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  Bloomberg Energy grid companies in the UK will have £22.2 billion ($26.6 billion) to spend on beefing up local networks as the nation’s green shift requires increasing electrification. While a huge sum, it’s 12% less than the six main network companies had proposed. The budget will cover everything from service and maintenance to upgrades on 14 local grids for ...

Bloomberg India’s economy probably expanded at a slower pace last quarter as price pressures, rising interest rates and sluggish trade tempered demand in Asia’s third largest economy. Gross domestic product is estimated to have risen 6.2% in the three months to September from a year ago, according to a Bloomberg survey of economists, cooling from a 13.51% growth reported in ...

  Bloomberg The slump in Hong Kong’s home prices will deepen next year due to the combination of rising borrowing costs, a recession and an exodus of residents, according to Natixis SA. Residential prices are expected to fall 12% in 2023 and 2% the following year, taking the drop from the peak in late 2021 to 25%, Natixis analysts led ...

  Bloomberg China’s wind turbines will get even cheaper next year, supporting exports as products from western competitors become more expensive, according to one of the country’s leading manufacturers. Export prices will drop by 15% to 20% per kilowatt of capacity in 2023, according to Zhejiang Windey Co, one of China’s top four turbine makers, as newer units become more ...

  Bloomberg Japan’s availability of jobs increased for the 10th month in October, pointing to further tightness in the labour market that will likely keep upward pressure on wages. The job-to-applicants ratio climbed to 1.35 last month, meaning there were 135 jobs offered for every 100 applicants, the labour ministry reported. It was a slight rise from 134 positions a ...

Bloomberg Godrej Industries Ltd, part of a 125-year-old Indian conglomerate, is looking to boost the number of oil palm plantations as the government aims to raise local output and cut the nation’s heavy imports. The group’s agriculture and chemicals arm Godrej Agrovet Ltd — India’s largest oil palm processor backed by Singapore’s sovereign wealth fund Temasek Holdings Pte — will ...

Bloomberg A Nato foreign minister warned that economic reliance on China is risky after what happened with Russia, even as other envoys stressed how Beijing could help push for a deal to end the war in Ukraine. “We’ve seen what dependence on Russia means to all of us in the West,” Lithuanian Foreign Minister Gabrielius Landsbergis told Bloomberg TV on ...

Bloomberg The findings of an advisory panel set up by South Africa’s parliament to probe whether there are grounds for lawmakers to take action against President Cyril Ramaphosa in connection with a scandal over a robbery at his game farm was expected to be published on Wednesday. Chief Justice Sandile Ngcobo, who headed the three-member panel, handed the report over ...

Bloomberg European Commission President Ursula von der Leyen suggested creating a special international court to probe Russian actions in Ukraine and using frozen Russian assets to help rebuild the nation. The head of the European Union’s executive arm said the bloc would try to gather international support for a “specialised court backed by the United Nations to investigate and prosecute ...

Bloomberg The European Commission recommended delaying the disbursement of crucial funding to Hungary, saying Prime Minister Viktor Orban’s government has failed to allay its concerns over graft and the erosion of the rule of law. The EU’s executive arm said member states should conditionally approve Hungary’s Covid-era recovery plan, but Budapest would first have to comply with a set of ...