May, 2022

• 16 May

  Dollar’s strength stoking financial-market volatility

  

    Bloomberg The soaring dollar is propelling the global economy deeper into a synchronised slowdown by driving up borrowing costs and stoking financial-market volatility — and there’s little respite on the horizon. A closely watched gauge of the greenback rises 7% since January to a two-year high as the Federal Reserve embarks on an aggressive series of interest-rate increases to …

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• 16 May

  Smelting giant Korea Zinc to invest $6.6b in green power

  

    Bloomberg After nearly half a century expanding its bread-and-butter business into one of the world’s largest metal smelting operations, Korea Zinc Co is setting its sights on renewable energy to cut costs and drive growth. The Seoul-headquartered zinc, gold, silver and lead smelter plans to invest $6.6 billion over the next eight years developing solar and wind power generation …

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• 16 May

  EU mulls gas price cap in Russian supply row

  

    Bloomberg The European Union could cap natural-gas prices to avoid “unbearably high” costs if Russia, the region’s biggest supplier, significantly limits or cuts off the flow. The European Commission is mapping out energy-market intervention measures as part of a package to replace Russian gas imports after the invasion of Ukraine. It is set to recommend agreeing on common principles …

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• 16 May

  Fortum plans ‘controlled exit’ from Russia through sales

  

    Bloomberg Finland’s Fortum Oyj plans to leave Russia by selling assets as policy makers pushed for the state-owned utility to exit because of the war in Ukraine. “We have decided to pursue a controlled exit from the Russian market,” Chief Executive Officer Markus Rauramo said in a statement. “As the preferred path, this decision includes a potential divestment of …

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• 16 May

  Chile copper mines dodge radical changes

    Bloomberg Major copper producers from BHP to Freeport-McMoRan will likely avoid drastic changes in the way they do business in Chile as writers of a new constitution wrapped up deliberations on mining proposals. In a vote on the Constitutional Convention floor, a plan to replace the nation’s investor-friendly concession model with a system of temporary and revocable permits fell …

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• 16 May

  Climate change fuels more intense global wildfires

  

  Bloomberg Already, 2022 is taking its place in a pantheon of years that have seen the nature of fire change — and all parts of the world fall under threat. It’s only expected to get worse, with drought and heat waves looming over the horizon for many parts of the globe. At the epicenter of the fury will be the …

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• 15 May

  Apple is testing a switch to USB-C for future iPhones

  

  Bloomberg Apple Inc is testing future iPhone models that replace the current Lightning charging port with the more prevalent USB-C connector, according to people with knowledge of the situation, a move that could help the company conform with looming European regulations. In addition to testing models with a USB-C port in recent months, Apple is working on an adapter that …

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• 15 May

  ‘Ambient computing’ is future goal, says Google devices chief

  

    Bloomberg Google is staking its vision for the future on what it’s calling “ambient computing,” according to Rick Osterloh, Google’s hardware chief. “Computers should be able to help you with whatever you need seamlessly, and be all around you,” Osterloh said in a Bloomberg Television interview. At its annual I/O conference, Alphabet Inc’s Google introduced a fleet of product …

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• 15 May

  Microsoft has $1.3bn at stake as US tests combat goggles

  

    Bloomberg Microsoft Corp has an initial $1.3 billion at stake in a test beginning later this month on whether its HaloLens augmented-reality goggles can be turned into an effective combat system for the US Army. The month-long test from May 23 to June 17 will be evaluated by the Pentagon’s testing office to determine whether the headset is ready …

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• 15 May

  Rivian reaffirms 25,000 EV target

  Bloomberg Rivian Automotive Inc reaffirmed guidance to deliver 25,000 battery-electric vehicles this year, despite ongoing supply chain snarls hampering its ramp in production. The Irvine, California-based carmaker has built about 5,000 vehicles since production started in September, it said. That includes 2,553 units built in the first quarter against a backdrop of assembly line pauses due to parts shortages. The …

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