June, 2021

• 7 June

  Orsted unveils $57b strategy to be top green super major

  

  Bloomberg Orsted A/S, the biggest developer of offshore wind farms, plans to spend 350 billion Danish kroner ($57 billion) by 2027 to be the world’s leading green energy provider. The Danish firm faces increasing pressure from utilities as well as oil majors that aim to be major players in the transition to clean energy, an area it pioneered when it …

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• 7 June

  Russian oil giant warns of oil shortage

  

  Bloomberg Russian oil giant Rosneft PJSC warned of an impending shortfall in supply as global producers channel funds into a “hasty” energy transition. “The world risks a severe deficit of oil and gas,” Rosneft CEO Igor Sechin said at the St Petersburg International Economic Forum. “The world consumes oil, but isn’t ready to invest in it.” His comments echo those …

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• 7 June

  LNG makers get hint to go greener from US official

  Bloomberg The days of promoting liquefied natural gas as “freedom gas” or “molecules of freedom” have ended at the US Department of Energy. During a visit to Houston, US Secretary of Energy Jennifer Granholm said the Biden administration would rather promote and sell a cleaner version of the superchilled power plant fuel. The statement marks a policy shift from the …

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• 7 June

  Airfares hit $1,000 as British tourists rush to leave Portugal

  

  Bloomberg UK tourists scrambled to return from Portugal before a quarantine requirement kicks in on Tuesday, driving up ticket prices as travellers rearranged flights ahead of the deadline. A three-hour British Airways flight from Faro, in the popular Algarve region, to London City airport on Monday night costs $1,000, according to Skyscanner. The following day, when passengers will be subject …

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• 7 June

  Labour unions protest Breeze Airways approval

  

  Bloomberg Labour unions have asked the federal government to review its approval of Breeze Airways to operate in the US, citing concerns over the discount carrier’s recruitment and employment policies. The unions said Breeze, an upstart domestic carrier founded by airline entrepreneur David Neeleman, violated age discrimination and diversity statutes with a plan to hire flight attendants solely through a …

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• 6 June

  Covid-19 crisis drives IndiGo to worse-than-expected loss

  

  Bloomberg IndiGo, one of Asia’s biggest budget airlines, reported a wider-than-anticipated loss as passenger traffic shrank with the coronavirus tearing through India. The carrier, operated by InterGlobe Aviation Ltd, posted a loss of $157 million in the three months through March, its fourth quarter. That compared with a loss of 8.7 billion rupee a year ago. The average forecast from …

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• 6 June

  Tesco’s female workers get EU boost in fight over equal pay

  

  Bloomberg Thousands of female Tesco Plc workers in the UK were handed a post-Brexit boost after the European Union’s top court said the bloc’s rules on equal pay for equal work can be invoked in supermarket pay cases. The UK’s largest retailer lost a ruling, which allows EU law to be taken into account when determining if predominantly female shop …

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• 6 June

  France loosens entry rules for vaccinated EU travellers

  Bloomberg France will allow vaccinated travellers from the European Union to enter without showing negative Covid-19 tests starting from June 9, a move designed to ease travel before the traditional summer holiday season. The looser rules unveiled for one of the world’s top destinations will organise countries into three categories, with visitors from so-called “green” nations accepted with proof of …

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• 6 June

  Lululemon outlook tops sales estimates

  Bloomberg Lululemon Athletica Inc posted first-quarter sales and an outlook for the full year that beat expectations as the company saw a pickup in brick-and-mortar traffic along with strong online sales. The yogawear company raised the annual guidance it issued in March. Revenue is now seen at about $5.825 billion to $5.905 billion this year, up from the previous range …

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• 6 June

  Emerging-market stocks in pole position to gain as world reopens

  

  Bloomberg A bullish case is building for emerging-market stocks, which have trailed their developed-nation peers this year, with strategists saying the asset class is better positioned to benefit from a global reopening. There are already signs the gap is narrowing, with the MSCI Emerging Markets Index last month outperforming the MSCI World Index for the first time since January. Relatively …

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