June, 2022

• 24 June

  BHP scraps thermal coal exit

  

    Bloomberg BHP group u-turned on its plan to exit from thermal coal, after surging prices made the assets more valuable and a shift in investor attitudes has reduced pressure on the company to stop mining the dirtiest fuel. The world’s biggest resources companies and their shareholders have been grappling for years with the question of whether to get out …

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• 24 June

  UK agency to invest $200m in African hydropower projects

  

    Bloomberg The UK’s development finance agency will invest about $200 million in African hydroelectricity projects to boost the continent’s renewable energy portfolio. British International Investment Plc, formerly CDC Group, will invest into a joint venture between Norway’s Norfund AS and Scatec ASA to deliver about 675 megawatts, its largest backing for water-generated power, the fund said. Norfund plans to …

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• 24 June

  Italy may trigger emergency gas plan

    Bloomberg Italy may trigger its emergency gas plan as soon as next week if Russia continues to curb supplies, a move that may involve a bigger reliance on the dirtier fuels. If Gazprom PJSC doesn’t restore its gas supplies to Italy by mid-week, the government may initiate an emergency phase for its market, according to people familiar with the …

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• 24 June

  Japan to withdraw financing of key coal projects

  

    Bloomberg Japan will withdraw financing for key coal-fired power plant projects in Bangladesh and Indonesia under efforts aimed at accelerating a global phase-out of the dirtiest fossil fuel. Asia’s second-largest economy will stop providing government-backed yen loans to the Matarbari 2 coal expansion project in Bangladesh and the Indramayu plant in Indonesia, the country’s Foreign Ministry said in a …

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• 24 June

  Tap sees uncertain market driving key investor search

  

    Bloomberg Portugal’s state-owned airline Tap SA said a new investor would put it on a more solid footing as it pushes ahead with a restructuring program amid higher fuel costs and increasing geopolitical uncertainty. “It’s a very difficult market,” Chief Executive Officer Christine Ourmieres-Widener said. “Fuel costs are increasing. We could have wars, we could have pandemics, so being …

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• 24 June

  Lufthansa slashes 2,200 flights over staff shortages

  

  Bloomberg Deutsche Lufthansa AG cancelled 2,200 flights after a wave of coronavirus infections worsened staffing shortages, adding to Europe’s travel chaos as the crucial summer vacation period gets under way. Germany’s flagship airline scrapped both domestic and European routes for July and August, a spokesman said. That follows 900 cancellations announced earlier this month. Lufthansa fell as much as 3.3% …

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• 24 June

  South Africa sued over $3 sale of troubled national airline

  

  Bloomberg South Africa’s government and national airline are being sued by a little-known investment firm, which wants the sale of a majority stake in the carrier scrapped and re-run due to a lack of transparency. This year’s acquisition of 51% of South African Airways (SAA) by the Takatso Consortium — made up of a local jet-leasing company and a private-equity …

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• 24 June

  British Airways staff at Heathrow vote to strike over pay

  

  Bloomberg British Airways (BA) workers at London Heathrow airport are set to strike in a dispute over pay, adding to a wave of industrial action across Europe that threatens to unleash travel chaos in the region this summer. The GMB and Unite unions said hundreds of BA check-in staff backed walkouts during the peak vacation period after the carrier refused …

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• 24 June

  Tesco CEO says shoppers are ‘terrified’ of inflation

    Bloomberg More than 75% of people are “terrified” of the effect the cost-of-living crisis will have on their families, according to the head of UK’s largest supermarket. Tesco Plc Chief Executive Officer Ken Murphy said the grocer has done a lot of research about how people are feeling right now as they battle the worst inflation to hit Britain …

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• 24 June

  TUI CEO to quit after handling Covid crisis

    Bloomberg TUI AG Chief Executive Officer Fritz Joussen is set to leave after almost 10 years at the helm of the world’s biggest tour operator, having steered the company through the Covid-19 crisis. Joussen, 59, will step down at the end of September, according to a statement. Chief Financial Officer Sebastian Ebel will replace him and Mathias Kiep, the …

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