ZURICH (Reuters) – German logistics entrepreneur Klaus-Michael Kuehne has increased his stake in Germany’s flag carrier Lufthansa to 10%, Kuehne Holding AG said in a statement on Monday. Kuehne, 84, had earlier boosted his stake in Lufthansa to 5% about a month ago, becoming the airline’s second-biggest shareholder behind the German government, according to Refinitiv…
DALLAS (AP) — Barry Biffle is juggling his day job as CEO of Frontier Airlines while also working to save a proposed merger with Spirit Airlines that would create the nation’s fifth-biggest carrier by some measures. This figures to be a bounce-back year for airlines like Frontier that cater to leisure travelers. After two years…
(Reuters) -Shares of Warner Bros Discovery Inc rose on Monday, the first trading day of the media and streaming firm formed from the $43-billion merger https://www.reuters.com/article/at-t-warnermedia-discovery-idCAKBN2K633V of Discovery Inc and assets of AT&T Inc. Warner Bros Discovery shares were up 0.8% at $24.62, while AT&T stock climbed 2% to $18.62 before the bell. AT&T and…
(Reuters) – Luckin Coffee Inc, said on Monday it had emerged from bankruptcy proceedings, two years after an accounting fraud derailed the coffee chain’s business. Founded in 2017, Xiamen-based Luckin had positioned itself as a homegrown challenger to U.S. coffee giant Starbucks Corp, but the much-hyped company almost collapsed in 2020 after findings that about…
(Corrects headline to say BOC Aviation to buy 80 Airbus aircraft, not seeks) (Reuters) -BOC Aviation said on Monday it plans to buy 80 Airbus A320neo family jets in what is the aircraft-leasing firm’s largest order. The order consists of 10 A321XLR aircraft, 50 A321neo aircraft and 20 A320neo aircraft, and the delivery of the…
(Reuters) -Private equity firm Thoma Bravo will acquire SailPoint Technologies for $6.12 billion, in a deal that underscores a heightened demand for security software as businesses continue to digitize their operations. A pandemic-led shift to remote working, as well as the Russia-Ukraine conflict, has fueled a spike in cyberattacks and bolstered demand for security software…
(Reuters) – Canadian e-commerce giant Shopify Inc on Monday announced a 10-for-1 stock split of the company’s class A and class B shares. (Reporting by Chavi Mehta in Bengaluru; Editing by Aditya Soni)
MILAN (AP) — Italian Premier Mario Draghi secured a deal Monday for more natural gas imports across a Mediterranean pipeline from Algeria, marking the latest push by a European Union nation to reduce dependence on Russian energy following its invasion of Ukraine. After meeting with President Abdelmadjid Tebboune, Draghi told reporters in the Algerian capital…
By Patricia Vicente Rua and Catarina Demony LISBON (Reuters) -Ailing Portuguese airline TAP posted an annual loss of 1.6 billion euros ($1.74 billion) on Monday, while voicing “cautious optimism” that 2022 would bring better results despite uncertainties caused by the Ukraine war and the pandemic. The airline, which is 72.5% controlled by the Portuguese state,…
LONDON (AP) — The World Bank says Ukraine’s economy will shrink by 45.1% this year because of Russia’s invasion, which has shut down half of the country’s businesses, choked off imports and exports, and damaged a vast amount of critical infrastructure. Unprecedented financial and export sanctions imposed by Western allies in response to the war,…
