The Big Three U.S. airlines are unlikely to dismantle the regional carrier model any time soon, so long as they rely on massive hubs to generate profits. This outlook is from the CEO of ExpressJet Airlines, one of the largest regional carriers in America, and one which plans to shut down this year.
Amit Shah, the man leading India’s fight against Covid-19 and Prime Minister Narendra Modi’s top lieutenant, has been among government leaders touting the country’s low death rate as a success story.
New Jersey’s indoor-gathering limit was cut by 75% on Monday, to 25 people, after a spate of house parties led to almost 100 cases. New York issued 106 violations to restaurants and bars over the weekend for not following containment orders. Elsewhere in the U.S., California and Arizona reported fewer new cases and President Donald Trump said he may
The move into the Nordic region’s biggest economy comes at a time when the U.S. retail giant is benefiting from an influx of consumers trying to avoid physical stores during the coronavirus pandemic. Last week, the company reported
The 114-page ruling by the U.S. Court of Appeals in New York won’t have immediate effect because of a decision in January by the U.S. Supreme Court. The high court allowed the rule to go forward until the justices decide whether to hear the case or issues a decision.
- Federal Aviation Administration to find a solution that would allow it to conduct its own test flights for the jet. None of the flights, a prerequisite for the 737 Max’s return to service in Europe, have been scheduled.
The Swiss bank ranks third for mergers and acquisitions work in the region so far this year, up from 14th at the same point in 2019, according to data complied by Bloomberg. It’s now on course for its best finish to a year since 2008, the data show.
Just how many people the island has lost in the last decade—driven away by a deep recession, political instability, and natural disasters—remains a matter of contention, particularly on Wall Street. The territory has been mired in court proceedings since 2017, when it sought to reduce nearly $125 billion in debt and pension liabilities by filing for municipal bankruptcy--the largest in U.S. history. As investors try to claw their money back, the question of how many taxpayers remain on the island to shoulder that burden has taken center stage.
Joe Biden, who’s spent decades warning about the dangers of budget deficits, will inherit one of the biggest in U.S. history if he becomes president—and he’ll be in no rush to pare it back.
- Global gasoline prices rose 2.2% on average during the second quarter of 2020 compared with the previous quarter. The increase reflects a stabilization of prices following their 17% plunge in the first quarter of the year, when the price of oil tumbled to its lowest level in more than 17 years. But behind those numbers comes a range of price swings experienced differently by every nation. We ranked 61 countries by three economic measures to see which has the most affordable gas and which feels the most pain at the pump.
Ford Motor said that CEO Jim Hackett, who has led the company’s transformation since 2017, plans to retire from the company. Jim Farley has been named the company’s new president and CEO and will join the board of directors, effective Oct. 1.
A leading association of Turkish doctors said on Tuesday that nearly 1,000 people are being infected with the coronavirus every day in Ankara alone, questioning the accuracy of government figures which put the daily nationwide tally of new cases at around the same level.
Patients are able to get access to their doctors—even mental-health therapists—online, without driving to the office, paying for parking or sitting idly in the waiting room until the provider wraps up their previous appointment. But not everyone is benefiting. Those most in need might also be the least likely to be able to reap the benefits of telemedicine.
- failure to get a grip on the pandemic is putting the brakes on its rebound compared with Europe, where many former virus hot spots managed to resume economic activity without causing a similar surge in infections.
Even as the pandemic continues to drive down consumer spending and depress oil prices, investors are spending big on clean-tech companies. Shares are now near record highs, the latest sign that wind and solar are no longer fringe bets.
New York City icon Katz’s Delicatessen, the 132-year-old home of heaping pastrami sandwiches, is accustomed to serving thousands of customers per day. But social distancing measures have drastically changed how the restaurant does business.
Regulators are increasingly scrutinizing Silicon Valley takeovers, aiming to prevent the already powerful firms from conquering innovative new markets where data is often the most prized asset. Privacy and consumer advocates have been
After an impressive start and good rains in June, the monsoon petered out in July, a crucial month for growth of young grain plants and oilseeds such as rice, cotton and soybeans. Economists will be closely monitoring the rainfall pattern in the coming weeks for hints about the future of the rural economy.
Two years of trade disputes between the U.S. and China have driven up the cost of consumer electronics, industrial equipment, soybeans, steel and washing machines. Now we are beginning to see what a tit-for-tat looks like when it comes for the internet.
It starts with gathering data, say experts in diversity, equity, and inclusion (DEI). Ruchika Tulshyan, founder and chief executive officer of consulting company Candour in Seattle and author of The Diversity Advantage: Fixing Gender Inequality in the Workplace, suggests an internal audit. How many people of color does your organization employ, and how senior are they? Have you measured employee engagement levels by race or gender? Do you have performance reviews to indicate how fair and inclusive managers are?
But for a small group of veteran traders at a tiny London firm called Vega Capital London Ltd., the mystery mattered less than the results: They pocketed as much as $500 million that day, according to people familiar with the matter, who spoke to Bloomberg Businessweek on condition of anonymity.
The stock rose the most in two months after EasyJet said Tuesday that its aircraft flew 84% full in July. With bookings for late summer ahead of projections the carrier will operate 40% of capacity in the quarter through September, up from the planned 30%.
- Revenue fell 8% in the 12 months through June on an organic basis, the London-based company said Tuesday. Analysts expected a decline of 6.4%.The company recorded a 1.3 billion-pound ($1.7 billion) impairment due to Covid-19 effects.
- BP Plc slashed its dividend for the first time in a decade and set out new targets to accelerate its shift to greener energy after the coronavirus pandemic upended the oil business.
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