DUBAI (Reuters) – Emirates will refurbish more of its existing fleet than previously planned, its chief commercial officer said on Tuesday, as the airline faces delays to deliveries of new Boeing jets and seeks assurances over concerns with the Airbus A350s it ordered. The Gulf carrier is spending over a $1 billion to refurbish the…
By Leika Kihara and Tetsushi Kajimoto TOKYO (Reuters) -Japan has prepared an emergency relief package worth $103 billion to cushion the economic blow from rising raw material costs, and plans further steps later this year to promote long-term reforms, Prime Minister Fumio Kishida said on Tuesday. Kishida is under pressure to ramp up fiscal spending…
(Reuters) – Valero Energy Corp on Tuesday reported a first-quarter profit compared to a year-ago loss, thanks to higher demand for fuel and refined products. Net profit attributable to the company’s stockholders was $905 million, or $2.21 per share, for the three months ended March 31, compared with a loss of $704 million, or $1.73…
MONTREAL (Reuters) – Air Canada on Tuesday reported a smaller quarterly loss, as more passengers flew due to an easing of COVID-19 travel restrictions. Canada’s largest carrier reported an operating loss of C$974 million ($764.46 million) for the first quarter or C$2.72 per diluted share compared with a net loss of C$1.304 billion or C$3.90…
By Anshuman Daga and Lawrence White SINGAPORE/LONDON (Reuters) – HSBC has shelved plans for fresh stock buybacks this year after reporting an unexpected hit to its capital on Tuesday, as a cocktail of rising inflation, geopolitical drama and economic weakness dented its prospects. Shares in Europe’s biggest bank were trading 2.2% lower by 0825 GMT…
By Koustav Samanta (Reuters) – Global airline capacity has surged to its highest level in 2022 this week because of a rebound in Chinese domestic demand despite extended lockdowns in Asia’s biggest aviation market, travel data firm OAG said on Tuesday. Asian jet fuel refining margins, which have more than doubled in the past two…
BEIJING (Reuters) – China’s foreign ministry said on Tuesday there was no basis to speculation that Beijing could try to use leverage over electric car maker Tesla Inc in order to influence content on U.S. social media site Twitter Inc. Chinese foreign ministry spokesman Wang Wenbin was responding to a question during a regular daily…
A look at the day ahead in markets from Dhara Ranasinghe. Billionaire Elon Musk’s $44 billion cash deal to buy Twitter lit a fire under tech stocks, and broader equity markets, stalling a selloff that had threatened to take hold. Asian stocks rallied, taking their cue from Wall Street, and European shares are tipped to…
By Bernadette Christina JAKARTA (Reuters) – Indonesia is prepared to widen its ban on exports of refined palm olein if it faces domestic shortages of derivatives used in the production of cooking oil, according to details presented at a meeting between government and industry officials. The world’s biggest palm oil exporter plans to halt shipments…
By Xie Yu HONG KONG (Reuters) – Asian shares bounced up on Tuesday after a late revival on Wall Street, though global growth fears stoked by China’s strict COVID-19 curbs and an expected streak of aggressive Federal Reserve tightening sapped risk appetite. By 0450 GMT, MSCI’s broadest index of Asia-Pacific shares outside Japan ticked up…
