DALLAS (AP) — Some flights to and from the U.S. were canceled on Wednesday even after AT&T and Verizon scaled back the rollout of high-speed wireless service that could interfere with aircraft technology that measures altitude. International carriers that rely heavily on the wide-body Boeing 777, and other Boeing aircraft, canceled early flights or switched…
By Naveen Thukral and Roslan Khasawneh SINGAPORE (Reuters) -Oil steadied on Thursday, clawing back losses earlier in the session, as strong demand and short-term supply disruptions continue to support prices close to their highest levels since late 2014. Brent crude futures fell 17 cents, or 0.2%, to $88.27 a barrel, as of 0418 GMT, having…
By Jamie Freed SYDNEY (Reuters) – Qantas Airways Ltd said on Thursday it would seek to terminate its contract terms with long-haul flight attendants, in a move that would lead to large pay cuts, after union members voted against more flexible rostering. Qantas said it is the first time in its history that it has…
SHANGHAI (Reuters) – China stepped up its monetary easing efforts to prop up a slowing economy this week by lowering a set of key policy rates and lending benchmarks, and markets believe Beijing could ease further before growth bottoms out. With the property downturn seen persisting into 2022 and fast-spreading Omicron variant dampening consumer activity,…
By Naveen Thukral SINGAPORE (Reuters) – Oil prices slipped back on Thursday after hitting their highest levels since 2014 in the previous session on the back of strong demand and short-term supply disruptions, underlying factors that limited losses as investors took profits. Brent crude futures dropped 72 cents, or 0.81%, to $87.72 a barrel, as…
By David Lawder WASHINGTON (Reuters) – World Bank President David Malpass on Wednesday criticized Microsoft’s $69 billion takeover of gaming developer Activision Blizzard as a questionable allocation of capital at a time when poor countries are struggling to restructure debts and fight COVID-19 and poverty. Malpass said during a Peterson Institute for International Economics virtual…
By Wayne Cole SYDNEY (Reuters) -Australian employment raced ahead in December as the jobless rate fell to its lowest point since 2008, showing strength that should help the economy weather the current surge in coronavirus cases across the country. Data from the Australian Bureau of Statistics on Thursday showed employment jumped 64,800 in December, topping…
By David Lawder and David Shepardson WASHINGTON (Reuters) -The United States and Britain on Wednesday agreed to start talks aimed at resolving their trade dispute over U.S. steel and aluminum tariffs, the countries said in a joint statement. No specific date or timeline was given for the talks but discussions will address “global steel and…
By Indradip Ghosh and Prerana Bhat BENGALURU (Reuters) – The U.S. Federal Reserve will tighten monetary policy at a much faster pace than thought a month ago to tame persistently high inflation, now viewed by economists polled by Reuters as the biggest threat to the U.S. economy over the coming year. Encouraged by apparent lower…
CHICAGO (AP) — United Airlines lost $646 million in the fourth quarter and said Wednesday that the current spike in COVID-19 cases will hurt its results in the March quarter. The airline said it expects its first-quarter revenue will be down 20% to 25% from the same period in 2019. Costs other than fuel will…