February, 2022

• 4 February

  Texas cold snap deepens, and demand for power surges

  

    Bloomberg The biggest test of Texas’s newly fortified power grid arrives Friday morning, when electricity demand is forecast to surge as waking residents crank up heaters in the sub-freezing cold. Shortly before sunrise in Dallas, it was 20 degrees Fahrenheit (-7 degrees Celsius). Midland, in the oil- and gas-rich Permian basin, was 10. Highs will only be in the ...

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• 4 February

  Focus on climate is the best news in India’s new budget

  

    India’s federal budget, presented earlier this week, is both a presentation of the national accounts and the only statement of government policy that we get all year. This year, the accounts made for worrying reading. The government is short of money and the economy is short of momentum. As a statement of policy, however, the budget is far more ...

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• 4 February

  Facebook must solve its TikTok problem

  

    Facebook parent Meta Platforms Inc. has suffered a string of public challenges in the past year as regulators intensified their scrutiny of the company and Apple rolled out a privacy feature that crimped a key source of user data. But as Meta’s wobbly revenue outlook made clear, the company is facing yet another threat to its business. The social ...

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• 4 February

  A return to normal life after Omicron requires vigilance

  For the first time in a long while, there’s good news about Covid-19. The omicron wave is cresting in the US, and in many states is already receding. A respite from Sars-CoV-2 could well follow. And if new variants eventually emerge, it may be possible to live with them — that is, without shutting businesses, always wearing masks, and social ...

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• 4 February

  Joe Biden can’t ignore North Korea’s missiles much longer

    Between Ukraine, Iran, Taiwan and Afghanistan, President Joe Biden has more than enough global problems to focus on. Unfortunately, he needs to add one more: North Korea. Dictator Kim Jong Un has ushered in the new year with a barrage of missile launches — 11 so far, including what now appears to have been the first test of an ...

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• 4 February

  Billionaire Bhatia to helm IndiGo after swing to profit

  

    Bloomberg Rahul Bhatia, the billionaire co-founder of IndiGo, is taking on a newly-created executive position of managing director at the company, after the biggest budget carrier in Asia by market value posted a surprise quarterly profit. The appointment of Bhatia, which is effective immediately, signals a truce with fellow co-founder Rakesh Gangwal, who had accused Bhatia of corporate governance ...

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• 4 February

  Kenya Air picks advisers to evaluate debt restructuring

  

    Bloomberg Kenya Airways Plc has selected financial advisers at Seabury Consulting to help the airline evaluate options to restructure its debt load, according to people with knowledge of the matter. The airline, in which the Kenyan government has a 48.9% stake, faces mounting debts and depressed passenger demand amid pandemic-related travel restrictions. A representative for Kenya Airways said the ...

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• 4 February

  Nestle to acquire majority stake in protein powder maker Orgain

  

      Bloomberg Nestle SA agreed to acquire a majority stake in Orgain, a maker of plant-based protein powders and other products, expanding its nutrition portfolio. Butterfly Equity and Orgain founder Andrew Abraham will keep a minority stake, staying on as chief executive officer, the companies said, confirming an earlier report by Bloomberg about the sale. Financial details weren’t disclosed, ...

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• 4 February

  Starbucks decline eases after coffee chain updates outlook

  

      Bloomberg Starbucks Corp. shares pared an earlier loss in late trading after the company released an updated forecast that only projects a slight impact on profits despite a surge in costs related to labor and the ongoing pandemic. The company now sees earnings per share falling 4% to 6% in its current fiscal year, versus a prior view ...

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• 4 February

  Sydney Airport $17b sale to funds approved

    Bloomberg Sydney Airport shareholders overwhelmingly approved a A$23.6 billion ($17 billion) deal to sell the company to a consortium of funds, transferring Australia’s main international gateway to private ownership after the pandemic hammered earnings. Some 96% of votes cast at a shareholder meeting on Thursday backed the sale to a group led by IFM Investors Pty for A$8.75 a ...

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