City of London Deserted as Strikes Keep Office Staff at Home
London’s business districts were deserted as unions carried out consecutive days of rail strikes following a lengthy row over pay.
Bloomberg Business
China’s Giant Chip Ambitions Fall Prey to Covid Turmoil
For years, China was the world’s biggest spender on chip incentives, a scale unmatched from Washington to Tokyo. Now, the effort to combat Covid and deal with the threat of a global recession is depleting state coffers and forcing Beijing to rethink that controversial approach.
Sunak Plans Imminent UK Strike Law and Urges Unions to Talk
The UK government will unveil legislation in the coming weeks to set minimum service levels in essential sectors, while inviting trade unions in for new talks to discuss public sector pay settlements in 2023-24.
RWE and Equinor Plan Norway-Germany Hydrogen Pipeline
RWE AG and Equinor AS said they would build new hydrogen-ready gas power plants, as well as a pipeline to send the green fuel to Germany from Norway.
LME Chair Huey Evans to Step Down in Wake of Nickel Crisis
London Metal Exchange Chairman Gay Huey Evans is stepping down as the exchange continues to grapple with the fallout from the crisis in its nickel market last year.
Microsoft’s Union Ally Pushes FTC for Activision Merger Deal
(Bloomberg) — Microsoft Corp.’s newfound support for organized labor has given the company a powerful ally pushing the US Federal Trade Commission for a settlement to allow the software company’s $69 billion acquisition of Activision Blizzard Inc.
Ex-Celsius CEO Is Sued by NY for Duping Crypto Investors
Former Celsius Network Ltd. Chief Executive Officer Alex Mashinsky, whose once high-flying crypto lender went bankrupt last year, was sued for fraud by the New York attorney general — the latest fallout from turmoil in the industry.
Helen of Troy Cuts 10% of Staff in Company Restructuring
Helen of Troy Ltd., the consumer-goods conglomerate behind brands such as OXO, Osprey and Vicks, will slash about 10% of its global staff in a restructuring.
Western Digital, Kioxia Revive Merger Talks With Flash Memory Demand Sinking
Western Digital Corp. has restarted talks with Japan’s Kioxia Holdings Corp. in a deal that could unite two technology storage providers, according to people familiar with the matter.
First Abu Dhabi Bank Explored Offer for Standard Chartered
First Abu Dhabi Bank PJSC said it explored a potential bid for Standard Chartered Plc, in what would have been a complex deal aimed at building an emerging markets lender with more than $1 trillion of assets.
