Bloomberg It could be one of the world’s most expensive white elephants. Hong Kong opened its new, third runway at its airport, part of a HK$141.5 billion ($18 billion) project that will increase its footprint by 50%, adding 650 hectares (1,606 acres), equivalent to the size of Gibraltar. Also under construction is a HK$20 billion entertainment, retail and commercial ...

  Bloomberg Wizz Air Holdings Plc is cutting 5% of its capacity over the peak summer travel period to reduce the impact of a staffing crisis that’s plaguing the industry. The low-cost carrier’s reductions, announced in a statement, will add to travel disruptions across Europe after companies including British Airways, KLM and Deutsche Lufthansa AG scrapped flights as demand bounced ...

Bloomberg Two of Europe’s biggest airlines announced another round of cancellations, adding to the disruption turning the travel sector’s pandemic recovery summer into a nightmare. The Dutch arm of Air France-KLM plans to cancel as many as 20 round-trip flights to European destinations every day through the end of August. Deutsche Lufthansa AG said it will cancel 770 flights this ...

Bloomberg The cost of Lurpak butter is emerging as the new flash point in Britain’s cost-of-living crisis, requiring security tags in stores and spawning a controversy that’s placed its owner, Arla Foods, on the defensive. “We understand that recent inflation in food prices is hitting many households really hard,” an Arla spokesperson said by email after the dairy firm’s Lurpak ...

  Bloomberg Spirit Airlines delayed for a third time a crucial shareholder vote so it can continue discussions of its merger options with Frontier Group Holdings and rival suitor JetBlue Airways. The special meeting was delayed until July 15, Spirit said in a statement. While Spirit will continue to solicit shareholder proxies, there won’t be a vote or other business ...

  Bloomberg Tesco Plc and food giant Kraft Heinz Co have settled a dispute over price increases which left the UK’s biggest supermarket chain without products including brand-name ketchup and baked beans. The full range of Heinz products will now return to Tesco shelves and its online shopping site in the coming days, the two companies said in a joint ...

Bloomberg After months of persistent street protests over fuel shortages, surging prices and financial mismanagement, Sri Lankan leader Gotabaya Rajapaksa is finally on the verge of being ousted. The president fled to an undisclosed location shortly before demonstrators stormed his official seaside residence in the face of tear gas and rubber bullets. In dramatic scenes, they wandered through the rooms, ...

Bloomberg Nearly two-thirds of Democratic voters say they would prefer someone other than President Joe Biden as their party’s candidate in the 2024 election, underscoring the political headwinds the White House faces as inflation soars and Americans sour on the president’s performance. Of the 64% of respondents who said they wanted a different candidate in the upcoming election, a third ...

Bloomberg US Secretary of State Antony Blinken blasted Beijing over its support of Russia after emerging from more than five hours of talks with his Chinese counterpart Wang Yi. During a meeting on the sidelines of a Group of 20 foreign ministers meeting in Bali, Indonesia, Blinken said he told Wang that China wasn’t neutral on the Ukraine war because ...

Bloomberg Australian Prime Minister Anthony Albanese has ruled out complying with a list of demands from the Chinese government to improve relations between the two countries, complicating attempts to repair diplomatic ties between Canberra and Beijing. Speaking to the press in Canberra on Monday, Albanese said Australia “doesn’t respond to demands” when asked about a statement by China’s Foreign Minister ...