December, 2020

• 23 December

  Sasol to sell gas plant in Mozambique

  Bloomberg Sasol has agreed to sell its stake in a 175-megawatt gas-fired power plant in Mozambique to Azura Power for about $145 million as part of an accelerated disposal program to pay down debt. The sale of its 49% shareholding in the Central Termica de Ressano Garcia plant is subject to conditions including a pre-emption right by state-owned Electricidade de ...

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• 23 December

  Apple-Tesla showdown to happen on factory floor

  

  It was kind of inevitable that Tesla Inc’s biggest challenger wouldn’t be a car company. Apple Inc makes for the perfect nemesis and could teach its California cousin a thing or two about reliability and delivery. For years, there’s been speculation that Apple would join the electric vehicle race, with teams formed and development under way. Yet the program also ...

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• 23 December

  Christmas cancelled for UK, Johnson

  

  Things couldn’t feel less festive in Britain right now. There’s a new — apparently homegrown — virus mutation, rising Covid case numbers, the cancellation of Christmas gatherings, and stalled Brexit talks. Now Europe has put the UK into isolation, closing borders because of worries about the new Covid strain. It isn’t just Christmas travellers who face disruption. Some 10,000 large ...

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• 23 December

  Zuckerberg’s another answer to Bitcoin

  Last year’s backlash against Facebook Inc’s planned digital currency Libra would have been most CEOs’ worst nightmare. Governments and regulators linked arms to repel a perceived threat to monetary sovereignty, financial stability and data privacy. Mark Zuckerberg tried to reassure politicians by talking up financial inclusion and innovation. He even acknowledged the problem: “I get that I’m not the ideal ...

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• 23 December

  Now, Fed needs more emergency powers

  The pandemic relief deal that Congress struck is long overdue. Unfortunately, the package includes a provision that threatens to make this and future crises worse — by limiting the emergency powers of the Federal Reserve. At issue is Section 13(3) of the Federal Reserve Act, which grants the central bank broad powers to make loans and otherwise keep money flowing ...

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• 23 December

  Amazon can ask regulators to block deal with India’s Future

  

  Bloomberg An Indian court allowed Amazon.com Inc to oppose Future Group’s $3.4 billion asset sale to Mukesh Ambani’s conglomerate but left it to local regulators to decide on the deal, in a mixed ruling for the US giant fighting Asia’s richest man for dominance in one of the world’s largest retail markets. The Delhi High Court said on Monday it ...

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• 23 December

  EasyJet agrees aircraft deferral with Airbus

  

  Bloomberg EasyJet Plc shares rose after the UK airline said it will defer the delivery of another 22 Airbus SE jets to conserve cash as the coronavirus crisis continues to depress travel demand. Europe’s second-largest discount carrier will postpone the handovers, which were due over a three-year period starting in October 2021, to the 2027-2028 period. The timing of 15 ...

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• 23 December

  US airlines secure $15b payroll reimbursement

  Bloomberg The pandemic aid package negotiated by Congressional leaders includes $15 billion to reinstate payroll reimbursements to airlines that expired two months ago, according to two people familiar with the legislation. The legislation is similar to provisions in an earlier pandemic aid package that expired on October 1, which barred layoffs and came with other restrictions. The tentative agreement also ...

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• 23 December

  Nike gains after e-commerce, China fuel return to growth

  

  Bloomberg Nike Inc gained in late trading after second-quarter revenue and profit topped Wall Street’s expectations, bolstered by e-commerce sales and rebounding growth in China. Sales rose 8.9% to $11.2 billion in the quarter ended on November 30, the athleticwear company reported. Analysts had projected $10.6 billion. Earnings grew to 78 cents a share, compared with a 62-cent estimate. The ...

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• 23 December

  US senate finds Boeing ‘inappropriately influenced’ Max tests

  

  Bloomberg A Federal Aviation Administration (FAA) test to gather data on returning the Boeing Co 737 Max to service was improperly influenced by the company, according to a US Senate investigative report. The 101-page report, based on a whistle-blower account, alleged that the FAA and Boeing officials were attempting to create “a pre-determined outcome” by essentially coaching pilots before testing ...

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