June, 2021

• 21 June

  The best way to judge any green energy policy

  Energy policy is often judged by three criteria: cost, reliability and effect on carbon emissions. That makes good sense. The energy sector is remarkably politicised. The current infrastructure could probably not be built under the regulatory regime, which may also hinder the development of tomorrow’s green-energy infrastructure. It is not easy to put wind turbines next to the homes of ...

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• 21 June

  California, Texas fail the power test together

  Are Texas and California really so different? They certainly look different from the rest of the country in one respect. For all their contrasts, Texas and California are currently united in asking their respective populations to unplug appliances and forgo the air conditioning. Both have experienced blackouts of some form in the past year, and both have issued warnings about ...

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• 21 June

  Britain to keep restrictions on overseas travel in place

  

  Bloomberg The UK government signalled it will keep restrictions on overseas travel in place for now to control a surge in coronavirus infections and the risk of new variants of the virus taking hold. Justice Secretary Robert Buckland said “normal” holidays were “never going to be the case” this year because of increasing Covid-19 cases. His comments indicate increasing concern ...

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• 21 June

  ‘FAA must regulate, not promote space industry’

  

  Bloomberg The US government’s edict to both regulate and promote the rapidly growing commercial space industry is a conflict of interest and must end, a senior lawmaker said. Representative Peter DeFazio, the Oregon Democrat who is chairman of the Transportation and Infrastructure Committee, said he would introduce legislation to alter the Federal Aviation Administration’s mandate. The committee heard comments on ...

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• 21 June

  Air New Zealand sees more losses due to closed borders

  

  Bloomberg Air New Zealand expects to suffer at least three straight years of losses as the pandemic continues to keep international borders closed and severely restrict long-haul travel. The airline will post a loss before significant items and tax of as much as NZ$450 million ($315 million) for the year ended on June 30 and foresees a “comparable” result in ...

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• 21 June

  UK’s Morrison rejects $7.6b takeover proposal from CD&R

  

  Bloomberg Wm Morrison Supermarkets Plc rejected as undervalued an unsolicited proposal from US buyout firm Clayton Dubilier & Rice LLC that valued the UK grocery chain at about 5.5 billion pounds ($7.6 billion). Morrison received a proposed cash offer at 230 pence a share on June 14 and rejected it three days later after discussions with its adviser Rothschild & ...

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• 21 June

  Ares sued by Millette’s Hudson debt fund over aircraft loan

  Bloomberg Ares Management was sued by a specialist credit fund co-founded by a former Goldman Sachs Group Inc partner over the sale of collateral on a loan to a struggling Norwegian airline. Hudson Structured Capital Management Ltd claims that several Ares funds that held the notes directed that aircraft used as collateral be sold to an Ares affiliate, despite a ...

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• 21 June

  Private jet sales boom as rich buy up

  Bloomberg The coronavirus pandemic has created an overhang of pent-up travel demand and left unspent money burning holes in the pockets of the well-to-do. Put the two together and the result is a hunger for private jets. Buyers have scooped up so many of the good used planes out there that they’re now getting on waiting lists to purchase new ...

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• 21 June

  Japan’s refusal to sanction Myanmar undermines US president’s strategy

  

  Bloomberg When hundreds of protesters gathered outside Japan’s embassy in Yangon during the height of nationwide anti-coup protests in February, Ambassador Ichiro Maruyama emerged from the gates with a firm warning for the junta: Release the detained civilian leadership “immediately.” The remarks, delivered in Burmese, drew applause from pro-democracy demonstrators hoping Japan would take concrete action to pressure Myanmar’s military, ...

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• 21 June

  Draghi calls for more stimulus in Europe to restore prosperity

  

  Bloomberg Italian Prime Minister Mario Draghi made a bold call for more economic stimulus in European countries to help bring growth back to pre-pandemic levels. “Protracted uncertainty means that the case for monetary and fiscal expansion remains compelling,” the former European Central Bank (ECB) chief said in speech in Barcelona. “We will not reach this objective without additional effort. So ...

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