May, 2022

• 16 May

  Allianz warns of car ship pain after 4,000 vehicles lost at sea

  

    Bloomberg Allianz SE says car-shipping incidents are now a major cause of loss for the insurance industry after a cargo ship with about 4,000 Volkswagen AG vehicles caught fire and sank in the Atlantic two months ago. Fires on board car carriers have become a loss driver over the past decade, according to a report published by Allianz Global ...

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• 15 May

  Apple is testing a switch to USB-C for future iPhones

  

  Bloomberg Apple Inc is testing future iPhone models that replace the current Lightning charging port with the more prevalent USB-C connector, according to people with knowledge of the situation, a move that could help the company conform with looming European regulations. In addition to testing models with a USB-C port in recent months, Apple is working on an adapter that ...

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• 15 May

  ‘Ambient computing’ is future goal, says Google devices chief

  

    Bloomberg Google is staking its vision for the future on what it’s calling “ambient computing,” according to Rick Osterloh, Google’s hardware chief. “Computers should be able to help you with whatever you need seamlessly, and be all around you,” Osterloh said in a Bloomberg Television interview. At its annual I/O conference, Alphabet Inc’s Google introduced a fleet of product ...

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• 15 May

  Microsoft has $1.3bn at stake as US tests combat goggles

  

    Bloomberg Microsoft Corp has an initial $1.3 billion at stake in a test beginning later this month on whether its HaloLens augmented-reality goggles can be turned into an effective combat system for the US Army. The month-long test from May 23 to June 17 will be evaluated by the Pentagon’s testing office to determine whether the headset is ready ...

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• 15 May

  Rivian reaffirms 25,000 EV target

  Bloomberg Rivian Automotive Inc reaffirmed guidance to deliver 25,000 battery-electric vehicles this year, despite ongoing supply chain snarls hampering its ramp in production. The Irvine, California-based carmaker has built about 5,000 vehicles since production started in September, it said. That includes 2,553 units built in the first quarter against a backdrop of assembly line pauses due to parts shortages. The ...

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• 15 May

  Oil surges as global refining crunch drives record fuel costs

  

    Bloomberg Oil climbed as a global squeeze on refined products continued to pull fuel prices higher with Russian diesel exports falling sharply. West Texas Intermediate rises 4.1% and eked out a weekly gain of 0.7% after a series of tumultuous trading sessions where lowered liquidity exacerbated price moves. Diesel exports from Russia dropped in April from their prewar level ...

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• 15 May

  Sheikh Mohamed bin Zayed elected UAE president

  

  Abu Dhabi / WAM The Federal Supreme Council on Saturday unanimously elected His Highness Sheikh Mohamed bin Zayed Al Nahyan as President of the United Arab Emirates. The council held a meeting on Saturday at Al Mushrif Palace in Abu Dhabi, chaired by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and ...

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• 15 May

  Sheikh Mohamed accepts condolences on death of Sheikh Khalifa

  

  Abu Dhabi / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Ruler of the Emirate of Abu Dhabi, received condolences on the passing of Sheikh Khalifa bin Zayed Al Nahyan, from His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai; HH Dr Sheikh Sultan bin Muhammad Al Qasimi, Supreme ...

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• 15 May

  UK North Sea sees political reprieve plan in energy crisis

  

    Bloomberg Six months ago, UK North Sea oil and gas faced the bleakest outlook in its 50-year history. The government was focused on hosting the COP 26 climate talks and environmentalists were close to killing off one of the country’s largest oilfield developments, called Cambo. An industry that had excelled at prolonging its lifespan was at risk of sudden ...

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• 15 May

  Texas grid operator calls for power conservation

  

  Bloomberg The Texas grid operator called on residents to conserve energy after six generation facilities tripped offline amid hot weather, prompting power prices to spike. The power-plant failures resulted in a loss of about 2,900 megawatts of electricity, the Electric Reliability Council of Texas (Ercot) said. That’s enough power for about 580,000 homes and businesses. Natural-gas fired plants make up ...

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