Month: May 2022
JetBlue launches hostile takeover bid for Spirit Airlines
A JetBlue airliner lands past a Spirit Airlines jet on taxi way at Fort Lauderdale Hollywood International Airport on Monday, April 25, 2022. (Joe Cavaretta/Sun Sentinel/Tribune News Service via Getty Images) Joe Cavaretta | Sun Sentinel | Getty Images JetBlue Airways on Monday commenced a hostile all-cash takeover bid for Spirit Airlines, days after the […]
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Lebanon voters deal blow to Hezbollah allies in first election since economic meltdown
Lebanon, a nation of nearly 7 million, is home to 18 different religious communities. Ibrahim Chalhoub | Afp | Getty Images Lebanon has voted in the country’s first parliamentary elections since its economic meltdown in 2019 and the Beirut port blast the following year. Dealing a major blow to the Iranian-backed Hezbollah, preliminary results from […]
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Boeing management needs a reboot after losing its way, Ryanair CEO says
Ryanair CEO Michael O’Leary pictured during a press conference of Irish low-cost airline Ryanair, Wednesday 02 March 2022 in Brussels. Nicolas Maeterlinck | AFP | Getty Images Ryanair CEO Michael O’Leary has called for a shakeup of management at U.S. aircraft giant Boeing, after delivery delays and a period of fractious negotiations between the two […]
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ECB’s Villeroy says too weak euro threatens price stability
ECB policymaker Francois Villeroy de Galhau. Eric Piermont | Afp | Getty Images The euro’s weakness on currency markets could threaten the European Central Bank’s efforts to steer inflation towards its target, ECB policymaker Francois Villeroy de Galhau said on Monday. The euro on Thursday hit its lowest against the dollar since 2017. It traded […]
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The UK is threatening to scrap Northern Ireland’s post-Brexit rules — stoking fears of a trade war
Johnson will visit Northern Ireland on Monday to hold emergency talks. Daniel Leal | Afp | Getty Images LONDON — The U.K. government is again threatening to unilaterally override large parts of the Brexit deal agreed with the European Union, raising the prospect of a trade war amid a power-sharing crisis in Northern Ireland. U.K. […]
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Ukraine can win this war, NATO chief says; Finland and Sweden move to join military alliance rattling Moscow
Ukraine says it’s counterattacking in the east, pushing Russian forces back Ukrainian forces say they have pushed back the Russian military in the region around Kharkiv in northeastern Ukraine, and near the border with Russia. “The 227th Battalion of the 127th Brigade of the Territorial Defense Forces of the Armed Forces of Ukraine of Kharkiv […]
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Ryanair posts $369 million annual loss, eyes return to ‘reasonable profitability’
Ryanair on Monday posted a 355 million euro ($369.06 million) loss for the pandemic-hit 12 months to end-March, but said it was impossible to accurately forecast anything beyond hoping for a return to “reasonable profitability” this year. The Irish airline, which is operating more flights than any other European airline according to air traffic regulator […]
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U.S., Europe race to improve food supply chains after India bans wheat exports
PARIS — The United States and the European Union are looking at how to improve food supply chains with export restrictions from India and other nations accentuating global problems, the EU’s trade chief told CNBC. G-7 foreign ministers warned over the weekend that the war in Ukraine is increasing the risk of a global hunger […]
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Tesla delays plan to restore Shanghai output to pre-lockdown levels, memo shows
A Tesla store is seen in Shanghai, China, Feb 1, 2022. Costfoto | Future Publishing | Getty Images Tesla has delayed a plan to restore production at its Shanghai plant to levels before the city’s Covid -19 lockdown by at least a week, according to an internal memo seen by Reuters. The U.S. electric car […]
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After the ‘hippie’ bus and the Beetle, VW has its eyes on America once again
As Volkswagen looks to resurrect the Scout brand in the United States, CEO Herbert Diess has shed light on the decision, saying it represents an opportunity for the German auto giant to “become much more American.” VW announced plans to re-launch the Scout as a fully-electric pick-up and “rugged” SUV last Wednesday, with prototypes due […]
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