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Facebook Inc is planning to change its name to something related to the metaverse, a new digital network for communicating through augmented and virtual reality, according to a report in The Verge, which cites a source with direct knowledge. Over the weekend, the company also said that as part of its metaverse-building efforts, it would hire 10,000 high-skilled jobs in ...

If you turn Foxconn Technology Group’s latest product sideways, it looks remarkably like the smartphones the Taiwanese company makes for Apple Inc. Except the electric bus, a sleek, shiny vehicle with rounded corners and no mirrors, heralds the firm’s slow and deliberate journey away from that one famous client to which it’s become addicted. Separating the rise of Foxconn from ...

America’s shortage of labour, products and services — provoked by Covid-19’s disruption of the global economy — has a platinum lining in Los Angeles. Obscured by unprecedented supply-chain bottlenecks, California’s largest city and No. 2 in the US after New York, has no peers unloading, processing and transporting the nation’s imports from its two busiest ports. Being the supreme gateway ...

Ngozi Okonjo-Iweala is due to visit New Delhi this week and, to be honest, nobody in India knows why she’s coming. Trade experts elsewhere are aware that the World Trade Organization’s (WTO) new director-general has staked her credibility — and the organisation’s — on completing a long-delayed agreement to curb subsidies that have encouraged massive overfishing. As far as the ...

Bloomberg Britain will allow London Heathrow airport to lift its charges by as much as 56%, stoking a clash with airlines who warned that higher fares will stifle a recovery at Europe’s busiest airport. The announcement by the UK Civil Aviation Authority (CAA) sets up months of high-stakes lobbying before a final decision early next year. The hike could prove ...

Bloomberg Asia Aviation Pcl, the operator of Thailand’s biggest budget carrier Thai AirAsia Co, plans to raise as much as 17.9 billion baht ($535 million) from new loans, share sales and convertible-debt offerings as it attempts to restock coffers depleted by the worst crisis in aviation history. A revised financial restructuring plan for the company has been put forward and ...

Bloomberg Airports Company South Africa (Acsa) is looking to generate more income from hotels and land, win service contracts and boost cargo revenue to prepare for a potential fresh wave of Covid-19 infections and restrictions. The state-controlled owner of international hubs including Johannesburg and Cape Town fears a new coronavirus variant may emerge that is vaccine resistant, CEO Mpumi Mpofu ...

Bloomberg United Airlines Holdings Inc posted a narrower loss than analysts had expected as a dip in demand from a summer surge in the coronavirus delta variant proved fleeting. The carrier lost $1.02 per share, or $300 million, in the third quarter on an adjusted pretax basis, better than the $1.61 loss analysts had estimated, according to figures compiled by ...

Bloomberg British satellite operator Inmarsat Holdings Ltd said it’s the first foreign operator to get India’s approval to sell high-speed broadband to planes and shipping vessels. Inmarsat will access the market via Indian state-owned telecommunications company Bharat Sanchar Nigam Ltd, after BSNL received a license from India’s Department of Telecommunications, the London-based company said. A representative for the Indian government ...

Bloomberg Russia called for major international aid to help the Taliban control the situation in Afghanistan on Wednesday as it hosted the radical movement for the first time since the chaotic US withdrawal in August brought it to power. It’s time to “mobilise the resources of the international community to provide Kabul with effective financial, economic and humanitarian help,” said ...