BEIJING (Reuters) – China’s three biggest airlines on Wednesday reported wider losses in the final quarter of 2021, marking the second year in the red due to COVID-19 as hopes for a recovery remain distant while the country tries to halt the virus’ fast spread. Shanghai-based China Eastern Airlines said its net loss rose to…
By Foo Yun Chee BRUSSELS (Reuters) -Air France-KLM and its Dutch subsidiary KLM on Wednesday lost their challenge against million-euro fines re-imposed by EU antitrust regulators five years ago for taking part in an air cargo cartel two decades ago. Air France KLM said it was considering appeal against the decision. Air France and 10…
BUDAPEST, Hungary (AP) — Hungary’s foreign minister on Wednesday accused Ukraine’s leadership of attempting to interfere in the upcoming Hungarian election, a charge later denied by his Ukrainian counterpart in an episode that put further strain on relations between the two countries. In a video on social media, Hungarian Foreign Minister Peter Szijjarto claimed that…
(Reuters) – Wall Street’s main indexes opened lower on Wednesday, as optimism around Ukraine-Russia peace talks waned and investors fretted over the prospect of rapid rise in interest rates hurting economic growth. The Dow Jones Industrial Average fell 20.6 points, or 0.06%, at the open to 35,273.63. The S&P 500 fell 7.4 points, or 0.16%,…
NICOSIA, Cyprus (AP) — No data currently suggests Europe will fall into stagflation, a combination of high inflation, little or no economic growth and high unemployment, the European Central Bank ‘s president said Wednesday. Christine Lagarde said at a Bank of Cyprus conference in the Cypriot capital that at this time, “we don’t have the…
By Katanga Johnson WASHINGTON (Reuters) – The U.S. Securities and Exchange Commission (SEC) on Wednesday issued new guidance to broker dealers and investment advisors on how to satisfy their obligations to retail investors and comply with agency rules when recommending investment products. The guidance clarifies brokers’ and advisors’ obligations under the SEC’s long-standing Investment Advisor…
(Reuters) – CVS Health Corp said on Wednesday it had entered into an agreement with the state of Florida to resolve claims related toprescriptions for opioid medications for $484 million to be paid over a period of 18 years. As a result of the agreement, CVS Pharmacy will no longer be a defendant in Florida’s…
BERLIN (AP) — Europe’s already high gas prices have gyrated since Russian President Vladimir Putin announced plans to have importers pay for Russian natural gas in rubles instead of dollars and euros. Here’s a look at the implications of such a move, and why many are baffled by Putin’s demand: WHAT IS PUTIN PROPOSING? Europe…
WASHINGTON (AP) — The U.S. economy ended 2021 by expanding at a healthy 6.9% annual pace from October through December, the government reported Wednesday, a slight downgrade from its previous estimates. For all of 2021, the nation’s gross domestic product — its total output of goods and services — jumped by 5.7%, the fastest calendar-year…
BERLIN (Reuters) -The German government’s council of economic advisers more than halved its growth forecast for Europe’s largest economy on Wednesday and flagged a “substantial” recession risk as a result of Russia’s invasion of Ukraine. The advisers, whose forecasts guide the German government in setting fiscal policy, cut their 2022 economic growth forecast to 1.8%…
