(Reuters) – Strikes and staff shortages are forcing airlines to cancel thousands of flights and causing hours-long queues at major airports, dashing hopes of a sizzling first summer after COVID lockdowns. Here’s what we know: LABOUR UNREST: After sweeping job cuts and taking big pay cuts when COVID-19 brought travel to a grinding halt, staff …
(Reuters) -A U.S. court has approved LATAM Airlines Group SA’s bankruptcy reorganization plan, the region’s largest air transport group said on Saturday. The U.S. bankruptcy court for the southern district of New York approved the plan for a restructuring under Chapter 11 of the U.S. bankruptcy code, the airline said, adding it hoped to emerge …
U.S. bankruptcy court approves LATAM Airlines restructure plan Read More »
By Jonathan Stempel (Reuters) – A wealthy person has bid a record $19 million to eat lunch with Warren Buffett, in the 21st and final time that the billionaire businessman auctioned a private lunch to benefit a San Francisco charity. The winning bid at the eBay auction, which ended on Friday, far surpassed the previous …
Warren Buffett charity lunch fetches record winning bid of $19 million Read More »
(Reuters) – RRussia’s state-run Sovcomflot has insured all its cargo ships with Russian insurers and the cover meets international rules, the chief executive said, after Western insurers withdrew cover. Western insurers halted insurance cover for Russia’s biggest shipping group when Sovcomflot was hit by sanctions after Moscow sent troops across the border into Ukraine. Sources …
Sovcomflot fleet fully covered by Russian insurers, CEO says Read More »
By Fabian Cambero SANTIAGO (Reuters) -Chile’s state-owned Codelco, the world’s largest copper producer, agreed on Friday to start the process of closing its troubled Ventanas smelter, the company said. Workers had threatened action, including a strike, if the board did not invest to upgrade the facility after an environmental incident sickened dozens of people. The …
By Tina Bellon FORT WORTH, Texas (Reuters) – For companies working to make self-driving trucks a near-term reality, all roads lead to Texas. Vast highways, a booming freight market and, crucially, the least restrictive laws governing autonomous vehicles (AVs) in the United States have turned Texas into the industry’s most desired location. Several companies, including …
How free-wheeling Texas became the self-driving trucking industry’s promised land Read More »
PANAMA CITY (Reuters) – Panama’s Copa Airlines announced on Friday it is launching a route from Panama City to Mexico’s recently inaugurated Felipe Angeles International Airport, becoming one of the first foreign airlines to land at the new transport hub. Copa will operate three flights a week starting Sept. 26 in the new Mexican airport. …
Mexico’s new airport gets boost from Panama’s Copa Airlines Read More »
By Divya Rajagopal and Ismail Shakil TORONTO (Reuters) -Canada’s antitrust regulator said on Friday it remains opposed to Rogers Communications’ plan to purchase Shaw Communications, rejecting the companies’ argument that benefits to the economy would offset the harm to competition. Proceedings to litigate the matter are due to start on June 23 and could continue …
Canada’s competition agency maintains its opposition to Rogers-Shaw deal Read More »
By Chuck Mikolajczak (Reuters) – U.S. stocks closed with a modest bounce on Friday but still suffered the biggest weekly percentage decline in two years as investors wrestled with the growing likelihood of a recession while global central banks tried to stamp out inflation. Stubbornly high inflation has unnerved investors this year as the U.S. …
Wall St ends up but still down on week as volatility rules Read More »
By Ann Saphir and Lindsay Dunsmuir (Reuters) -The Federal Reserve, fresh from its biggest interest rate hike in more than a quarter of a century, signaled on Friday that the rising risk of recession will not stop its battle to bring down searing inflation that’s punishing American households. “The Committee’s commitment to restoring price stability …
Fed vows unconditional inflation war with ‘whatever it takes’ Read More »
