Southwest Airlines Co.’s operations chief plans to tell US senators that the carrier’s scheduling systems became overwhelmed during a late-December storm, leading to a breakdown that forced thousands of flight cancellations and cost the company more than $1 billion.
(Bloomberg) — Algeria recalled its ambassador to France for consultations, in what appeared to be the latest spat between the OPEC nation and its former colonial ruler.
Luxury brand Hermès International SA won its lawsuit against the digital artist behind “MetaBirkin” nonfungible tokens after convincing a Manhattan federal jury that Mason Rothschild’s sale of the NFTs violated Hermès’ rights to the “Birkin” trademark.
Egypt revived a stalled plan to sell stakes in state-run companies, including in two military-affiliated firms, as part of a drive to revamp a battered economy and secure much-needed foreign currency.
Federal Reserve Governor Christopher Waller said the US economy is adapting to higher interest rates, but more increases in borrowing costs are necessary to bring inflation back to the central bank’s 2% target.
The UK is discussing sending long-range missiles to Ukraine and assessing the long-term possibility of sending fighter jets to help in the war against Russia, Prime Minister Rishi Sunak said.
Google owner Alphabet Inc. fell by the most in more than three months after a demonstration of its new artificial intelligence chatbot, Bard, sparked concerns that the tech giant has lost ground in the race for the future of internet search.
Poland cleared further hurdles on the way to unlock more than €35 billion ($38 billion) of the European Union’s post-pandemic aid, putting fresh financing within the ruling party’s reach just eight months before a general election.
A shift in sentiment on Federal Reserve policy is emerging in interest-rate options, where several big wagers on the central bank’s benchmark rate reaching 6% — nearly a percentage point higher than the current consensus — have popped up this week.
Federal Reserve Bank of Minneapolis President Neel Kashkari said interest rates will need to rise higher to combat the wage growth that is helping keep some elements of US inflation elevated.
