January, 2022

• 17 January

  S Africa’s Eskom takes two atomic units offline

  

    Bloomberg Eskom Holdings SOC Ltd., which supplies almost all of South Africa’s power, will take two of the continent’s largest generating units offline this year for maintenance, increasing the risk of power cuts after the nation had record outages in 2021. The extended unavailability of the units with capacity of 920 megawatts each due to the “planned long outages …

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• 17 January

  Weak retail sales, sentiment show US economy lost traction

  

    Bloomberg US retail sales stumbled at the end of 2021, factory output weakened and consumer sentiment deteriorated at the start of the new year, illustrating a loss of traction for the economy that many analysts view as temporary. Friday’s data deluge showed how lingering shipping challenges, supply and labor constraints, the fastest inflation in decades and the Omicron variant …

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• 17 January

  Walmart chief customer officer exits, head merchant retires

  

    Bloomberg Walmart Inc is losing two key executives in its US operation as the retail giant ramps up its online offerings and attempts to reverse last year’s disappointing stock-market performance. Chief Merchandising Officer Scott McCall will retire after almost three decades with the company, according to a memo to employees from John Furner, who heads Walmart’s US business. McCall …

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• 17 January

  Spain to weigh Air Europa stake in revised deal with IAG

  

    Bloomberg Spain is considering taking a direct stake in Air Europa as part of a revised plan to rescue the troubled airline after the collapse of its proposed sale to IAG SA, according to people familiar with the matter. Under a new structure under discussion, state-backed coronavirus bailout loans could be converted into a government holding of about 40% …

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• 17 January

  Mali threatens to revoke airlines’ landing slots

    Bloomberg Airlines flying to Mali, which has been placed under sanctions by West Africa’s regional economic bloc, must confirm whether they will continue to operate within 72 hours, or risk losing their landing slots. “After this deadline, their time slots will be handed to other airlines, in order to assure continued services,” Mali’s Transport Minister Madina Sissoko Dembele said …

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• 17 January

  First aircraft-specific limit for 5G signals issued by FAA 

    Bloomberg US aviation regulators published the first aircraft-specific restriction related to new 5G service expected to begin next week, ordering operators of Boeing Co. 787 jets to update landing requirements. Equipment on the planes that could be subject to interference from 5G radio waves affects how the jet stops after touching down, the Federal Aviation Administration said in an …

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• 17 January

  Starbucks staff to vote on union at 3 more stores

    Bloomberg Starbucks Corp. employees at three more restaurants in New York state will vote on unionization, a US labor official ruled, offering organizers a chance to expand a new labor foothold that’s already inspiring copycat efforts around the country. In her ruling, Nancy Wilson, an acting regional director of the National Labor Relations Board, rejected the company’s arguments against …

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• 17 January

  JPMorgan falls most since 2020 on plan for big spending hike

  

    Bloomberg JPMorgan Chase & Co falls the most since 2020 after the company said compensation and other costs jumped in the fourth quarter ahead of an expected surge this year. Expenses in the last three months of 2021 rise 11% from a year earlier, and the firm said to expect them to rise to about $77 billion this year …

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• 17 January

  HDFC Bank’s Q3 profit up 18% on loan growth

  

    Bloomberg HDFC Bank Ltd.’s profit rises in the third quarter, beating estimates, helped by loan growth and improved asset quality as consumer demand picked up. Net income stood at INR 103.4 billion rupees ($1.4 billion) rupees for the quarter ending December compared with 87.6 billion rupees a year ago. That beat the average estimate of 101.4 billion rupees by …

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• 17 January

  BOK flags more rate hikes to come over inflation fears

  

    Bloomberg Bank of Korea Governor Lee Ju-yeol signalled the likelihood of more interest rate increases to come following the hike, as the central bank clearly put inflation concerns ahead of uncertainties over Covid-19. Even though the key policy rate, now at 1.25%, is back at pre-pandemic levels, Lee said it was at an accommodative level, adding that another hike …

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