Bloomberg Canada’s transport regulator has ruled that low-cost carrier Flair Airlines Ltd is “Canadian” enough to continue operating flights in the country. The discount airline has made changes to its structure and now “meets the incorporation and voting interest requirements” required by law, Canadian Transportation Agency said in its final determination. The regulator said in its preliminary determination that ...

Bloomberg Hong Kong’s retail sales surprisingly rebounded in April, lifting the sector out of contraction after strict Covid curbs hammered consumer spending earlier this year. Sales value rose 11.7% in April from a year earlier, the Census and Statistics Department said. That was far better than the median estimate of a 7.9% decline expected by economists in a Bloomberg survey. ...

Bloomberg As Russia’s invasion of Ukraine settles into a grinding war of attrition, one question more than any other will likely decide the outcome: On whose side is time? Much of what unfolds will be determined by unpredictable battlefield dynamics, especially as Russian forces attempt a dash for territory in eastern Ukraine before heavy artillery from the US and elsewhere ...

Bloomberg Russia’s economy has been dealt a severe blow by international sanctions imposed following the invasion of Ukraine and that damage will become increasingly clear, according to Germany’s vice chancellor. The revenue Russia receives from commodities like oil and gas is “painful,” Robert Habeck, who is also the economy minister, said in a speech to parliament. But that doesn’t accurately ...

Bloomberg The Biden administration announced $2.1 billion in new funding to bolster food supply chains, including the efforts to support smaller processors and help farmers shift to the organic production. The initiatives will begin to have an impact on lowering food inflation “as we get in the tail end of 2022 and into 2023,” Agriculture Secretary Tom Vilsack told reporters ...

Bloomberg Meta Platforms Inc.’s Sheryl Sandberg, who became one of the most recognised figures in global business after helping Facebook transform from a startup into a multibillion-dollar advertising powerhouse, is stepping down as chief operating officer (COO). Sandberg, 52, will remain on the board of Meta, the parent company of Facebook, Instagram and WhatsApp, according to a post on the ...

  Bloomberg Bank of England (BOE) Deputy Governor Jon Cunliffe said the UK housing market is starting to slow and will be dragged down by rising interest rates and easing economic growth. “We see evidence of a slowdown,” Cunliffe said in an interview on ITV News. “There are some straws in the wind that show the market is starting to ...

  Bloomberg Stocks in Europe and US futures climbed on Thursday as investors assessed attractive valuations and a drop in oil prices against hawkish messages from central bankers on reining in inflation. Europe’s Stoxx 600 Index rose 0.5%, with construction and consumer shares leading gains, while energy stocks were laggards. Trading volumes are lighter than usual, with UK markets shut ...

  Bloomberg Shares linked to Chinese utilities are primed to extend their rebound as the economy’s reopening spurs electricity consumption and tens of billions of dollars-worth overdue subsidies may finally make their way, analysts say. A sub-gauge of utility stocks on the CSI 300 Index has jumped nearly 10% since a recent mid-March low, outpacing a less than 3% rise ...

Abu Dhabi / WAM The UAE will chair the Committee on The Peaceful Uses of Outer Space (Copuos). With 100 member states, Copous is one of the largest UN committees and plays a major role in governing the exploration and use of space for the benefit of all humanity. Sarah bint Yousif Al Amiri, Minister of State for Public Education ...