December, 2021

• 15 December

  Power spikes are cost of clinging to past in S’pore

    Think the cost of electricity in Europe — where fuel shortages and the approach of winter recently drove prices over $200 per megawatt-hour — is crazy? You should check out Singapore. The city-state has seen wholesale prices rising as high as S$2,947 ($2,184)/MWh in October and $1,121/MWh last month. Those levels aren’t even particularly unusual in Singapore’s highly liberalised ...

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• 15 December

  Is China’s surging currency a fake signal?

    Although it has been a little wobbly over the past few weeks, the performance of the US dollar this year has been extraordinary. It has strengthened against just about every currency of consequence even though inflation pressures in the US have been worse than expected and the Federal Reserve has done nothing to counter them. Also remarkable is that ...

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• 15 December

  Boeing’s pilot charged in 737 Max crash is a ‘scapegoat’: FAA

  

    Bloomberg Federal Aviation Administration (FAA) officials have approached US prosecutors to warn them that the lone person charged with a crime after the two fatal crashes of Boeing Co’s 737 Max is being made a “scapegoat,” according to a court filing in the case. Statements by the Department of Justice after it indicted Mark Forkner, Boeing’s former chief technical ...

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• 15 December

  Covid-19: UK to scrap hotel quarantines for Southern Africa arrivals

  

    Bloomberg The UK will remove all 11 countries from its so-called Covid-19 red list, paving a way for the reopening of travel to South Africa and other countries just as the peak Christmas season gets underway. The travel bans and hotel quarantine requirements for people arriving from the nations, including Nigeria and Zimbabwe, will be scrapped, Health Secretary Sajid ...

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• 15 December

  Orban to delay $5b Budapest Airport deal on budget deficit

  

    Bloomberg Hungary will delay the purchase of Budapest Airport because of a ballooning budget deficit, Prime Minister Viktor Orban said. The surprise announcement, delivered at a briefing, followed a warning by central bank Governor Gyorgy Matolcsy, who said last week that the size of the purchase threatened the country’s financial stability amid record spending before elections expected in April. ...

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• 15 December

  Singapore Air picks Airbus freighters to renew cargo fleet

  

    Bloomberg Singapore Airlines Ltd signed a letter of intent with Airbus SE for seven A350 freighters with an option to take five more as the carrier phases out its aging cargo fleet. Delivery of the planes will start in the fourth quarter of 2025, Singapore Airlines said in a statement, without providing a dollar amount. The deal means the ...

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• 15 December

  Nike acquires virtual sneaker maker

  Bloomberg Nike Inc is acquiring a virtual collectibles company as it dives further into the metaverse. The sportswear giant agreed to buy RTFKT, a business founded in 2020 that creates digital products like sneakers and uses blockchain technology to ensure authenticity, according to a statement. Financial terms of the deal were not disclosed. “This acquisition is another step that accelerates ...

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• 15 December

  Big EU states resist push for fast Russia sanctions over Ukraine

  

    Bloomberg Leading nations of the European Union (EU) are resisting a push to quickly draw up specific sanctions and other punishments to impose on Russia if it invades Ukraine, even as the Kremlin shows no sign of backing off a massive troop buildup near its neighbour. Germany, France, Italy and Spain want to focus now on talking to Moscow ...

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• 15 December

  Johnson faces biggest Tory rebellion over UK new Covid measure

  

    Bloomberg Boris Johnson is being squeezed from both sides of the argument over how to tackle a “staggering” surge in Covid-19 omicron infections — and that could have dangerous implications for the UK. The prime minister suffered the biggest Conservative rebellion of his tenure, as 100 members of Parliament opposed his strategy for clamping down on the new coronavirus ...

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• 15 December

  Dutch leader Rutte seals coalition deal

  

    Bloomberg Prime Minister Mark Rutte reached a coalition deal nearly nine months after the Dutch general election, marking the longest negotiations in the nation’s history. Rutte, who is expected to be named prime minister once again, presented the agreement between his Liberal party and three partners in the hall of the Dutch parliament building in The Hague. “It took ...

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