September, 2021

• 26 September

  Airbus’s production ramp-up ‘curbed’ by supply-chain woes

  

  Bloomberg Airbus SE’s push to quickly scale up production as air travel recovers from the Covid-19 pandemic is testing suppliers that have struggled to hire enough workers and secure raw materials. Back in May, the European planemaker said it would increase output of its best-selling A320 family of aircraft to 45 per month by the fourth quarter of 2021, rising ...

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• 26 September

  United fined $1.9m for tarmac delays

  

  Bloomberg United Airlines Holdings Inc must pay $1.9 million in fines for stranding passengers on the tarmac for extended periods of time, the government announced. United kept onboard more than 3,200 passengers on 20 domestic flights and five international flights from 2015 through last February for at least three hours, the Department of Transportation said in a release. The department ...

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• 26 September

  Nordic Aviation creditors all set to take stake in jet lessor

  Bloomberg Creditors of Nordic Aviation Capital AS are one step closer to taking control of the company, one of the world’s largest aircraft lessors. Nordic Aviation and its biggest creditor groups have reached an agreement on the outline terms of the company’s restructuring framework, according to a statement. The deal, in principle, includes the conversion of “a substantial amount of ...

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• 26 September

  Nike call shows how complicated logistics have become

  

  Bloomberg After spending a few minutes talking about triumphs at the Olympics, buzzy sneaker drops and a headquarters tour with LeBron James, Nike Inc executives spent much of the rest of their quarterly earnings call addressing something much less glamorous: logistics. “We are not immune to the global supply-chain headwinds that are challenging the manufacture and movement of products around ...

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• 26 September

  Biden summit seeks to counter China influence

  

  Bloomberg President Joe Biden and the leaders of Australia, India, and Japan made a show of unity against China, meeting together at the White House in a first-ever summit to discuss initiatives to counter Beijing’s influence across the Pacific. The group is “coming together to take on key challenges of our age, from Covid to climate to emerging technologies,” Biden ...

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• 26 September

  UK fuel crisis deepens as PM mulls easing truckers visas

  

  Bloomberg Petrol shortages are worsening in parts of the UK as more stations run dry following panic buying, as the government considers easing visa rules to attract truck drivers from Europe. Britain is short about 100,000 heavy goods vehicle (HGV) drivers licensed to operate trucks or lorries, the Road Haulage Association has estimated. To start plugging the gap, Prime Minister ...

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• 26 September

  Damage at US soybean meal export hub may take months to fix

  

  Bloomberg Shipments from a US West Coast terminal that handles almost 20% of the nation’s soybean meal exports have been curbed while damage from a crane collapse earlier this month is repaired, marking the latest setback to global trade flows. A loading boom at farm cooperative Ag Processing Inc’s export facility in Aberdeen, Washington, fell September 1 as a bulk ...

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• 26 September

  Germany slashes planned debt sales in Q4 by $4.7bn

  Bloomberg Germany cut planned debt sales in the fourth quarter by 4 billion euros ($4.7 billion), suggesting the surge in borrowing triggered by the coronavirus pandemic is receding. The federal government will raise 1 billion euros less in 15-year bonds, and trim sales of short-term discount paper by 3 billion euros compared with a plan published at the end of ...

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• 26 September

  Astra picks Ireland to build new factory in blow to UK

  

  Bloomberg AstraZeneca Plc will invest $360 million building a new manufacturing facility for small molecules in Dublin, dashing UK hopes that the drugmaker would develop the site at home. The plant will ensure that Astra’s global supply network can meet the needs of its pipeline of new medicines, the company said in a statement. The facility will create 100 highly ...

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• 26 September

  Italian electricity prices hit record highs

  Bloomberg Italian electricity prices traded near record highs, heightening government concerns about the impact soaring energy costs will have on consumer power bills. The average weekly price of power soared 17% to 163 euros ($191) per megawatt-hour last week, according to data from the country’s Energy Market Manager. Power prices are expected to climb 40% in the third quarter, Ecological ...

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