Bloomberg Southwest Airlines Co will reduce its flight schedule for the last four months of the year after employees assailed the discount carrier for understaffing operations during a summer marred by delays and cancellations. Average daily flights will fall by 27 to 3,304 from September 7 through October 6, Southwest said in an emailed statement. The carrier will cull an ...

Bloomberg Go Airlines India has got the green light from the nation’s market regulator to raise 36 billion rupees ($485 million) through an initial public offering, according to a person familiar with the matter. GoAir’s share sale was put on hold in June by the Securities and Exchange Board of India (Sebi). The airline now expects to file a preliminary ...

Bloomberg A business plan that aims to put Mexico’s troubled Interjet back in the skies in 2022 is ready, according to the firm the airline hired to advise on restructuring $1.25 billion in debt. Argoss Partners submitted the plan to Interjet management at the end of July. It calls for debt forgiveness of over 90%, partial payment to workers, preliminary ...

Bloomberg Ulta Beauty Inc raised its sales outlook after second-quarter results topped expectations, reinforcing that cosmetics demand is on the rise amid easing pandemic restrictions. The retail chain now sees sales of as much as $8.3 billion this year, Ulta said, up from a previous forecast of no more than $7.8 billion. The company also said the key gauge of ...

Bloomberg Gap Inc topped Wall Street’s expectations with its second-quarter results and increased guidance for the full year, highlighting the recovery for apparel retailers from the early-pandemic slowdown. The San Francisco-based company now sees adjusted earnings per share of $2.10 and $2.25, with net sales up about 30% compared with last year, it said. The apparel maker in May had ...

Bloomberg US forces carried out a strike in Afghanistan against the terrorist organisation believed responsible for the devastating bombing that killed at least 88 people near the Kabul airport a day earlier. “US military forces conducted an over-the-horizon counterterrorism operation on Saturday against an IS-K planner,” said Captain Bill Urban, a spokesman for US Central Command. He added that the ...

Bloomberg President Joe Biden rebuked China for stonewalling a US investigation into the origins of the coronavirus, as his administration reported it was unable to reach firm conclusions because of Beijing’s unwillingness to cooperate. China denied that it had hindered the probe. “The world deserves answers, and I will not rest until we get them,” Biden said in a statement ...

Bloomberg China’s central bank signaled it may reduce the reserve requirement ratio for banks to spur rural finance, a targeted move that would help cushion the economy as it slows. The People’s Bank of China (PBOC) said it will use monetary policy tools including the reserve ratio, and relending and rediscounting measures for rural development, according to a statement. That ...

Bloomberg PT Bank Central Asia (BCA) will invest $200 million into its digital arm to fend off competition from tech giants Gojek and Sea Ltd that are expanding into one of world’s largest unbanked markets. The Southeast Asian nation’s biggest lender by market value will use the funds to help Blu, its one-month old digital unit, to increase market share ...

Bloomberg Japan’s economic recovery will be delayed more than previously expected as the delta variant pushes up infections to record levels, according to a Bank of Japan (BOJ) board member. “The current spread of infections is more than expected at the time of the July policy meeting,” Toyoaki Nakamura, one of nine members on the board, told reporters in Tokyo. ...