October, 2021

• 7 October

  Why Biden’s methane fee isn’t kind of a gas tax

  Charif Souki, who founded the biggest US natural gas-export firm and now chairs another called Tellurian Inc, isn’t known for mincing words. And he didn’t disappoint when tackling the issue of methane emissions at a recent event hosted by the Center for Strategic and International Studies: In the upstream, methane leaks are inexcusable. They’re avoidable. The technology is available to ...

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• 7 October

  Walmart shifts US operations chief amid supply-chain woes

  

  Bloomberg Walmart has demoted the chief operating officer of its core US business and installed a finance expert in the role, shuffling its senior leadership team just before the key holiday period. Dacona Smith, one of the retailer’s highest-ranking Black executives, will shift to become executive vice president and chief operations officer of Walmart’s US stores, unit Chief Executive Officer ...

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• 7 October

  Tesco CEO prepares to avoid Christmas supply chain snags

  

  Bloomberg Tesco Plc’s boss is putting the finishing touches on a plan to deliver a catastrophe-free Christmas as a deepening supply chain crisis makes it harder for grocers to keep shelves stocked with their full range of products. Chief Executive Officer Ken Murphy said Britain’s biggest supermarket has ordered 10% more turkeys this year and is increasing the number of ...

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• 7 October

  Hong Kong can retain global aviation hub status, says Lam

  

  Bloomberg Even though Hong Kong is one of the few places left in the world adhering to a Covid-zero approach, the city’s Chief Executive Officer Carrie Lam believes the Asian financial center can retain its status as an international aviation hub. “Although the global aviation industry, with Hong Kong being no exception, has been hard hit by the Covid-19 pandemic, ...

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• 7 October

  TUI plans $1.3 billion stock sale to reduce pandemic debt pile

  

  Bloomberg TUI AG will raise 1.1 billion euros ($1.3 billion) by selling new stock, making it the latest travel company to tap investors for cash to reduce a giant pandemic debt pile. The share sale, at a discount price of 2.15 euros each in a rights offering, will allow the world’s biggest tour operator to reduce its draw on a ...

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• 7 October

  Amazon boom pushes startup to $2b valuation

  

  Bloomberg Booming e-commerce sales have made a unicorn out of a Utah-based startup that helps companies manage their sales on Amazon.com Inc and other digital marketplaces. Pattern Inc, which started out selling fridge magnets and other trinkets on Amazon’s third-party marketplace, on Wednesday said it raised $225 million in new outside investment at a valuation of about $2 billion. Founded ...

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• 7 October

  Mazars probed over its audit of French Connection Group

  Bloomberg The UK’s auditing watchdog has started an investigation into Mazars’ audit of French Connection Group Plc. The Financial Reporting Council said on Wednesday the probe would focus on the year ending on January 31, 2020 without disclosing further details. The struggling UK fashion retailer has failed to keep pace on price with its high street rivals and has been ...

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• 7 October

  Mondelez to require US office workers to be vaccinated

  Bloomberg Mondelez International Inc will require employees at its offices in Chicago, Miami and East Hanover, New Jersey, to be fully vaccinated “as a condition of employment,” according to a statement. The maker of Chips Ahoy! cookies and Halls cough drops said that vaccine adoption “is essential to lowering case counts, preventing Covid hospitalisations and deaths and ending this pandemic,” ...

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• 7 October

  Joe Biden says he and China’s Xi will stick to ‘Taiwan agreement’

  

  Bloomberg US President Joe Biden said he and China’s Xi Jinping have reaffirmed their agreement on Taiwan, as top envoys for the two countries were expected to discuss simmering tensions over the democratically ruled island during talks in Zurich. Biden told reporters after returning from a trip to Michigan that he and the Chinese president spoke and agreed to stick ...

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• 7 October

  Afghanistan asks UN mission to pay $90m power bills

  

  Bloomberg Afghanistan’s state power company has appealed to a United Nations-led mission to give $90 million to settle unpaid bills to Central Asian suppliers before electricity gets cut off for the country given that the three-month deadline for payments has passed. Since the Taliban took control of Afghanistan from mid-August, electricity bills haven’t been paid to neighbouring countries that supply ...

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