(Reuters) – Cathay Pacific Airways Ltd said it would gradually increase flying capacity in the coming months after the Hong Kong government on Friday lifted rules requiring passenger crew to quarantine in a hotel for three days on return to the city. The onerous crew quarantine rules had made rostering difficult and were a major…
By David Randall NEW YORK (Reuters) – As the Federal Reserve accelerates the unwinding of its balance sheet this month, some investors worry that so-called quantitative tightening may weigh on the economy and make this year even more brutal for stocks and bonds. After roughly doubling its balance sheet to $9 trillion after the pandemic,…
By Tatiana Bautzer and Rafaella Barros SAO PAULO/RIO DE JANEIRO (Reuters) -Yara International ASA is close to acquiring the fertilizer unit put on sale by state-controlled oil company Petroleo Brasileiro SA, known as Petrobras, two sources with knowledge of the matter said on Friday. Petrobras has selected Yara’s bid and the deal now needs to…
By Joey Roulette WASHINGTON (Reuters) -SpaceX on Friday challenged the U.S. Federal Communications Commission’s (FCC) decision to deny the space company’s satellite internet unit $885.5 million in rural broadband subsidies, calling the move “flawed” and “grossly unfair,” in a regulatory filing. The FCC last month turned down applications from billionaire Elon Musk’s SpaceX and LTD…
(Reuters) – Bankrupt Scandinavian airline SAS AB on Friday said it has received U.S. court approval for $700 million of debtor-in-possession (DIP) financing from funds managed by private equity firm Apollo Global Management. The approved credit agreement is a part of the airline’s bankruptcy protection process and its terms will be substantially similar to those…
Two leading House Democrats are asking for a federal investigation into whether airlines used any of the $54 billion they received in government pandemic relief to pay employees to quit. The lawmakers said Friday that buyouts to employees made a pilot shortage worse and contributed to widespread flight delays and cancellations that have ruined travel…
(Reuters) – The U.S. securities regulator will set up two new offices to deal with filings related to crypto assets and the life sciences sector, the agency said on Friday. The “Office of Crypto Assets” and the “Office of Industrial Applications and Services” will join seven existing offices under the Securities and Exchange Commission (SEC)…
Burger King plans to invest $400 million in its U.S. restaurants over the next two years to update its stores and boost flagging sales. The burger chain said Friday the investment includes $250 million to revamp stores and update technology and kitchen equipment and $120 million for heavier advertising. Burger King also plans to spend…
By Carolina Mandl (Reuters) – U.S. stocks rallied on Friday, with the major indexes recording their first weekly gain in four weeks as investors went on a buying spree, shrugging off concerns about the economic outlook. The gains followed a sharp sell-off that began in mid-August, triggered by concerns about the impact of tighter monetary…
(Reuters) – Amazon.com Inc is in the process of removing U.S. and UK marketplace listings of products that disable car seatbelt alarms, the e-commerce giant said on Friday, a day after the company did the same in India. Amazon said it was looking into these products across all marketplaces and would take action accordingly. “We…
