Bloomberg The merger of Tata Group’s joint venture with Singapore Airlines Ltd into Air India Ltd should help consolidate the aviation sector in the South Asian nation and provide fresh growth opportunities for the flag carrier after years of mismanagement and losses. “India needs a high-quality, dependable long haul and ultra-long haul airline to meet the country’s air connectivity ...

Bloomberg Renault SA and Airbus SE are partnering to advance battery technology for next-generation cars and planes. Engineering teams from the companies will jointly research and develop solutions on energy storage, one of the roadblocks to longer-range electric vehicles, Renault and Airbus said. The partnership also will help Airbus develop tech linked to hybrid-electric aircraft. The pact reflects companies’ efforts ...

Bloomberg Italy’s new government is reviewing options for retaining oversight of ITA Airways, in a strategic volte-face that risks becoming a major stumbling block for potential suitors like Deutsche Lufthansa AG. Options under review by Prime Minister Giorgia Meloni’s government include seeking special powers to influence or veto governance or strategy of ITA following the sale of a stake to ...

Bloomberg US lawmakers are discussing a compromise measure that would allow Boeing Co to certify its final two 737 Max models without an expensive redesign while also adding new safety requirements. Talks involving Senate and House lawmakers ramped up dramatically after the Thanksgiving holiday, and Senator Maria Cantwell of Washington, the Democratic chairwoman of the Commerce Committee, has floated a ...

Bloomberg A record 196.7 million American consumers flocked to stores and e-commerce websites over the Thanksgiving holiday weekend in search of deals, according to data from the National Retail Federation (NRF). Retailers discounted generously on Black Friday and Cyber Monday this year in an effort to clear excess inventory and lure consumers who are increasingly strained by inflation. Those efforts ...

  Bloomberg Air travel in the US has broadly recovered from the depths of the pandemic, but passenger counts from the busy Thanksgiving period show it still has a way to go before returning to 2019’s record levels. Almost 24.6 million people went through Transportation Security Administration (TSA) screening from November 18 through November 28, according to agency data, down ...

  Bloomberg Energy grid companies in the UK will have £22.2 billion ($26.6 billion) to spend on beefing up local networks as the nation’s green shift requires increasing electrification. While a huge sum, it’s 12% less than the six main network companies had proposed. The budget will cover everything from service and maintenance to upgrades on 14 local grids for ...

Bloomberg India’s economy probably expanded at a slower pace last quarter as price pressures, rising interest rates and sluggish trade tempered demand in Asia’s third largest economy. Gross domestic product is estimated to have risen 6.2% in the three months to September from a year ago, according to a Bloomberg survey of economists, cooling from a 13.51% growth reported in ...

  Bloomberg The slump in Hong Kong’s home prices will deepen next year due to the combination of rising borrowing costs, a recession and an exodus of residents, according to Natixis SA. Residential prices are expected to fall 12% in 2023 and 2% the following year, taking the drop from the peak in late 2021 to 25%, Natixis analysts led ...

  Bloomberg China’s wind turbines will get even cheaper next year, supporting exports as products from western competitors become more expensive, according to one of the country’s leading manufacturers. Export prices will drop by 15% to 20% per kilowatt of capacity in 2023, according to Zhejiang Windey Co, one of China’s top four turbine makers, as newer units become more ...