November, 2021

• 2 November

  Climate pacts have failed before they succeeded!

  

  The history of United Nations climate conferences is a history of failure. That comes with the territory. If anyone meeting was to solve all the problems of preventing catastrophic global warming, there would be no need for any further action. That’s the best way to think about the disappointing outcome of talks between the Group of 20 large economies during ...

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• 2 November

  It’s still good to be a tech company

  

  Tesla Inc became a trillion-dollar company, Apple Inc and Amazon.com Inc revealed some vulnerabilities, and FAANG became … MAANG? MANGA? MAGMA? It was a week of redefining the tech landscape. Let’s dive in to the details. Mark Zuckerberg stood in front of some BBQ sauce and revealed to the world Facebook Inc’s new name: Meta Platforms Inc. The name is ...

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• 2 November

  How science fiction shaped Tesla’s Musk

  Where does Elon Musk get his ideas from? What is he trying to achieve and who does he want to be? Many of us are desperate to understand the world’s richest man, whose electric vehicle maker Tesla is now, according to the stock market, worth a trillion dollars. Jill Lepore, a historian at Harvard University, suggests Musk was shaped by ...

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• 2 November

  Will Big Oil’s ‘Friday feeling’ stay forever?

  More than most weeks, Big Oil had reason to cheer the arrival a Friday. The day before, the CEOs of Exxon Mobil Corp, Chevron Corp and other industry bigwigs had been called to Congress (virtually) for one of those hearing/shellacking rituals, where they were accused of hiding the dangers of climate change. The latest UN climate summit kicked off in ...

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• 2 November

  Ryanair all set to drop London listing in a first blaming Brexit

  

  Bloomberg Ryanair Holdings Plc is considering delisting from the London Stock Exchange (LSE) in the latest setback to the UK’s stock market arising from Brexit. The Irish discount carrier cited compliance headaches tied to Britain’s exit from the European Union as it weighs joining a growing list of firms that are disappearing from the bourse. Dublin-based Ryanair is required to ...

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• 2 November

  Garuda Indonesia needs $1b to cut debt, stay afloat

  

  Bloomberg PT Garuda Indonesia needs at least $1 billion of additional funds to cut debt and stay afloat, as the government says it could give up its majority control of the troubled flag carrier. Garuda is currently in talks with creditors to restructure $6.3 billion worth of debt and expects to reach an agreement in the second quarter of 2022, ...

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• 2 November

  Thai Air seeks $1.5b to keep flying as int’l tourists return

  

  Bloomberg Thai Airways International Pcl plans to raise as much as 50 billion baht ($1.5 billion) in new capital as the flag carrier expands flights with the country reopening its borders to foreign tourists. The airline will borrow 25 billion baht from existing creditors and other financial institutions, said Piyasvasti Amranand, a member of the panel overseeing a court-monitored debt ...

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• 2 November

  Goldman-backed beauty startup raises cash to ride India boom

  

  Bloomberg Purplle, the Indian online beauty products retailer backed by Goldman Sachs Group Inc, is raising funds at a valuation of $630 million just as rival Nykaa is executing its initial public offering. Kedaara Capital led the fresh $75 million funding round, Purplle said in a statement. The startup will use the funds to boost innovation in beauty products and ...

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• 2 November

  China may brace for high luxury goods taxes

  Bloomberg China’s plan to reform its consumption tax system will likely entail a hike in rates on luxury goods and products that use high energy or generate significant pollution, according to analysts at China International Capital Corp (CICC). The changes will be focused in areas aligned with China’s goals of reaching carbon neutrality and “common prosperity,” CICC analysts led by ...

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• 2 November

  Biden chides Russia, China for failing to pledge more on climate

  

  Bloomberg President Joe Biden said he is disappointed that Russia and China declined to make stronger commitments to combat climate change or to send their leaders to key global meetings to address the crisis. Biden, asked about failure of G-20 nations to issue a stronger commitment on global warming, expressed regret at what the two nations have pledged. “The disappointment ...

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