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Believe it or not! Food, gas are the new rent

  Early on in the pandemic, a lot of New Yorkers got major deals on apartments. Now the landlords are striking back. Even though rats are popping out of toilets, hedgehogs are escaping through holes in walls and my own ceiling rains sewage on me (really!), the rent is still going up by percentages your paycheck can only dream about. ...

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What if Russia destroys Ukraine’s cell networks

  As Taliban insurgents fended off US-led forces in their battle for Afghanistan in the late 2000s, local warlords decided that the nation’s mobile phone network was becoming an unacceptable risk. So they shut it down. Sometimes the outages in Afghanistan were only during the night or sporadically enforced. Quite often, though, the Taliban simply blew up cellphone masts so ...

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Retailers bet on improvement classes at home for consumers

  Bloomberg Americans are finally getting out of the house as pandemic restrictions melt away like the winter snow. But Lowe’s Cos and Home Depot Inc are betting they can keep consumers interested in home-improvement projects via online and in-person workshops on bathroom upgrades and lawn care. Both retailers want to hold onto the customers that they gained during the ...

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British Airways operator Comair resumes ‘flights’

  Bloomberg South African airline group Comair Ltd resumed flights after being given the all clear by the country’s Civil Aviation Authority, which was investigating a series of incidents over concerns about safety. The decision allows the local operator of British Airways and owner of the low-cost Kulula carrier to restart services on Thursday after a five-day grounding, restoring about ...

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Delta CEO says Covid crisis essentially over for travellers

Bloomberg Delta Air Lines Inc Chief Executive Officer Ed Bastian said the coronavirus crisis is effectively over as far as the travel sector is concerned, with demand comfortably outweighing any impact from Russia’s war in Ukraine. Delta had the two busiest days for sales in its near 100-year history last week, while the North Atlantic market has been swamped with ...

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Airlines lead S&P 500 rally after laying out path to profit

Bloomberg US airline stocks jumped the most in the S&P 500 Index after carriers said they will trim flying to remain on track toward profits even as fuel prices rise. Several of the largest carriers, including United Airlines Holdings Inc and American Airlines Group Inc, cut their capacity forecasts for the first quarter, while Delta Air Lines Inc held growth ...

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Grupo Aeromexico’s shares fall near lowest price on record

  Bloomberg Grupo Aeromexico SAB’s shares fell near the lowest price on record as the company takes the final steps to emerge from Chapter 11. The stock plunged 29% to 0.41 pesos as the window closed on a voluntary tender offer that will substantially dilute existing shareholders. The price is expected to reach zero throughout the day. Aeromexico won court ...

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Ocado slumps on M&S venture’s weak sales

  Bloomberg Ocado Group Plc shares approached a two-year low after its online grocery joint venture with Marks & Spencer Group Plc warned that revenue may grow less than expected amid rising energy costs. Ocado Retail, as the venture is called, said it’s starting to cut costs across the business after first-quarter sales dropped 5.7%. Ocado shares fell as much ...

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Biden to speak with Xi in bid to keep pressuring Putin

Bloomberg President Joe Biden will speak on Friday with Chinese President Xi Jinping, as the US leader looks to shore up global pressure on Russia to halt its war in Ukraine. “This is part of our ongoing efforts to maintain open lines of communication,” White House Press Secretary Jen Psaki said in a statement. “The two leaders will discuss managing ...

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Putin vows to rid Russia of its ‘traitors’ while waging Ukraine war

  Bloomberg President Vladimir Putin warned he would cleanse Russia of the “scum and traitors” he accuses of working covertly for the US and its allies, as the government steps up pressure on domestic critics of his war against Ukraine. Facing economic meltdown three weeks into the invasion, the Russian leader accused the West of wanting to destroy Russia in ...

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