Bloomberg European stocks retreated and bond yields tumbled as comments by Federal Reserve Chair Jerome Powell and growth data in Europe stoked fear about a global dowturn. Oil extended losses. The Stoxx Europe 600 Index slipped about 1%, with miners and energy firms posting the biggest declines. Contracts on the Nasdaq 100 flipped to gains from losses while those …

  Bloomberg SoftBank Group Corp founder Masayoshi Son is used to praise and encouragement from shareholders. But company’s loss of $34 billion in market value over the last year is a test for even his most faithful admirers when they gather for the annual shareholders’ meeting. Investors stuck by Son when SoftBank announced a holding company strategy in 2015 to …

  Bloomberg At least 1,000 people have been killed and hundreds more injured after a powerful earthquake hit southeastern Afghanistan overnight, setting off a new humanitarian crisis in a country already facing a crumbling economy and hunger. The eastern Paktika province was the worst hit, Sharafuddin Muslim, the deputy state minister for Disaster Management said. The state-run Bakhtar News agency …

Bloomberg Kellogg Co said it will split into three independent companies, sparking a rally in the food conglomerate’s shares. The maker of Froot Loops and other well-known breakfast cereals said the companies would focus on global snacking, North American cereals and plant-based foods — giving each greater autonomy and room for growth. The breakup will occur through two tax-free spinoffs, …

  Bloomberg Philippine carrier Cebu Air Inc expects to bring back its workforce size to before the Covid-19 pandemic by early next year, President and CEO Lance Gokongwei said. Workers who were laid off due to the pandemic are being prioritised for rehiring, Gokongwei told reporters. There’s enough supply of pilots and cabin crew in the Philippines, unlike in other …

Bloomberg EasyJet Plc’s Spain-based cabin crews are planning nine days of strikes in July, potentially piling on the pain for holidaymakers as European airports grapple with labor protests and shortages. Walkouts are planned for July 1-3, 15-17 and 29-31 with as many as 450 staff at Barcelona, Malaga and Palma de Mallorca airports set to take part in the stoppages, …

  Bloomberg A passenger jet with 126 people on board burst into flames when its landing gear collapsed after touchdown at Miami International Airport. Three people suffered minor injuries. The accident, involving a McDonnell Douglas MD-80 aircraft operating as Red Air Flight 203 from the Dominican Republic, occurred around 6 pm local time, the Federal Aviation Administration said in an …

  Bloomberg The Italian government is likely to select a buyer for new national airline Italia Trasporto Aereo in the “next few weeks,” according to the carrier’s CEO, Fabio Lazzerini. ITA, the successor to failed Alitalia SpA, expects a transaction to be completed by the end of the year, Lazzerini said in an interview on the sidelines of the International …

  Bloomberg The UK will give airlines a waiver from rules requiring them to use airport slots or lose them, allowing them to pull some capacity in a bid to stem the recent travel chaos. The Department for Transport said it would offer an amnesty on takeoff and landing slot regulations, which mandate airlines use them or forfeit them in …

  Bloomberg ExpressJet Airlines, a regional airline that has resumed operations after losing a key contract during the pandemic in 2020, has hired Moore Colson, an accounting and financial advisory firm, to help it fix its financial and labour problems. The carrier is looking to cut its debt load and renegotiate contracts with pilots, according to people with knowledge of …