April, 2022

• 3 April

  The Points Guy files motion to dismiss in American suit

    Bloomberg The Points Guy LLC filed a motion to dismiss an American Airlines Inc lawsuit that the travel site violated company rules by letting frequent flyers manage their miles on platforms other than the carrier’s site. The travel agency alleges that the suit should either be “dismissed or transferred to a proper venue,” according to a legal document. American ...

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• 3 April

  Lotus electric SUV is a lean, mean, China-made driving machine

  

    Bloomberg British carmaker Lotus’s bid to move from bit player in the racy roadster market to mass relevancy rests on a 600-horsepower electric SUV. China’s Zhejiang Geely Holding Group Co, which in 2017 purchased a majority stake in the heritage brand, revealed the Lotus Eletre in London, where it was driven onstage by Formula 1 champion Jenson Button. The ...

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• 3 April

  Ford steps up Europe EV push with seven all-electric models

  

    Bloomberg Ford Motor Co is boosting its electric-vehicle lineup with seven new models over the next two years across its passenger car and commercial van range to target sales of more than 600,000 battery-powered vehicles. The US carmaker is also doubling to $2 billion its planned investment at its key European production site in Cologne, Germany, to make electric ...

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• 3 April

  Sony unveils PlayStation subscription

    Bloomberg Sony Group Corp. introduces a new video game subscription service for the PlayStation, said people familiar with the plans. The service, which has been in development under the codename Spartacus, is Sony’s answer to Microsoft Corp.’s Xbox Game Pass, a sort of Netflix for video games that has amassed more than 25 million subscribers. Sony’s will debut with ...

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• 3 April

  Apple weighs more chip suppliers, including China

  Bloomberg Apple Inc is exploring new sources of the memory chips that go into iPhones, including its first Chinese producer of the critical component, after a disruption at a key Japanese partner exposed the risks to its global supply. It’s considering expanding a roster of suppliers that already includes Micron Technology Inc. and Samsung Electronics Co. after Kioxia Holdings Corp. ...

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• 3 April

  Toyota may stop manufacturing in UK

    Bloomberg Toyota may stop manufacturing in the UK because of a government policy that mandates a rapid switch to fully electric vehicles, the Times of London reported. The company told Transport Secretary Grant Shapps about its concerns for the plan’s transition phase, which bans new gasoline and diesel cars from 2030. While hybrid vehicles will be allowed until 2035, ...

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• 1 April

  Oil heads for weekly decline as US plans huge reserve release

  

  Bloomberg Oil headed for the biggest weekly loss in almost two years after the Biden administration ordered an unprecedented release of the US strategic reserves to tame rampant prices. West Texas Intermediate futures swung between gains and losses Friday, and were down about 13% this week, the most since April 2020. The US plans to release 1 million barrels a ...

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• 1 April

  South Africa’s plan to add $6.5b of power generation delayed

  

    Bloomberg South Africa’s plan to add an estimated $6.5 billion worth of private power generation has been further delayed as the nation continues to suffer from intermittent power outages. The signing of power purchase agreements by preferred bidders for the 2,000 megawatt risk mitigation, or emergency power, program was postponed due to “outstanding matters and conditions” with state-owned electricity ...

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• 1 April

  PetroChina scores best profit in 7 years on rising oil price

  

  Bloomberg China’s biggest oil company posted its best profit since 2014 as it benefited from rising energy prices. PetroChina Co’s net income rose to 92 billion yuan ($14.5 billion) in 2021, more than quadrupling the level from the previous year, according to its annual earnings release. Oil and gas production rose 3.4%, while the refining business recovered from a loss ...

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• 1 April

  Kenya Air plans fuel hedges as prices stabilise to cut cost

  

    Bloomberg Kenya Airways Plc’s board gave approval for the carrier to hedge prices for more than 35% of its fuel needs and is in talks with the African Airlines Association for bulk fuel purchases in a drive to cut costs. Fuel accounts for at least a quarter of costs for the airline in which the Kenyan government has a ...

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