September, 2021

• 20 September

  Johnson calls gas price surge in UK a ‘temporary’ problem

  

  Bloomberg UK Prime Minister Boris Johnson said unprecedented surge in natural gas prices is a “temporary” problem caused by the global economy bouncing back after the pandemic, arguing a “phenomenal demand for gas” in Asia has affected UK supplies. “I want to give a general reassurance that the problems we’re seeing are temporary,” Johnson told reporters travelling with him to ...

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• 20 September

  Merck plans to spend $3.5bn on electronics unit amid chip crunch

  

  Bloomberg Merck KGaA plans to invest more than 3 billion euros ($3.5 billion) through 2025 in its electronics business to capitalise on rising demand for semiconductor and display panel materials. The German company will expand production capacity, bolster research and development spending and is also considering bolt-on acquisitions, it said on Monday in a statement. Merck makes materials and technologies ...

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• 20 September

  Employment in 19 US states drop in August

  Bloomberg Employment declined in 19 states and the District of Columbia in August, while the majority of other states posted modest increases, elucidating the abrupt stepdown in US hiring seen last month. North Carolina, Iowa and Hawaii posted largest declines in employment over the month, according to Labour Department figures on state employment. Meantime, California, Texas and New York — ...

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• 20 September

  Europe facing worst corporate credit supply shortfall since 2005

  

  Bloomberg The amount of corporate bonds investors can trade in Europe is shrinking for the first time since 2005. Despite a rush in deals by high-grade non-financial firms, there’s effectively a 21 billion-euro ($25 billion) drop in the investable pool of euro bonds because of calls, buybacks, upcoming redemptions and European Central Bank (ECB) debt purchases, according to Bloomberg calculations. ...

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• 20 September

  OVH Groupe seeks $469mn in Paris IPO

  Bloomberg OVH Groupe SAS kicked off an initial public offering in Paris, looking to raise as much as $469 million that will give the cloud-storage provider funding to finance its competition with Amazon.com Inc. and accelerate its international expansion. Existing holders will also sell shares in the IPO, the company said in a statement on Monday. OVHcloud was valued at ...

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• 20 September

  Facebook rebuffs Journal reports, citing policy trade-offs

  

  Bloomberg Facebook Inc pushed back on reports that the company was aware of the negative impact of its products, claiming that the allegations don’t tell the whole picture. The issues of content moderation, mental health risks and misinformation are complex and defy simple policy solutions, according to a statement from Nick Clegg, Facebook’s head of global affairs. He said the ...

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• 20 September

  Bond sales wake from slumber as Fed talk jolts emerging markets

  

  Bloomberg Emerging-market bond sales are springing back to life before this week’s Federal Reserve meeting, as renewed speculation over imminent tapering prompts borrowers to raise money while it’s still cheap. The past week shattered a summer lull for dollar- and euro-denominated debt, bringing $36 billion of issuance from governments and companies after the previous 10 weeks saw only $90 billion ...

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• 20 September

  Stocks slump amid Fed, China risks; dollar gains

  

  Bloomberg Stocks in Europe plunged and US equity futures declined at the start of a week abounding with risks including spillover from China Evergrande Group’s debt woes, falling commodity prices and the Federal Reserve policy meeting. The Stoxx Europe 600 index dropped 1.6%, on track for the biggest decline in two months. Raw materials led the broad-based retreat as iron ...

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• 20 September

  UAE’s ERC inaugurates multiple development projects in Comoros

  

  MORONI / WAM The Emirates Red Crescent (ERC) inaugurated several development projects to support the victims of Tropical Cyclone Kenneth that struck the Comoros Islands three years ago. Some 280,000 people will benefit from the projects, which aim to support the health and education sectors by reinforcing their capacities and improving their services. The projects include the construction and maintenance ...

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• 20 September

  Empower, Mitsubishi ink largest deal in district cooling industry

  

  Dubai / WAM Emirates Central Cooling Systems Corporation (Empower) announced that it has made a new deal with Mitsubishi Heavy Industries Thermal Systems to take advantage of Mitsubishi’s revolutionary air-conditioning and heating systems, leading to a qualitative leap in Empower’s environmentally friendly district cooling operations. Under the new deal, Mitsubishi Heavy Industries Thermal Systems will supply Empower with advanced water-cooled ...

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