May, 2022

• 15 May

  South Africa’s green hydrogen plan to need $14b investment

  

  Bloomberg South Africa will need to attract investment of $14 billion if it is to develop a substantial green hydrogen industry, the head of the government’s climate finance task team said. An initial amount of $1 billion would be needed to create an industry that could export 20,000 tons of the climate friendly fuel annually and a further $13 billion ...

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• 15 May

  Pemex’s $12.5b refinery sees higher costs

    Bloomberg Petroleos Mexicanos’ beleaguered mega-refinery project in Dos Bocas could run at least $4.7 billion over budget with just months to go before its grand opening. Pemex, as the state-owned oil company is known, has budgeted $12.5 billion for the project through the end of 2022, and is expected to spend some $2 billion more on the project, according ...

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• 15 May

  European gas declines as buyers ready to cope with supply risk

  

  Bloomberg Natural gas prices in Europe declined the most in a month with majors buyers in the region saying they can ride out the latest threat to Russian supply. Benchmark futures fell 9.2%, and posted a weekly loss. Russian shipments through Ukraine have dropped this week, but stayed broadly stable — near the lowest since late April — based on ...

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• 15 May

  US Vice President Harris is breaking a whole lot of ties

  

  Vice President Kamala Harris voted six times to break Senate ties this week. That brings her total to 23 ties broken, a record pace. She’s already third all-time, behind only John C Calhoun (31 from 1825-1832) and John Adams (29 from 1789-1797). What she’s voted on tells an important story about the Senate. None of it has been regular legislation. ...

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• 15 May

  Is Tesco boss’s $3.9m bonus justified?

  

  It’s hard to accept that Tesco Plc boss Ken Murphy deserves the full £3.2 million ($3.9 million) top-up he received in addition to his £1.5 million fixed pay for its last financial year. The award points to a badly designed bonus plan which can pay jumbo rewards on very crude metrics. The one good thing about Murphy’s bonus is that ...

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• 15 May

  Saving the planet is way more important now!

    America needs to build a new and greener energy infrastructure, yet there is a problem standing in the way. Or maybe flying in the way, because that obstacle is birds — and, more generally, the human bias toward the status quo when animal interests are at stake. We have to be more willing to disrupt current animal habitats when ...

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• 15 May

  President Biden should rethink his border plan

  With an eye on the midterm elections, Republicans have highlighted a burgeoning crisis at the southern border to attack President Joe Biden’s handling of immigration. The criticism is largely warranted. Biden’s failure to implement a coherent border policy has led to a surge in illegal crossings and caused conservatives to amplify fears of a migrant “invasion.” It’s also making it ...

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• 15 May

  Baby-formula shortage spurs US to prod Abbott over access

  

    Bloomberg The Biden administration urged Abbott Laboratories to do more to ensure low-income families on federal assistance have access to baby formula, amid a nationwide shortage. Agriculture Secretary Tom Vilsack said the company should extend flexibility through the end of August for states and territories to obtain rebates to purchase alternative formulas to ensure supply for people on the ...

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• 15 May

  Boeing faces FAA’s request for 787 data to resume deliveries

  

    Bloomberg Boeing Co has been told by US regulators that it needs to submit more documentation in order to resume deliveries of its 787 Dreamliner jet, according to people familiar with the request, signalling it may face a further delay before the Federal Aviation Administration signs off on its inspections and repairs to the plane. The FAA notified the ...

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• 15 May

  China’s C919 jet completes first pre-delivery test flight

  

    Bloomberg A Chinese rival to Boeing Co’s 737 Max and Airbus SE’s A320neo narrowbody aircraft completed its first pre-delivery test flight, according to a CCTV report. The C919 jet developed by Commercial Aircraft Corp of China Ltd was test flown for about three hours ahead of its delivery to its first customer soon, the report said. The narrowbody plane ...

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