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

  Nancy Pelosi visits Taiwan, defying Chinese warnings

  

  Bloomberg US House Speaker Nancy Pelosi became the highest-ranking American politician to visit Taiwan in 25 years, prompting China to announce military drills encircling the island. Pelosi greeted Taiwanese officials including Foreign Minister Joseph Wu on the tarmac, where she posed for photos. In a statement, she said her visit “in no way contradicts longstanding United States policy” and that ...

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• 3 August

  Putin, Erdogan to discuss Ukraine, grain on Friday, Kremlin says

  

  Bloomberg Russian President Vladimir Putin will meet Turkish leader Recep Tayyip Erdogan for talks Friday including on a deal reached to unblock exports of grain from Ukraine, the Kremlin said. The meeting in Russia’s Black Sea resort of Sochi will be “a good opportunity to synchronize watches on the subject of the effectiveness of this mechanism for exporting grain from ...

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• 3 August

  Truss eyes billions by cutting civil service ‘waste’

  

  Bloomberg Liz Truss vowed to slash “waste, bureaucracy and inefficiency” in the civil service to save billions of pounds a year for the British taxpayer if she becomes UK prime minister. The foreign secretary, the front-runner in the race with Rishi Sunak to succeed Boris Johnson, said that she’ll align the pay of public sector workers to living costs in ...

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• 3 August

  Hong Kong’s Lee least popular new leader in decade, poll says

    Bloomberg Hong Kong’s John Lee drew the lowest approval rating in a decade for a new chief executive, underscoring the challenges he’ll face winning over a city that’s facing some of the world’s strictest Covid restrictions. The percentage of people expressing confidence in Lee, who took over as Hong Kong’s fifth chief executive last month, was 45%, according to ...

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