May, 2022

• 6 May

  Britain to get surge of tax payments from Shell, BP

  

    Bloomberg The UK Treasury will get a boost from Big Oil’s tax payments for the first time in years as high energy prices send companies’ profits surging. The payments will come at a time when energy firms are under fire in Britain as their record earnings sit uncomfortably next to soaring cost of living for households. Activists and politicians …

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• 6 May

  Russian energy firm Lukoil ‘is looking to identify its creditors’ amid new rules

  

  Bloomberg Russia’s second-biggest oil producer is looking to identify its creditors, as the firm attempts to pick its way through the complex web of new rules governing its interactions with foreign bondholders following the departure of its sanctioned co-founder. Lukoil PJSC is asking investors of its foreign-denominated bonds to disclose their identity and how much they hold, according to people …

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• 6 May

  Ineos to supply hydrogen for testing in UK

    Bloomberg Chemicals giant Ineos Group Ltd is set to supply hydrogen that will be used in a pilot project to test whether the fuel can provide a greener alternative to natural gas in Britain’s pipelines. The UK government is setting more ambitious targets for hydrogen usage, as part of efforts to accelerate decarbonisation and shore up energy security. Trials …

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• 6 May

  Germany, Netherlands push North Sea drilling to shun Russia

  

    Bloomberg Germany and the Netherlands are moving closer to starting new gas production in the North Sea as part of broader efforts to reduce reliance on Russian energy imports. The German state of Lower Saxony and Dutch energy company ONE-Dyas BV aim to pump natural gas from undersea deposits 20 kilometres (12 miles) north of the islands of Borkum …

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• 6 May

  Qantas Air revives plan for world’s longest direct flights

  

  Bloomberg Qantas Airways Ltd revived a plan to start direct flights connecting Australia’s east coast with New York and London as it finally ordered Airbus SE jets for the ultra-long services. The airline said it’s buying 12 A350-1000s that can fly non-stop from Australia to any city in the world. Commercial services will start from Sydney in late 2025, Qantas …

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• 6 May

  Korean Air sales rival pre-Covid levels on strong cargo boom

  

    Bloomberg Korean Air Lines Co reported preliminary revenue that’s almost back at pre-Covid levels on a quarterly basis as the carrier’s strong presence in cargo makes up for still-weak passenger traffic. The South Korean airline posted revenue of 2.81 trillion won ($2.3 billion) and a record first-quarter operating profit of 788.4 billion won, according to a statement. The airline’s …

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• 6 May

  Next sales surge as inflation weighs on British shoppers

  

    Bloomberg Next Plc said store sales soared in the first quarter as they stayed open following the end of pandemic restrictions, even as inflation squeezes shoppers’ disposable income. The British clothing and housewares chain said sales jumped by 285% in a strong start as it reiterated that it expects annual pretax profit of $1.07 billion in the year through …

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• 6 May

  Delta teams up with tiny regional Australian airline Rex

  

    Bloomberg Delta Air Lines Inc and Australian regional carrier Rex are teaming up to access each other’s networks, a partnership coup for the diminutive Sydney-based carrier as it tries to establish itself as a rival to Qantas Airways Ltd. Rex’s passengers across Australia will be able to connect to Delta’s network in a single booking by joining the US …

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• 6 May

  Mumbai airport gets $750m in Apollo private placement

    Bloomberg Mumbai International Airport Ltd has raised $750 million from a private bond sale to Apollo Global Management Inc after delaying a planned note issue. The operator of India’s No. 2 airport, controlled by the country’s richest man, sold 7.25-year dollar notes to funds managed by Apollo in order to refinance existing debt and fund new capital expenditure, according …

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• 6 May

  Australia retail sales hit record: ABS

    Bloomberg Australian retail sales jumped for a third consecutive month to hit a record, driven by a spending revival on the nation’s flood-ravaged east coast and highlighting the economy’s strong underlying momentum. Sales surged 1.6% in March to A$33.6 billion ($23.9 billion), more than triple economists’ forecast for a 0.5% increase, Australian Bureau of Statistics (ABS) data showed. The …

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