Qantas Airways Ltd came within 11 weeks of financial collapse at the height of the pandemic when travel came to a standstill and the airline continued to haemorrhage cash, Chief Executive Officer (CEO) Alan Joyce said. At a lunchtime speech in Sydney on Monday, Joyce said that in early 2020 he was receiving weekly reports from his finance team that ...

The second-biggest airport in the Philippines has been closed after a Korean Air Lines Co. plane overshot the runway when trying to land in poor weather. While no one was injured in the incident that occurred, and the 162 passengers on board were safely evacuated, the runway at the Mactan-Cebu International Airport has been closed to allow the badly damaged ...

The US travel industry expects this holiday season to be busy enough to make last summer’s turmoil seem orderly. Airport officials and industry analysts say passenger traffic for the November 24 Thanksgiving holiday through New Year’s is set to reach or exceed 2019 levels, when 93 million people packed US flights. This summer, the desire to resume vacationing and visiting ...

America’s closest allies are nervously watching US midterm elections for any signals that voters could return Donald Trump to the White House in two years, with foreign officials fanning out to battleground states for meetings to collect information that might help avoid a 2016-like shock. Officials from Europe and Asia are flying from their home countries to augment the traditional ...

The two Koreas fired warning shots at each near a nautical border after Seoul said a merchant vessel from its neighbor crossed the line, adding to a recent series of provocations along one of the world’s most militarized boundaries. South Korea’s military said it fired warning shots after the North Korean vessel violated the western sea border at 3:42 a.m. ...

Credit Suisse Group AG agreed to pay $234 million to settle a French criminal probe into allegations the bank helped clients stash undeclared funds. The deal brings to an end the investigation into suspicions of laundering of tax fraud proceeds, top financial prosecutor Jean-Francois Bohnert said in court on Monday. Under the terms of the agreement, the Swiss bank makes ...

South Korea is redoubling efforts to shore up the local credit market as yields surge to decade highs and default risks spread, extending efforts to support markets after the country already stepped in earlier this year to slow a tumbling won. Authorities will swiftly resume buying corporate debt via a 1.6 trillion won ($1.1 billion) bond stabilisation fund established at ...

India is pushing for a valuation of around 640 billion rupees ($7.7 billion) for state-owned IDBI Bank Ltd. in what could be the biggest sale of the government’s stake in a lender in decades, according to a person familiar with the matter. The government earlier this month invited bidders for a 60.72% stake in the Mumbai-listed lender. The valuation target ...

Deutsche Bank AG has given its clearest indication yet of how it plans to deliver on the commitment it made last year to reach net-zero financed emissions by 2050. Germany’s biggest bank said in a statement that it will “significantly” reduce its so-called Scope 3 emissions, which are also known as financed emissions, by 2030 and announced a set of ...

China’s lurch towards one-man rule has made it more important than ever for investors to align their portfolios with the priorities of President Xi Jinping. Some are deciding it’s not worth the trouble. Chinese stocks tumbled by the most since 2008 in Hong Kong and the yuan hit a 14-year-low after the confirmation that Xi’s policies of stronger state control ...