TOKYO (Reuters) -Shares in Japan’s Mitsui & Co and Mitsubishi Corp fell about 5% on Friday after Russia moved to create a new firm to take charge of the Sakhalin-2 oil and gas project in the country’s far east. The new firm will take over all rights and obligations of Sakhalin Energy Investment Co, in…
By Kevin Buckland TOKYO (Reuters) – The dollar was little changed against major peers on Friday, but was on track for its best week in four as investors weighed the boost from tighter Federal Reserve policy and the risks of a U.S. recession. The dollar index, which measures the currency against six counterparts, inched up…
BEIJING (Reuters) – China’s manufacturing activity expanded at its fastest in 13 months in June, buoyed by a strong rebound in output, as the lifting of COVID lockdowns sent factories racing to meet recovering demand, a private sector poll showed on Friday. The Caixin/Markit manufacturing purchasing managers’ index (PMI) rose to 51.7 in June, also…
DALLAS (AP) — American Airlines is offering pilots raises of nearly 17% by the end of 2024, a sign of the leverage that pilots enjoy as airlines struggle with a labor shortage. CEO Robert Isom said Thursday that the proposal would boost pilot wages at American to the levels detailed in a tentative agreement between…
(Reuters) -Retail crypto lending platform Celsius Network said on Thursday it was exploring options including deals and restructuring its liabilities. Celsius earlier this month froze https://bit.ly/3bHo3Cf withdrawals and transfers, citing “extreme” market conditions, leaving its 1.7 million customers unable to redeem their assets. The Hoboken, New Jersey, company hired restructuring consultants from advisory firm Alvarez…
By Blake Brittain WASHINGTON (Reuters) -The U.S. Supreme Court on Thursday declined to hear American Axle & Manufacturing Inc’s bid to revive its patent on technology for quieting driveshaft noise, turning away a case that may have clarified the circumstances under which inventions warrant a patent. The justices rejected American Axle’s appeal of a lower…
By Chavi Mehta and Jane Lanhee Lee (Reuters) -A significantly weaker than expected business outlook by memory-chip firm Micron Technology Inc on Thursday raised concern that following nearly two years of strong demand the industry was turning toward a down cycle. Micron forecast adjusted revenue for the current quarter at $7.2 billion, plus or minus…
NEW YORK (AP) — Shares of Spirit Airlines rose Thursday after it postponed a vote for the second time on a proposed merger with Frontier Airlines, allowing for a bidding war over the budget airline between Frontier and JetBlue Airways to play out. The delay, announced hours before the scheduled vote, indicated that Spirit lacked…
WASHINGTON (AP) — The U.S. Supreme Court declined Thursday to take up a case involving a state law that gives California-based flight crews more generous meal and rest breaks than required by federal rules. Several Virgin America flight attendants sued to be included under the law, and an appeals court in San Francisco ruled in…
(Reuters) – JetBlue Airways Corp said on Thursday it was extending the expiration date of its cash tender offer for Spirit Airlines Inc to July 29 from June 30. (Reporting by Manas Mishra in Bengaluru; Editing by Shounak Dasgupta)
