Southwest blocks thousands plus flights; the US govt. to look into it
The U.S. government criticised Southwest Airlines (LUV.N) on Tuesday after the low-cost carrier cancelled thousands of aircraft and its CEO, Bob Jordan, said the company needed to improve its legacy aviation systems.Prior to the Christmas break weekend, a powerful winter storm forced American airlines to postpone thousands of flights, but Southwest’s problems have gotten worse […]
EU nations agree to a cap on gas prices to address the energy crisis
After weeks of negotiations on the emergency solution that has divided opinion inside the bloc as it strives to contain the energy crisis, European Union energy ministers finally came to an agreement on a gas price ceiling on Monday.The cap is the EU’s 27-country bloc’s most recent effort to reduce gas prices, which have increased […]
100 Dreamliners among the large Boeing orders placed by United Airlines
As it strives for post-pandemic expansion and updates older, less efficient aircraft, United Airlines (UAL.O) announced Tuesday that it is acquiring 100 Boeing (BA.N) 787 Dreamliners, together with 100 737 MAXs.After political and manufacturing challenges for the two jets this year, the Chicago-based plane’s order for 200 aeroplanes, valued at approximately $43 billion at list […]
Getir’s Gorillas’ purchase transforms European meal supply
The $1.2 billion acquisition of rival Gorillas by grocery-in-minutes start-up Getir is a significant step toward market consolidation in Europe’s meal service market, where businesses are struggling during a post-COVID slowdown.After seeing rapid growth, these companies were struck in March by a decline in delivery demand caused by lockdowns and by rising interest prices, while […]
Significant oil pipeline failure to affect U.S. reserves, refinery stocks
Analysts and traders see an interruption of the major oil pipeline from Canada to the United States may reduce crude supply to two oil refineries and have an impact on stockpiles at a significant U.S. storage facility.The Keystone pipeline, operated by TC Energy (TRP.TO), transports around 600,000 barrels of Canada’s crude each day to the […]
Blackstone REIT constraint: a potential market red flag
Some are seeing this week’s spike in redemption demands at an undisclosed Blackstone real estate income trust (REIT) as a warning indicator, even if there hasn’t been much of a wider impact.In response to investor concerns that it was taking too long to adjust values as interest rates rose, Blackstone (BX.N) on Thursday blocked withdrawal […]
ConocoPhillips and QatarEnergy deals to be claimed by Germany
After QatarEnergy as well as ConocoPhillips (COP.N) on Tuesday inked two purchase and sale agreements for its exports spanning at least 15 years, Germany is expected to begin receiving additional supplies of Qatari liquefied natural gas (LNG) in 2026.Since Russia’s assault on Ukraine in February, there has been a fierce rivalry for LNG, as Europe […]
COP27 agreement achieves a milestone on “damage and loss,” but not more
The COP27 climate meeting early on Sunday saw the nations accept a contentious final deal that establishes a fund to aid poor nations suffering from climate disasters but does not add efforts to minimise the emissions that cause them.After difficult talks that lasted all midnight, the Egyptian COP27 presidency made the final language of the […]
Budweiser World Cup advertising is limited by Qatar’s liquor ban; not destroyed
Budweiser revenues in the Gulf nation will be significantly reduced by a last-minute move to forbid alcohol sales at World Cup stadiums in Qatar, but the owner’s international marketing push won’t be derailed, according to industry analysts.The world’s largest brewer, Anheuser-Busch InBev (ABI.BR), is at least annoyed by FIFA’s decision to impose the ban just […]
British insurers serve as a trial run for the post-Brexit “unshackling”
As a post-Brexit test of the UK’s resolve to “unchain” the City of London following the country’s exit from the European Union, the British government as well as the Bank of England are changing the capital requirements for insurers.Reform may release billions of dollars to fund infrastructure projects that will spur economic growth and help […]