December, 2020

• 6 December

  Oil rises for fifth week with support from Opec+ deal

  

  Bloomberg Oil rose for a fifth straight week with support from an Opec+ deal and hopes for another round of US stimulus. Futures in New York and London closed at fresh nine-month highs, with signs that momentum is building towards a fiscal stimulus plan that could provide an immediate demand boost, before a vaccine is widely available. Prices had already …

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• 6 December

  Centrica resumes talks to sell North Sea venture

  

  Bloomberg Centrica Plc, the biggest supplier of energy to UK homes, has resumed talks over a potential sale of its North Sea oil and gas venture after putting the plans on hold earlier this year. The London-listed company is in discussions with “a number of parties” regarding a sale of its controlling stake in Spirit Energy Ltd “but hasn’t restarted …

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• 6 December

  IEA chief sees ‘disturbing’ signal for climate target

  

  Bloomberg Global efforts to reduce wasted energy have faced a major setback in 2020, sidelining a relatively simple way of slashing emissions and hitting climate goals. That’s the conclusion from an International Energy Agency report, which recorded the weakest improvement in efficiency since 2010, as investments into technologies that can cut emissions have slowed amid the economic turmoil brought on …

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• 6 December

  LG Chem recalls home battery systems in US

  

  Bloomberg LG Chem Ltd is voluntarily recalling some models of its home energy storage batteries in the US over concerns they could overheat and start fires. The South Korean industrial giant is working with the US Consumer Product Safety Commission on the recall after the company received reports of five fires with its battery systems that caused limited property damage …

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• 6 December

  Boeing mulling equity sale, plans new cut to 787 output

  

  Bloomberg Boeing Co is studying an equity sale and other ways to ease a debt burden that has soared to $61 billion this year amid the worst slump in aviation history. Adding to the financial stress, Boeing will trim output of its 787 Dreamliner to five planes a month by mid-2021, one less than previously planned, Chief Financial Officer Greg …

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• 6 December

  Singapore Air to make room for Covid vaccines

  

  Bloomberg Singapore Airlines will prioritise freight capacity to ship Covid-19 vaccines and will conduct test flights soon to trial the process, the Straits Times reported, citing a company statement and an executive’s comments Cargo space will be made available to prioritise the vaccine shipments across key trade lanes, the report said. Boeing Co 747-400 freighters, as well as passenger aircraft, …

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• 6 December

  New South African airline to fly even as crisis grips market

  

  Bloomberg A new airline is preparing to start flights in South Africa next week, entering the industry at a time when carriers near and far are going bankrupt amid the worst crisis in aviation history. Lift, owned by Johannesburg-based leasing company Global Airways, will operate three Airbus SE A320 jets and look to tap returning domestic demand after an almost …

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• 6 December

  UK retail landlords facing a hard reality

  

  Bloomberg UK retail landlords are facing a hard reality: the rapid approval of a vaccine has come too late for thousands of their stores. The collapse of department store chain Debenhams Plc and Philip Green’s Arcadia Group this week caps an unremittingly brutal year for the owners of brick and mortar stores. The demise of these retailers alone threatens 16.6 …

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• 6 December

  American Air sees demand slowdown

  Bloomberg American Airlines Group Inc is seeing a slowdown in demand because of surging coronavirus cases, signalling a weaker outlook heading into the year-end holidays. After a strong start for the fourth quarter, a deceleration in net bookings growth began before Thanksgiving and has persisted into this month, American said in a regulatory filing. As a result, the company expects …

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• 6 December

  UK to exempt ‘high-value’ travellers from quarantine

  Bloomberg The UK moved to exempt “high-value” executives from rules requiring people entering the country to quarantine for two weeks, in a move designed to boost business. The rule change means that from 4 am on Saturday, business people arriving in the UK from countries that aren’t on the UK’s travel corridors list won’t have to self-isolate for 14 days, …

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