time payment in December for businesses and households. A …
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8 November
RBNZ’s Orr reappointed for second five-year term
New Zealand central bank governor Adrian Orr has been reappointed for a second five-year term, giving him the opportunity to complete an aggressive tightening cycle as the bank seeks to regain control of inflation. Finance Minister Grant Robertson reappointed Orr after a “unanimous recommendation†from the Reserve Bank Board, Robertson said on Tuesday in Wellington. Orr’s second term begins on …
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8 November
Citigroup bumps up holiday allowance for new UK staff
Citigroup Inc is increasing holiday allowances for UK staff, the latest bid by a bank to improve its working culture. From January, new employees will get 27 days of annual leave, increasing to 28 after two years and 29 after five years, Kathryn Skelton, head of human resources in the UK, said in an internal memo seen by Bloomberg. Previously …
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8 November
Kotak to recruit 20 investment bankers in bet on M&A recovery
Kotak Mahindra Bank Ltd.’s investing banking arm is planning to expand its operation by hiring about 20 bankers, betting on a rebound in deals activity next year. The addition would mean a 25% increase to its current 80-strong investment banking unit, according to S Ramesh, managing director and chief executive officer of Kotak Investment Banking. The firm is looking to …
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8 November
PayPal, Apple to accept each other’s products
PayPal Holdings Inc. announced it has reached a truce with Apple Inc. and the two technology giants will begin accepting each other’s products in their separate payment ecosystems. Starting next year, PayPal and Venmo debit cards will be accepted inside the Apple Wallet, meaning consumers will be able to use them anywhere Apple Pay is accepted, PayPal said in a …
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8 November
UBS expands into ‘Brazilian Texas’
UBS Group AG is branching out into rural Brazil to find millionaires created by rapid growth in the agribusiness and tech industries. The Swiss bank plans to open a wealth-management office in the midwestern city of Goiania, the capital of what’s known as Brazilian Texas because of its similarities to the farm-rich US state. Another will open this month in …
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8 November
McDonald’s China lines up $2 billion in bank loans
The operator of McDonald’s restaurants in China has raised about $2 billion in bank loans to free up liquidity that will help operate the business, according to people familiar with the matter, as the country maintains its zero-tolerance approach to fighting Covid-19. Chinese state-backed Citic Ltd., Citic Capital and US private equity firm Carlyle Group Inc. acquired control of the …
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7 November
Amazon freezes hiring in advertising business
Amazon.com Inc. is freezing staffing levels in its profitable advertising business, according to a person familiar with the matter, showing that the world’s largest e-commerce company is taking more drastic measures to align expenses with slowing sales. The headcount freeze was announced internally, said the person, who asked not to be identified because the plans are private. Amazon will continue …
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7 November
Boeing’s 737 deliveries dip in October on new fuselage flaw
Boeing Co. only delivered 27 of its cash-cow 737 jetliners last month as its quality inspectors found and fixed a flaw in some of the narrowbody jet’s frames, Stan Deal, the planemaker’s commercial chief, told investors. That’s a dip from the 37 narrowbodies that Boeing handed over in September. While the planemaker isn’t expected to reveal its full monthly deliveries …
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