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By Rajesh Kumar Singh and Aishwarya Nair (Reuters) -Low-cost carrier Frontier Group Holdings Inc has declined to further raise its bid for takeover target Spirit Airlines Inc, potentially drawing curtains on its months-long bidding war with JetBlue Airways Corp. Spirit signed a cash-and-stock deal with rival Frontier in February to form a new no-frills airline …

Frontier declines to further escalate bidding war for Spirit Airlines Read More »

(Reuters) -Electric vehicle maker Rivian Automotive plans to cut hundreds of jobs, possibly around 5% of its total work force, Bloomberg News reported on Monday, citing people familiar with the matter. Shares of the company fell 6.6% to $29.87 in afternoon trade. Rivian had over 10,000 employees globally, as of Dec 31, 2021, according to …

EV maker Rivian plans to cut hundreds of jobs – Bloomberg News Read More »

By Huw Jones LONDON (Reuters) -The Financial Stability Board (FSB) said on Monday it would propose “robust” global rules for cryptocurrencies in October, following recent turmoil in markets that has highlighted the need to regulate the “speculative” sector. The FSB, a body of regulators, treasury officials and central bankers from the Group of 20 economies …

G20 watchdog to propose first global crypto rules in October Read More »

BERLIN/LONDON (Reuters) – Physical gas flows through the Nord Stream 1 pipeline from Russia to Germany plunged on Monday morning as maintenance of the pipeline got underway, operator data showed. Physical flows dropped to 439,720 kilowatt-hours per hour (kWh/h) on Monday, from 9 am to 10 am, compared with physical flows over 29 million kwh/h …

Russia-EU gas flows through Nord Stream 1 plummet as maintenance begins Read More »

(Reuters) – European planemaker Airbus has updated its widely watched rolling 20-year forecasts for jetliner demand. Here are the main points of the forecasts, published a week ahead of the Farnborough Airshow. AIRCRAFT 2022-41* 2021-40** Units Units Passenger jets 38,600 38,140 New freighters 890 880 = Demand for new jets (>100 seats) 39,490 39,020 Of …

Factbox-Highlights of Airbus jet demand forecasts Read More »

By Eva Mathews (Reuters) -Wizz Air expects to have to cut flights this summer due to labour shortages and strikes at European airports, the budget airline said on Monday, sending its shares down around 5%. Wizz Chief Executive József Váradi had said in June the company was confident of returning to pre-COVID productivity by reaching …

Wizz Air warns of flight cuts due to airport chaos Read More »

MOSCOW (Reuters) – The Russian rouble slipped back past the 61 level against the dollar on Monday, after volatile swings in recent sessions, as the market continued to wait for updates on currency interventions. The rouble is down around 18% from the more than seven-year highs hit in late June, having dropped sharply after several …

Russian rouble settles near 61 vs dollar after volatile week of trade Read More »

By Sarah McFarlane LONDON (Reuters) – If shipping is the beating heart of global trade, its pulse is about to get slower. Faced with uncertainty about which fuels to use in the long term to cut greenhouse gas emissions, many shipping firms are sticking with ageing fleets, but older vessels may soon have to start …

Ships get older and slower as emissions rules bite Read More »

By Lucy Craymer WELLINGTON (Reuters) – New Zealand’s central bank is expected to deliver this week a third straight half-point rate hike in its most aggressive policy tightening in over two decades, but growing signs of a potentially sharp economic downturn may temper the hawkish dash. Slumping confidence and floundering economic data are seeing the …

Analysis-NZ central bank’s aggressive tightening raise concerns it may go too far Read More »

PARIS (Reuters) -GlobalFoundries Inc and STMicroelectronics will announce on Monday plans to build a semiconductor factory in France for an investment of nearly 4 billion euros, as part of Europe’s efforts to boost its independence in microchips, Le Figaro reported on Sunday. This would help support a push from the European Commission to produce 20% …

STMicro, GlobalFoundries to build French microchip plant -Le Figaro Read More »