July, 2022

• 22 July

  Surging energy prices to push one in three UK homes into fuel poverty

  

    Bloomberg Surging energy prices are projected to push one in three British households into fuel poverty by October, intensifying the cost-of-living crisis and heaping pressure on the new prime minister to take swift action. The number of homes spending more than 10% of total income on energy will jump to 8.2 million that month, when bills are set to ...

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• 22 July

  Gas turbine for Gazprom’s Nord Stream 1 still in transit in Germany

  

  Bloomberg A gas turbine for the operation of Gazprom PJSC’s Nord Stream 1 pipeline that’s the main route of gas transport from Russia to Germany is held up in transit after maintenance in Canada, the latest twist in an ongoing spat between the two countries. The turbine is currently stranded at an undisclosed location in Germany because Russia hasn’t provided ...

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• 22 July

  Hindustan Zinc weighs expansion

    Bloomberg Hindustan Zinc, a unit of billionaire Anil Agarwal’s Vedanta, is considering expanding overseas as a way to profit from growth opportunities in Europe. “There is a strategic thought that we could venture into the international market,” Hindustan Zinc Chief Executive Officer Arun Misra said in a phone interview. “Europe provides us with an opportunity, the make or break ...

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• 22 July

  Alcoa warns 20% of aluminum capacity is unprofitable

  

    Bloomberg Alcoa Corp warned that surging costs around the globe have rendered as much as 20% of aluminum-production capacity unprofitable. Despite rising worldwide aluminum demand, Alcoa will be pinched by escalating costs for energy and raw materials, Chief Executive Roy Harvey said during a call with analysts. “Based on June’s average prices, we estimate that between 10% to 20% ...

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• 22 July

  The populist experiment in Italy has failed, finally!

  

  Italy is back in crisis, unsurprisingly. The political cycle that started with a populist earthquake in 2018, bringing together fringe forces of the left and right in an unusual coalition, has ended the same way it started — with a bitter shock to the system and market turbulence over the future of Italy. Along the way, it has fuelled the ...

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• 22 July

  Is Amazon’s private-label a losing idea?

  

  Last month, comedian John Oliver delivered a scathing episode on tech monopolies for his show “Last Week Tonight.” Between jokes, he laid out some key Big Tech antitrust concerns. Apple Inc controlling the App Store. Alphabet Inc’s Google favouring its own properties in search results. Amazon.com Inc reportedly using third-party seller data to create knock-off private label products. However, a ...

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• 22 July

  BOJ must not meddle in financial markets

    Whatever else killed George Washington, the draining of more than a third of his blood in less than half a day would probably have done him in anyway. Well into the 19th century, bloodletting, as it was called, was the favoured treatment of doctors for pretty much everything for two reasons: First, it was based on a generally accepted ...

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• 22 July

  The Federal Reserve is failing in four ways

    Global economy watchers and market participants will be paying a lot of attention next week to how the Federal Reserve describes the US economic outlook, to the magnitude of its interest rate increase and whether it changes the pace of its balance-sheet contraction. Yet for the well-being of the US and global economy, the answer to these questions is ...

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• 22 July

  Airbus bags mainstay jet deal after lackuster expo

  

  Bloomberg The first all-new order for Airbus SE’s mainstay A320 jet of this week’s Farnborough International Airshow was distinctly lacking in the hoopla that usually accompanies deals unveiled at the world’s leading aviation expo. The $2 billion transaction from Latam Airlines Group SA of Chile was communicated by email at the show in the UK, when most show delegates were ...

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• 22 July

  Akasa Air starts ticket sales in crowded India

  

    Bloomberg Akasa Air, India’s newest carrier backed by billionaire Rakesh Jhunjhunwala, started ticket sales for its debut flights. The low-cost airline will initially fly Boeing Co 737 Max jets to four Indian cities, including Ahmedabad, Bengaluru, Mumbai, and Kochi, according to a statement. The carrier will start operating 28 weekly flights between Mumbai and Ahmedabad on August 7, followed ...

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