Blog Layout

Air Canada drops after cutting summer flights as delays drag

  Bloomberg Air Canada shares dropped after the company said that it will make “meaningful” reductions to its summer flight schedule in order to quickly bring passenger volumes down to a manageable level. Canada’s largest air carrier fell 6%, recovering slightly from an 8.8% tumble in intraday trading — its biggest drop since early March — as investors balked at ...

Read More »

Gucci’s former London headquarters on sale for $66.6m

  Bloomberg Gucci’s former London headquarters is being offered for sale for £55 million ($66.6 million) after being transformed into the most expensive house currently on the market in the capital’s Mayfair district. The house, also available to lease for £40,000 a week, includes eight bedrooms, a garden terrace, a swimming pool, conservatory and sun room. Demand for London’s best ...

Read More »

Delta’s CEO apologises for ‘unacceptable’ flight delays

  Bloomberg Delta Air Lines’s chief executive officer apologised to customers for an “unacceptable” level of cancelled and delayed flights, an unusual step that reflects mounting frustration among waylaid summer travelers. Delta is adding extra boarding time for flights, building in more of a buffer in crew schedules to mitigate disruptions and using white collar salaried workers to help speed ...

Read More »

Walgreens’ outlook spooks investors

  Bloomberg Walgreens Boots Alliance Inc maintained its guidance for 2022 earnings even as the drugstore chain beat Wall Street’s estimates for fiscal third-quarter profit and revenue, another hiccup after it abandoned the planned sale of its UK pharmacy unit. Adjusted earnings were 96 cents a share, Walgreens said in a statement, compared with the average estimate of 94 cents, ...

Read More »

Australian PM visits France to repair ties after sub fight

Bloomberg Australian Prime Minister Anthony Albanese promised a “new dawn” in relations with France after arriving in Paris for a meeting to repair relations damaged over the unexpected cancellation of a billion-dollar submarine contract in 2021. Outside the Elysee palace, the premier was greeted by President Emmanuel Macron who said he too wanted to “speak about the future” and doesn’t ...

Read More »

China hits back at New Zealand’s Ardern after Nato comments

Bloomberg China has responded to New Zealand leader Jacinda Ardern’s warning at the Nato summit that Beijing is becoming increasingly assertive and more willing to challenge international norms. “We have taken note of the relevant comment made by the New Zealand side at the Nato session, which includes some misguided accusations against China,” a spokesperson at the Chinese Embassy in Wellington said in a statement on its website dated June 30. The prime minister’s comments are “wrong” and “regrettable,” the statement said. “It is obvious that such comment is not helpful for deepening mutual trust between the two countries, or for the efforts made by the two countries to keep our bilateral relations on the right track,” the ...

Read More »

Hungary’s Orban strikes softer tone on sanctions, Ukraine

  Bloomberg Hungarian Prime Minister Viktor Orban appeared to strike a milder tone regarding Europe’s policy on Ukraine, all the while proceeding with a controversial nuclear project backed by Russia. Hungary won’t keep standing in the way of European Union sanctions except on vital matters of energy policy, he told public radio in an interview. While Budapest will still oppose ...

Read More »

Ecuador protest ends with indigenous groups, government deal

Bloomberg Representatives of indigenous organizations and Ecuador’s embattled government signed an agreement to end more than two weeks of nationwide protests over fuel prices and the high cost of living. Mediated by the Catholic Bishops Conference, the government of President Guillermo Lasso agreed to increase subsidies at the pump. With other measures pledged by the conservative administration, the total is ...

Read More »

War’s no excuse for Kenya food crisis

Bloomberg Kenya’s Deputy President William Ruto dismissed comments by his boss that Russia’s invasion of Ukraine is partly to blame for higher living costs, vowing to boost farming if he wins the presidency in August. Ruto pledged to invest at least 500 billion shillings ($4.2 billion) in agriculture and small businesses over five years. That investment would include providing animal ...

Read More »

Bolsonaro’s cash handouts proposal grows in Congress

  Bloomberg President Jair Bolsonaro’s proposal to help Brazilians suffering with inflation is becoming more expensive as lawmakers add more benefits to the original bill about three months before general elections. The bill’s latest price tag is 41.3 billion reais ($7.9 billion) after lawmakers included cash handouts to cab drivers and small farmers, before it was approved in a landslide ...

Read More »
Send this to a friend