Bloomberg FedEx Corp’s profit warning this week hit a nerve with global markets already jittery over the state of the economy. Shares of the delivery giant sank 21% last week, wiping out $11 billion in market value, and dragging the broader market to its worst week since June, as the results fuelled concern of weaker e-commerce and business-to-business activity. ...

Bloomberg Senator Elizabeth Warren urged federal airline regulators to block JetBlue Airways Corp’s proposed merger with Spirit Airlines Inc. by invoking a rarely used authority from the 1950s to argue that the $3.8 billion deal isn’t “consistent with the public interest.” In a letter to Transportation Department Secretary Pete Buttigieg, Warren, a Massachusetts Democrat, said the agency could use its ...

  Bloomberg Virgin Australia is reluctant to resume long-haul services even as demand for international travel soars, Chief Executive Officer Jayne Hrdlicka said, as the airline seeks to rein in costs and prepares for an initial public offering as soon as next year. “Anything that we did from a long-haul standpoint would have a very high hurdle on it,” Hrdlicka ...

  Bloomberg US aviation regulators struck back at major carriers’ reliability after the head of United Airlines Holdings Inc called the government’s air-traffic system “by far the No. 1” cause of flight delays. United Chief Executive Officer Scott Kirby made the comments in Washington during a conference. Within hours, the Federal Aviation Administration (FAA) issued a statement, including a chart ...

  Bloomberg Amazon.com Inc will let brands and merchants send marketing emails to shoppers, a risky bid to boost sales that could inundate inboxes with spam. The company announced the initiative at the Amazon Accelerate conference in Seattle, where it demonstrates new features to the independent businesses that sell more than half of the products on Amazon.com. Merchants will be ...

  Bloomberg Cathay Pacific Airways Ltd expects to fly one-third of its pre-Covid capacity by the end of the year, up from 25% previously projected as Hong Kong gradually loosens restrictions on travel, including lengthy mandatory quarantine stays. The recovery will take time as Hong Kong’s main airline returns its fleet to service and trains staff after operating at as ...

Bloomberg President Joe Biden said Vladimir Putin would face a “consequential” US response if the Russian president used nuclear or chemical weapons in the war in Ukraine. “Don’t. Don’t. Don’t,” Biden said in an excerpt from an interview with CBS’s “60 Minutes” when asked what he would say if Putin were considering using tactical nuclear weapons or chemical weapons in ...

Bloomberg Turkey is seeking membership to the China-led Shanghai Cooperation Organization as President Recep Tayyip Erdogan attempts to forge alliances with friendly countries in the East. Erdogan made the announcement after attending the SCO summit in Uzbekistan on Friday where he held talks with leaders including China’s President Xi Jinping and Russian President Vladimir Putin. A successful bid would make ...

Bloomberg Liz Truss’s government was barely into its stride when the UK was thrust into a state of suspended animation following the death of its longest-serving monarch, Queen Elizabeth II. But after Monday’s state funeral, British politics will return full-throttle with the new prime minister back under pressure over a deepening economic crisis. Truss starts the week by flying to ...

Bloomberg Luiz Inacio Lula da Silva is launching an offensive to sway supporters of President Jair Bolsonaro in Brazil’s southern states, the stronghold of the right-wing incumbent. The presidential front-runner held a rally on Friday in Porto Alegre, capital of Rio Grande do Sul, before heading to Curitiba, the Parana state capital where he was kept behind bars between 2018 ...