February, 2022

• 7 February

  Energy firms defend net-zero after report of UK wavering

  

    Bloomberg Companies are defending Britain’s net-zero plans as the best way to resolve the energy crisis in the long term, after a report that close advisers to the prime minister are warning that a rethink of the policy is needed. Chief executives of SSE Plc and the UK arm of Siemens AG said that a faster pivot toward renewables ...

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• 7 February

  US close to finalising tariff exemption for Japan steel imports

  

    Bloomberg The US and Japan are close to an agreement that would partially remove tariffs imposed on Japanese steel imports in 2018, Kyodo reported without saying where it got the information. The two countries haven’t finalised the size of a tariff-free import quota and some other details, Kyodo reported, citing anonymous sources. Japan has been calling for a complete ...

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• 7 February

  Ukrainian insurgency could be Putin’s worst nightmare

  

    If Russia invades Ukraine, President Vladimir Putin will face an immediate and difficult choice: how far to go. Most analysts believe he will probably move forward with an invasion, but is likely to have his military stop within the pro-Russian enclaves of southeastern Ukraine. This would allow him to declare independence for the Donbas region and secure a “land ...

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• 7 February

  EVs, SPACs are a terrible, expensive match

  

  The cohort of listed electric-vehicle startups vying to become the next Tesla Inc. hasn’t produced many vehicles yet. But they’ve sure kept lawyers and forensic accountants busy. Last week two neophyte EV firms that went public via special purpose acquisition companies last year became the latest to overhaul top management after internal probes revealed potentially misleading statements and other questionable ...

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• 7 February

  Fed deals New York City, LA another setback

    The pandemic hit the US economy unevenly, with some places hurting more than others and recovering at different speeds. As the Federal Reserve gets ready to start raising interest rates, we’re about to see that some places are better-positioned to withstand monetary tightening than others. With national unemployment falling below 4%, the Federal Reserve has indicated it’s time to ...

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• 7 February

  Facebook’s cataclysm was a win for capitalism

    It was not a good day for Meta Platforms Inc or its investors, but it was a good day for capitalism. After a quarterly earnings report revealed a decline in Facebook’s daily active users — a first for the company — Meta’s shares plunged by 26% on February 4, some $250 billion in market value was eroded, and analysts ...

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• 7 February

  Boeing’s bet on jet-building frenzy depends on suppliers

  

    Bloomberg For Boeing Co., the pandemic was just one item on the long list of its existential concerns over the past four years. But after a talent exodus, the twin tragedies of its 737 Max jets falling from the sky, and stiff competition from rivals (on top of Covid’s blow to air travel), the company is gearing up for ...

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• 7 February

  Winter Olympics: Chinese sportswear stocks climb

  

    Bloomberg Shares of Chinese sportswear makers climbed as investors bet that Beijing’s Winter Olympics will help spur demand amid the government’s recent drive to increase health awareness. Anta Sports Products Ltd., which is supplying uniforms for athletes in the games, rose as much as 5.2%. Li Ning Co., founded by a medal-winning Olympic gymnast, jumped 6.8% as Hong Kong ...

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• 7 February

  Kenya to inject $176m into struggling national airline

    Bloomberg Kenya plans to inject 20 billion shillings ($176 million) of capital into the country’s cash-strapped national airline, which is battling to survive after years of losses and a mounting debt pile. The funding, detailed in supplementary budget documents submitted to parliament, “is dependent on certain restructuring milestones,” Kenya Airways Plc Chairman Michael Joseph said by text message. The ...

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• 7 February

  Pence says Trump was wrong to say he could overturn election

  

    Bloomberg Mike Pence rejected Donald Trump’s claims that as vice president he had the power to void the 2020 election result and refuse to certify President Joe Biden’s victory, breaking from his old boss as both men weigh possible White House bids in 2024. “I heard this week that President Trump said I had the right to ‘overturn the ...

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