Airlines Ink Codeshare Agreements and Bolster Fleets Amid Air Travel Boom
Air travel was on its deathbed at the height of the COVID-19 pandemic as stringent travel restrictions and closed borders fuelled the bleeding. Two years down the road things are looking up going by the investment airlines are making as they look to bounce back....
Israeli police beat mourners at funeral of slain Palestinian journalist
JERUSALEM (Reuters) -Israeli police officers charged at Palestinian mourners carrying the coffin of Al Jazeera journalist Shireen Abu Akleh on Friday, before thousands led her casket through Jerusalem's Old City in an outpouring of grief and anger over her killing....
World equities rise on bounce in U.S., European markets
By Elizabeth Dilts Marshall NEW YORK (Reuters) - Global shares rose on Friday as Wall Street rallied to end a volatile week of trading, while oil jumped 4% on the back of record-high U.S. gas prices. Global markets and U.S. stocks were down sharply most of this week...
Wall Street rallies, weekly losing streak continues
By Stephen Culp NEW YORK (Reuters) - Wall Street surged on Friday to end higher, closing the book on a week of wild market gyrations as relief at signs of peaking inflation vied with fears that policy tightening by the Federal Reserve could tilt the economy into...
Biden says baby formula shortage to ease in weeks as U.S. imports more
By Doina Chiacu and Susan Heavey WASHINGTON (Reuters) -The U.S. baby formula shortage should improve dramatically in coming weeks, President Joe Biden and top officials said on Friday as the administration scrambled to reverse a shortfall that hits lower-income...
Oil jumps 4% as U.S. gasoline prices hit record high
By Scott DiSavino NEW YORK (Reuters) -Oil prices rose about 4% on Friday as U.S. gasoline prices jumped to a record high, China looked ready to ease pandemic restrictions and investors worried supplies will tighten if the European Union bans Russian oil. Brent futures...
Crypto exchange FTX CEO reveals stake in trading app Robinhood
By Greg Roumeliotis and Hannah Lang (Reuters) -Samuel Bankman-Fried, the chief executive and founder of cryptocurrency exchange FTX, revealed a 7.6% stake in Robinhood Markets Inc on Thursday, capitalizing on the weakness of the shares of the trading app to build a...
Gold set for fourth weekly loss on dollar strength, Fed hike bets
By Ashitha Shivaprasad (Reuters) - Gold fell more than 1% on Friday and is set for its fourth straight weekly decline, as the dollar's strong run with more aggressive U.S. interest rates on the horizon sapped appetite for bullion. Spot gold fell 0.7% to $1,808.89 per...
U.S. consumer sentiment approaches 11-year low, monthly import prices unchanged
By Lucia Mutikani WASHINGTON (Reuters) - U.S. consumer sentiment slumped to its lowest level in nearly 11 years in early May as worries about inflation persisted, but household spending remains underpinned by a strong labor market and massive savings, which should...
Aeroflot buys eight stranded Airbuses from foreign leasing firms
By Kevin Liffey LONDON (Reuters) - Russia's biggest airline, Aeroflot, said on Friday it had bought eight Airbus A330 aircraft from foreign leasing companies "as part of the fulfilment of contractual obligations". More than 400 aircraft leased from Western firms,...
In first since Ukraine invasion, Pentagon chief speaks with Russian counterpart
By Idrees Ali WASHINGTON (Reuters) -U.S. Defense Secretary Lloyd Austin called for an immediate ceasefire in Ukraine when he spoke by telephone to his Russian counterpart Sergei Shoigu on Friday for the first time since Russia's invasion of Ukraine, the Pentagon said....
Alibaba lays off 40% of AliExpress Russia staff amid Ukraine war – Nikkei
(Reuters) - Alibaba Group Holding has laid off about 40% of the staff in its Russian joint venture as the ongoing Ukraine crisis disrupts cross-border business, the Nikkei reported on Friday. The Chinese e-commerce giant could not be immediately reached for comment....
How much Fed must do depends on supply outlook: Kashkari
By Ann Saphir (Reuters) -The Federal Reserve will do what it needs to do to bring down very high inflation, Minneapolis Fed President Neel Kashkari said on Friday, though how much it will need to do depends in part on how quickly energy and other supply constraints...
Musk puts Twitter deal on hold
LONDON (Reuters) - Elon Musk on Friday put his $44-billion deal for Twitter Inc temporarily on hold, sending the social media company's shares some 20% lower in pre-market trading and on the Frankfurt stock exchange. Below are analysts' reactions to the announcement....
Russian inflation jumps to 17.83% in April, highest since early 2002
(Reuters) - Consumer inflation in Russia accelerated in April to 17.83% in year-on-year terms, its highest level since January 2002, data showed on Friday, as it got a boost from the volatile rouble and unprecedented western sanctions that disrupted logistics chains....
IEA sees world weathering lost Russian oil supply
By Noah Browning LONDON (Reuters) - The world will not be left short of oil even with lower output from sanctions-hit Russia, the International Energy Agency (IEA) said on Thursday, after it cut its predictions for supply losses from the world's No.2 exporter for the...
Exclusive-Pension fund Caisse weighs protest vote over lack of francophone directors at CN Rail-source
By Allison Lampert and Simon Jessop MONTREAL/LONDON (Reuters) -Canada's second-largest pension fund is considering withholding support from certain Canadian National Railway Co directors at an upcoming annual meeting over French-speaking representation on the...
Fed’s Mester: Need “several months” of inflation moving down to call the peak
WASHINGTON (Reuters) - Inflation will need to move lower for "several months" before the Federal Reserve officials can safely conclude it has peaked, Cleveland Fed president Loretta Mester said Friday, adding she would be ready to consider faster rates hike by the...
Activist Elliott increases stake in UK wealth manager Brewin Dolphin
LONDON (Reuters) -Elliott has pushed its stake above 5% in Brewin Dolphin, a British wealth manager which is under offer from Royal Bank of Canada, the activist investor said on Friday. Elliott's stake reached 5.2% as of May 12, it said in a regulatory filing. Elliott...
Analysis: South Korea’s high-speed 5G mobile revolution gives way to evolution
By Byungwook Kim SEOUL (Reuters) - South Korea was the first country to launch a fifth-generation mobile network in 2019, heralding a warp-speed technological transformation to self-driving cars and smart cities. Three years on, the giddy promises are unfulfilled....