Bloomberg The US Transportation Department awarded 16 coveted flight slots at Newark Liberty International Airport to Spirit Airlines Inc, denying requests by rivals JetBlue Airways Corp and Alaska Air Group Inc. The government said Spirit is “most likely to provide the lowest fares to the most consumers,” according to a statement. The decision gives Spirit access to times for ...

Bloomberg KLM was sued by Dutch environmental pressure groups which alleges its “Fly Responsibly” ad campaign amounts to greenwashing, in one of the first such lawsuits to hit a major airline. KLM, the Dutch arm of Air France-KLM, has run ads that give customers “the false impression that its flights won’t worsen the climate emergency,” breaching European Union rules, the ...

  Bloomberg Just Eat Takeaway.com NV’s shares jumped the most in almost four years after Amazon.com Inc agreed to take a stake in its Grubhub business. The stake is part of a partnership where Amazon will offer US Prime users a one-year membership to the food delivery service, the Dutch company said in a statement. The deal is a vital ...

  Bloomberg The Italian government has received offers from foreign bidders for its new national airline Italia Trasporto Aereo, or ITA, the successor to long-troubled carrier Alitalia, according to people familiar with the matter. The offers are about 200 million euros ($205 million) lower than the initial ones, said one of the people who declined to be named because the ...

  Bloomberg Supermarket shoppers in Britain are increasingly opting for own-brand labels in a bid to save pennies on groceries. J Sainsbury Plc is seeing some customers switch into economy own-label goods and rival Tesco Plc said last month that clients are moving to store-brand versions of bread, pasta and beans. Households could save $649 a year by switching from ...

  Bloomberg China’s central bank looks set to withdraw cash from its financial system in a sign that it’s moving towards normalising monetary policy as major global peers are forcefully raising interest rates. The People’s Bank of China (PBOC) slashed its daily short-term liquidity operation to 3 billion yuan ($447 million) this week, the smallest amount since January 2021. At ...

  Bloomberg The Bank of England (BOE) said a $2 trillion plunge in the value of cryptoassets underscores vulnerabilities in the market and the need for tougher law enforcement and regulation. The market capitalisation of digital assets has tumbled to about $900 billion from a peak of almost $3 trillion in late 2021, the BOE’s Financial Policy Committee said. The ...

  Bloomberg Inflation forecasting errors may have risen in India due to climate change, impacting food as well as fuel inflation, and that may require more rate hikes from the central bank to anchor prices, according to HSBC Holdings Plc. “Although inflation in India has always been susceptible to supply shocks, climate change-induced surprises are making it more volatile and ...

  Bloomberg Australia and New Zealand Banking group Ltd (ANZ) is weighing reviving a stake sale in PT Bank Pan Indonesia, according to people with knowledge of the matter. ANZ has started preliminary talks with interested parties including other banks and tycoons in Indonesia, said the people, who asked not to be identified as the process is private. Shares of ...

  Bloomberg Credit Suisse Group AG is cutting more than two dozen front line roles at the investment bank in Asia as the Swiss lender grapples with losses and a weakening outlook for the global economy, people familiar with the matter said. The reductions in recent weeks fell across businesses including deal-making and trading, the people said, asking not to ...