May, 2022

• 29 May

  Google hit with fresh UK probe over ad tech dominance

  

  Bloomberg The UK’s antitrust watchdog started a new investigation of Alphabet Inc’s Google, over suspicions it may have abused its dominant position across its ad tech that goes to the heart of the tech giant’s business model. The move by the Competition and Markets Authority (CMA) opens a fresh front in its regulatory tussle with Google. The CMA said it …

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• 29 May

  Dell sales rise on strong office PC growth

    Bloomberg Dell Technologies Inc surged the most in two years after reporting quarterly revenue that topped analysts estimates on strong demand for business PCs and networking services, a sign that companies have been upgrading their systems as workers return to the office. The shares jumped 13% to $49.58 in New York, the largest single-day rally since March 2020. Dell’s …

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• 28 May

  Duke Energy wants to quit coal, but regulators say ‘no’

  

    Bloomberg Duke Energy Corp planned to close its last six coal power plants in the Carolinas by 2030 to accelerate the company’s carbon-cutting goals. South Carolina regulators said no—ordering the US utility to keep the plants open longer. The decision sets up a showdown as Duke Energy appeals a regulatory response that threatens the company’s preferred plan to speed …

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• 28 May

  Top LNG importer says ‘future lies in hydrogen’

  

    Bloomberg Korea Gas Corp, one of the world’s biggest liquefied natural gas importers, expects to win benefits from its current business as it shifts to a future focused on hydrogen. “We’ll completely transform our LNG-driven operations into hydrogen by 2050 in line with South Korea’s carbon neutrality target,” Lee Jae Hoon, a general manager of the company’s hydrogen business …

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• 28 May

  South Africa registers two solar projects to cut red tape

  

    Bloomberg South Africa registered two solar projects as part of a process designed to cut red tape and help increase the pace of private generation in a nation that’s headed for a record year of power cuts. The National Energy Regulator of South Africa approved the projects, the biggest since President Cyril Ramaphosa removed the need for seeking licenses …

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• 28 May

  Total to buy stake in Clearway Energy

  

    Bloomberg TotalEnergies SE said it will acquire a stake in a large US renewables developer, another move by the European energy giant to expand its footprint in the American power sector. The French firm agreed to buy a 50% stake in Clearway Energy Group from Global Infrastructure Partners for $1.6 billion in cash, it said in a statement. GIP …

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• 28 May

  Gas heads for weekly loss in Europe as Russia supply fears wane

  

    Bloomberg European natural gas prices headed for a third straight weekly decline as fears over further disruptions to Russian supplies waned. Benchmark futures fell as much as 4.3%, hitting the lowest level since the start of the war in Ukraine. Russian shipments are expected to remain stable, even as flows through one cross-border point in Ukraine remain cut off …

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• 28 May

  Delta Air Lines slashes flights to ‘relieve pressure’ on operations

  

  Bloomberg Delta Air Lines Inc is cutting flights just ahead of the busy Memorial Day weekend and through the summer to help it recover faster from bad weather, higher-than-expected worker absences and other issues that have rattled recent operations. The airline said it will trim about 100 flights a day in the US and Latin America from July 1 through …

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• 28 May

  Alibaba surges as sales beats boost sentiment

  

  Bloomberg Alibaba Group Holding Ltd soared after reporting revenue rose a better-than-expected 9%, reassuring investors trying to come to grips with the economic cost of sweeping lockdowns intended to eradicate Covid-19. The shares rose more than 12% in Hong Kong after the company reported revenue climbed to 204.05 billion yuan ($30.3 billion) in the March quarter, beating analysts’ projections. Chief …

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• 28 May

  Australia retail sales power ahead in sign of economic strength

    Bloomberg Australian retailers recorded a fourth consecutive month of sales gains, suggesting cashed-up households are so far weathering a spike in the cost of living from surging fuel and other prices. Sales advanced 0.9% in April to a fresh record $24.1 billion and just shy of economists’ estimates for a 1% increase, Australian Bureau of Statistics data showed. “Cost …

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