Lufthansa plans to cancel 34,000 flights in the summer half-year, German business weekly WirtschaftsWoche said on Thursday, adding the number could increase as cancellations at its Eurowings and SWISS units might be added. “Lufthansa has adjusted the 2023 summer flight schedule from Frankfurt and Munich,” the paper quoted a Lufthansa spokesperson as saying. The exact extent […]
BP (BPL) will buy truck fueling provider Travel Centers of America Inc for about $1.3 billion, the companies said on Thursday, as the British energy giant seeks to expand its retail network in a bet on biofuels and electric vehicle charging. Shares of the U.S. truck stop operator surged about 70% to $84.3 in morning trading, hovering near […]
Electric vehicle maker Tesla Inc (TESLA) has sold out its Model Y for this quarter in the United States, with no more production builds until April, Electrek reported on Wednesday, citing sources familiar with the matter. The expected delivery date for the fully electric, mid-sized sports utility vehicle (SUV) to U.S. customers is now April-June 2023, the carmaker’s website showed, […]
Persistent, high levels of nonperforming loans could undermine bank lending and economic recovery in Asia’s developing countries. The global economy is facing growing headwinds amid rising interest rates, heightened geopolitical tensions, and lingering pandemic effects. The economic slowdown and rising interest rates could lead to higher nonperforming loans as it becomes more challenging for borrowers […]
Countries’ monetary policies have addressed the current inflation crisis with a strict national focus. As global spillovers from these policies are significant and create the risk of turmoil in the international debt market, there could be a case for cross-border policy cooperation. This column draws on theory to gain insight into why we do not […]
US domestic-owned multinational enterprises may impact firms and workers differently from foreign-owned ones. Assessing these potential differences requires detailed information on firm ownership and operations. This column describes findings from novel crosswalks linking the US Census Bureau’s Business Register and direct investment surveys conducted by the US Bureau of Economic Analysis. These newly available crosswalks […]
British employers expect to raise wages for their staff by the most in at least 11 years but the 5% pay deals for workers would still fall well below expected inflation, a survey published on Monday showed. With the Bank of England fearing the surge in inflation could be harder to tame if pay deals […]
Prime Minister Rishi Sunak welcomed a mega deal by Air India to buy 250 jets from Airbus , saying it would create jobs and boost exports from Britain, where the French plane maker designs and makes aircraft wings. The deal should create 450 manufacturing jobs and bring more than 100 million pounds ($122 million) of investment to […]
LVMH’s top fashion brand Louis Vuitton is expected to increase prices in China by as much as 20%, as luxury labels bank on a strong rebound of Chinese demand following the easing of COVID-19 lockdowns. Louis Vuitton, the world’s biggest luxury brand, last February led the way to a string of price hikes from some of the industry’s […]
Britain’s FTSE 100 closed marginally higher on Tuesday, paring early gains as mixed U.S inflation data did little to soothe concerns about further Fed tightening, while strong gains by Vodafone drove other telecom stocks higher too. The blue-chip FTSE 100 closed up 0.08% after hitting a record high during the session, while the FTSE 250 midcap […]
