STOCKHOLM (AP) — Swedish Prime Minister Magdalena Andersson announced Monday that Sweden will join Finland in seeking NATO membership in the wake of Russia’s invasion of Ukraine. The historic shift, which comes after more than 200 years of military nonalignment in the Nordic country, is likely to upset the government of Russian President Vladimir Putin….
By Bozorgmehr Sharafedin LONDON (Reuters) – Oil prices fell on Monday as widespread lockdowns in China and weak Chinese economic data fuelled fears of a global recession, though the market found some support as the European Union stepped closer to an import ban on Russian crude. Brent crude was down 72 cents, or 0.7%, at…
SHENZHEN, China (Reuters) – European businesses in China are awaiting the next wave of disruption from COVID-19 outbreaks and see little chance of improvement until the country increases vaccination rates, the European Chamber of Commerce in China said on Monday. Shanghai has set out plans to end its COVID lockdown that has lasted more than…
By Padraic Halpin and Conor Humphries DUBLIN (Reuters) -Ryanair said it was impossible to give detailed guidance beyond hoping to return to “reasonable profitability” this year amid uncertainties over COVID-19 and the Ukraine war, knocking its shares after posting a smaller annual loss. Europe’s largest airline by passenger numbers also became the latest Boeing customer…
BRUSSELS (AP) — The European Union has slashed its forecasts for economic growth in the 27-nation bloc amid the prospect of a drawn-out Russian war in Ukraine and disruptions to energy supplies. The EU’s gross domestic product will expand 2.7% this year and 2.3% in 2023, the bloc’s executive arm said Monday — its first…
(Reuters) – JetBlue Airways Corp on Monday commenced a hostile all-cash takeover bid for Spirit Airlines Inc, days after the discount carrier rejected an offer from the larger rival. JetBlue, which had earlier offered $33 per share, is locked in a takeover battle for Spirit with Frontier Group Holdings and has argued a deal will…
ANKARA, Turkey — Turkey’s President Recep Tayyip Erdogan on Monday ratcheted up his objection to Sweden and Finland joining NATO. Erdogan accused the countries of failing to take a clear stance against Kurdish militants and of imposing military sanctions on Turkey. “Neither country has an open, clear stance against terrorist organizations,” Erdogan said at a…
JetBlue launched a hostile takeover bid for Spirit Airlines on Monday and asked shareholders of the low-cost carrier to reject a proposed acquisition by Frontier Airlines. JetBlue hopes that its move will push Spirit’s board to the negotiating table after the board rejected an earlier offer. Spirit said that it will “carefully review” JetBlue’s tender…
(Reuters) – McDonald’s Corp said on Monday it had initiated a process to sell its business in Russia after 30 years of operating its restaurants in the country, following Moscow’s invasion of Ukraine. In March, McDonald’s closed all its restaurants in Russia including its iconic Pushkin Square location. As part of the exit, the company…
McDonald’s is closing its doors in Russia, ending an era of optimism and increasing the country’s isolation over its war in Ukraine. The Chicago burger giant confirmed Monday that it is selling its 850 restaurants in Russia. McDonald’s said it will seek a buyer who will employ its 62,000 workers in Russia, and will continue…
