May, 2022

• 21 May

  China’s Russian energy imports hit $6b in April

  

    Bloomberg China kept buying more energy from Russia, with purchases of oil, gas and coal jumping 75% in April to over $6 billion, even as domestic demand slowed due to a resurgent virus and the US and Europe moved away from purchases. Imports of Russian liquefied natural gas surged 80% from a year earlier to 463,000 tons, according to ...

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• 21 May

  Energy crunch causes ESG to fall out of favour: John Browne

    Bloomberg The former chief of BP Plc warned that investors are pushing environmental, social and governance concerns aside as fears about energy security and mounting costs take precedence. John Browne, who ran BP between 1995 and 2007, was speaking 25 years after becoming the first boss of an oil major to acknowledge the link between manmade carbon emissions and ...

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• 21 May

  Finland loses main gas supply after refusing payment in rubles

  

  Bloomberg Russia is cutting Finland off from its natural gas supplies as relations between the two neighbours sour over the Nordic nation’s decision to join defense alliance Nato. Finland is the third European country to lose gas from Russia after refusing to pay for the fuel in rubles. Flows on a main pipeline from the region’s top supplier were expected ...

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• 21 May

  Bailey proves inflation targeting is a bad idea

  

  The Bank of England (BOE) would have preferred to have had more to celebrate on the 25th anniversary of its independence earlier this month. The central bank’s Monetary Policy Committee has one goal, to which everything else is subordinate: to keep overall consumer inflation at 2%. But it has been a year since the inflation rate was that low and ...

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• 21 May

  Japan needs to learn to invest now

  

  The biggest story in Japan was about a man who mistakenly received an entire town’s $360,000 allotment of Covid stimulus money — and chose to gamble it all at an online casino rather than invest. That’s at the heart of an issue once again on the national agenda: Getting the Japanese to put their substantial amount of spare cash into ...

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• 21 May

  Blame ‘bad policy’ for US’s baby formula crisis

    To soaring prices, plummeting stocks and disrupted supply chains, add another worry for American consumers: an alarming shortage of baby formula. Beyond the current panic, the crisis is an object lesson in how decades of protectionism can culminate in disaster. Reports of empty shelves, rationed supplies, online scams and anxious parents have proliferated in recent weeks. An analysis by ...

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• 21 May

  Britain’s cost-of-living crisis petrifies tenants

    The UK cost-of-living crisis is becoming increasingly apparent to people, in the growing gap between the wages they earn and what they spend on groceries and fuel bills. But it is also squeezing the most vulnerable in another less visible but no less fundamental part of life — rent. Happily, there are signs both renters and landlords are finding ...

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• 21 May

  Spirit’s latest JetBlue rebuff sets up key shareholder vote

  

    Bloomberg Spirit Airlines Inc rebuffed a hostile $3.3 billion takeover offer from JetBlue Airways Corp, setting the stage for a potentially contentious vote by shareholders on whether to back the bid or go with a competing proposal from Frontier Group Holdings Inc. Spirit said its board unanimously determined the JetBlue offer is not in the best interests of the ...

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• 21 May

  India’s Go First plans IPO as air travel rebounds

  

    Bloomberg Go First, India’s No. 2 airline, is planning to raise 36 billion rupees ($464 million) through an initial public offering in July as air travel recovers from the pandemic, according to a person familiar with the matter. Go First’s share sale comes as air travel is rebounding in the South Asian nation driven by pent-up demand as people ...

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• 21 May

  Boeing Max faces another China hurdle as airline says ‘not ready’

  

    Bloomberg China Eastern Airlines outlined several actions it needs to undertake before operating Boeing Co’s 737 Max again, including modifications to the aircraft and further pilot training, damping hopes the narrowbody will return to Chinese skies any time soon. Li Yangmin, vice chairman of the Shanghai-based state-owned carrier, indicated to investors at a virtual briefing that the airline is ...

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