LONDON (Reuters) -Low-cost carrier easyJet said an IT problem that caused it to cancel around 200 flights on Thursday had been resolved, but its programme could be disrupted for the rest of the day. “EasyJet can confirm that the earlier IT systems issues have now been rectified,” the British airline said. “Unfortunately, they resulted in…
WASHINGTON (AP) — Stagflation. It was the dreaded “S word” of the 1970s. For Americans of a certain age, it conjures memories of painfully long lines at gas stations, shuttered factories and President Gerald Ford’s much-ridiculed “Whip Inflation Now” buttons. Stagflation is the bitterest of economic pills: High inflation mixes with a weak job market…
WASHINGTON (AP) — Average long-term U.S. mortgage rates fell this week for the second week in a row, though interest rates on the key 30-year home loan remain at decade-high levels. Economic uncertainty and weakened homebuyer demand continue to loom over mortgage rates. Mortgage buyer Freddie Mac reported Thursday that the 30-year rate declined to…
NEW YORK (AP) — Airline stocks rallied Thursday after Southwest Airlines and JetBlue Airways said revenue from summer travel will be stronger than previously expected as travel bounces back after two years of the pandemic. The comments, which the airlines made in regulatory filings, point to their ability to charge higher fares and still fill…
By Divya Chowdhury DAVOS, Switzerland (Reuters) – Southeast Asia and Latin America are strong growth regions for Mastercard after its withdrawal from Russia in March and India’s 2021 ban on it from issuing new cards, the company’s co-president for international markets said. “Southeast Asia is exciting (due to) the right demographics, the adoption of technology…
NEW YORK (Reuters) -Billionaire Elon Musk was sued by Twitter Inc investors for delayed disclosure of his stake in the company, as the owner of electric carmaker Tesla Inc mounts a $44 billion takeover bid for the social media platform. The investors said Musk saved himself $156 million by failing to disclose that he had…
By Scott DiSavino NEW YORK (Reuters) -Oil prices rose about 3% to a two-month high on Thursday on signs of tight supply ahead of U.S. summer driving season, as the European Union (EU) wrangled with Hungary over plans to ban crude imports from Russia over its invasion of Ukraine. Brent futures for July delivery rose…
SHANGHAI/BERLIN (Reuters) -Car sales in China, Europe and the United States remain depressed compared to last year’s levels as semiconductor shortages and anti-pandemic measures weigh on global autos markets, data showed on Thursday. Chinese retail car sales grew in May from April but were still down 16% year-on-year, according to the Chinese Passenger Car Association,…
(Reuters) -The Russian rouble slumped around 10% against the dollar in volatile trade to a two-week low on Thursday as the central bank cut interest rates to 11% and suggested more cuts would follow as inflation risks subside. The central bank cut its key rate by 300 basis points for the third time in a…
KYIV (Reuters) – Ukraine’s richest man says he plans to sue Russia over what he said was $17 billon to $20 billion in losses caused by its bombardment of steel plants he owns in the devastated city of Mariupol. The Azovstal steelworks suffered heavy damage from Russian bombing and shelling after the sprawling plant became…
