SYDNEY (Reuters) – Qantas Airways Ltd will offer A$50 ($34) vouchers, loyalty status extensions and lounge passes to frequent flyers to apologise for a rise in delays, cancellations, lost baggage and staffing issues since travel demand rebounded. Airlines around the world, including domestic rival Virgin Australia, are facing similar problems but Qantas had attracted significant…
By David Shepardson WASHINGTON (Reuters) – Transportation Secretary Pete Buttigieg has urged the 10 largest U.S. airlines to do more to help stranded and delayed passengers, calling the level of disruption travelers have faced this summer as “unacceptable.” Buttigieg, who has faced pressure from U.S. lawmakers who want airlines to offer better service or face…
(Reuters) – Billionaire investor William Ackman on Friday named insider Ryan Israel as the chief investment officer for his hedge fund Pershing Square Holdings Ltd. Israel joined Pershing from Goldman Sachs in 2009. Ackman also said that he will continue as chief executive officer and portfolio manager for Pershing with continued control over “ultimate decision…
(Refiles to fix syntax in fourth paragraph) DUBAI (Reuters) -European budget carrier Wizz Air has suspended plans to resume flights from the Russian capital of Moscow to Abu Dhabi in the United Arab Emirates, amid mounting criticism over the relaunch decision this month. In Friday’s statement deferring the flights until further notice, Wizz Air made…
ATHENS, Greece (AP) — With more of a whisper than a resounding clang, Greece has shed another restriction dating to its painful financial bailout years. Saturday’s formal end of “enhanced surveillance” by European Union creditors means the country will no longer face quarterly scrutiny of its public finances to win debt relief payments. That gives…
(Reuters) -Private equity firm Lone Star said on Friday its cash proposal to buy Bank of Cyprus Holdings PLC was rejected by the lender’s board. Shares in the Cyprus-based firm, which are up about 11% so far this year, closed at around 1.14 euros on Thursday. Bank of Cyprus currently has a market cap of…
HANOI (Reuters) – Apple supplier Foxconn has signed a $300 million memorandum of understanding with Vietnamese developer Kinh Bac City to expand its facility in the north of the country to diversify and boost production, state media said on Saturday. The Taiwanese company’s new factory, on a plot of 50.5 hectares (125 acres) in Bac…
TOKYO (Reuters) – Japanese trading firm Mitsui & Co is close to making a final decision to join a new Russian operator for the Sakhalin-2 liquefied natural gas (LNG) project, the Nikkei newspaper said, without citing sources. Registered on Aug. 5, the new entity replaces project operator Sakhalin Energy as Moscow rewrites the rules for…
SINGAPORE (Reuters) – China’s coal imports from Russia jumped 14% in July from a year earlier to their highest in at least five years, as China bought discounted coal while Western countries shunned Russian cargoes over its invasion of Ukraine. China brought in 7.42 million tonnes of coal from Russia last month, data from the…
BEIJING (Reuters) -A Shanghai court on Friday sentenced Chinese-Canadian billionaire Xiao Jianhua, not seen in public since 2017, to 13 years in jail and fined his Tomorrow Holdings conglomerate 55.03 billion yuan ($8.1 billion), a record in China. Xiao and Tomorrow Holdings were charged with illegally siphoning away public deposits, betraying the use of entrusted…
