February, 2021

• 20 February

  iPhone assembler Foxconn to help launch electric cars

  

  Bloomberg Foxconn Technology Group’s new EV platform is expected to help launch vehicles later this year, a company official said, signifying major progress in the Taiwanese electronics giant’s push into the automotive space. Two light vehicles designed using Foxconn’s platform will be unveiled in the fourth quarter, Chairman Young Liu of Foxconn’s flagship unit Hon Hai Precision Industry Co. told …

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• 20 February

  Uber loses UK ruling on drivers in blow to gig economy

  

  Bloomberg Uber Technologies Inc. lost a UK Supreme Court ruling over the rights of its drivers, in a landmark decision that strikes a blow against the gig economy. The judges unanimously ruled that Uber drivers are “workers” entitled to rights like minimum wage, holiday pay and rest breaks. The ruling will have a significant impact on the UK’s burgeoning gig …

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• 17 February

  Abu Dhabi records AED74b in real estate transactions in 2020

  

  ABU DHABI / WAM The value of real estate transactions in Abu Dhabi in 2020 totalled AED74 billion, with 19,000 transactions being executed, including sales and mortgages of land, buildings and real estate units for all types of land use, a rise of 28 percent compared to 2019, which recorded a value of AED58 billion. A report by the Department …

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• 17 February

  Oil holds near $60 as cold snap halts a third of US crude output

  

  Bloomberg Oil held gains after surpassing $60 a barrel for the first time in a year as a cold snap and power crisis took out a third of US crude production. Some 3.5 million barrels a day of American output has been halted, according to traders and industry executives, as a cold blast freezes well operations and cuts power across …

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• 17 February

  UK utilities looking to a future without gas to heat homes

  

  Bloomberg Several UK utilities are lining up to support changes to how households are taxed in Britain for their energy use. In an effort to make electricity cheaper for charging cars and heating homes, the Prime Minister Boris Johnson’s government is considering moving some levies away from power to gas bills. It’s a move that could kick-start the mammoth task …

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• 17 February

  Maersk bids farewell to fossil-fuel only ships

  Bloomberg A century after the global shipping fleet ran largely on coal, the world’s largest shipping line is taking a historic step toward not using fossil fuels for propulsion. All newly constructed vessels owned by AP Moller-Maersk will have to be able to use carbon-neutral fuels, such as clean methanol and ammonia, as well as traditional oil-based products, the company …

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• 17 February

  Lufthansa, planemakers in talks over smaller aircraft

  

  Bloomberg Deutsche Lufthansa AG is in talks with planemakers about swapping some orders for larger aircraft to smaller long-distance models, helping to adapt its fleet to an enduring slump in intercontinental business travel as the coronavirus crisis upends demand. Europe’s largest airline group is in negotiations with Airbus SE and Boeing Co about existing orders, with the manufacturers showing flexibility …

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• 17 February

  Air France-KLM’s shares risk plunging to one euro

  

  Bloomberg Air France-KLM is the most vulnerable of Europe’s major legacy carriers to an extended slump in passenger traffic and its share price could fall to one euro, according to analysts at Bernstein. The Franco-Dutch airline is in need of another multi-billion euro bailout and “likely has insufficient liquidity to continue into 2022,” the analysts including Daniel Roeska wrote in …

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• 17 February

  Transat plummets with Air Canada takeover in jeopardy

  

  Bloomberg Air Canada’s proposed takeover of Transat AT Inc has been thrown into doubt after European regulators failed to approve the deal by a February 15 deadline. The companies are still talking about “potential amendments” that can keep the deal alive, Montreal-based Transat said in a statement. However, Air Canada won’t agree to extend the deadline, meaning either company now …

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• 17 February

  Amazon accused of lax virus safety in NY suit

  Bloomberg Amazon.com Inc has failed to comply with workplace safety rules during the pandemic and retaliated against warehouse workers who raised concerns, New York alleged in a lawsuit against the retail giant. “Amazon’s flagrant disregard for health and safety requirements has threatened serious illness and grave harm to the thousands of workers in these facilities and poses a continued substantial …

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