Delta Air Lines said on Wednesday it will stop blocking middle seats as of May 1, a move that will allow it to start selling more tickets on each flight at a time when travel demand is picking up as more Americans receive COVID-19 vaccines. Atlanta-based Delta is now the only U.S. airline still limiting…
Investigation Begins Into How Ship Got Stuck on Suez Canal
Formal investigations into how the giant container ship Ever Given ran aground in the Suez Canal, shutting down shipping in the major global waterway for almost a week, began on Wednesday, a canal official told Reuters. Suez Canal Authority (SCA) Chairman Osama Rabie has suggested weather conditions, including high winds, and human error could have…
Lloyd’s of London Sees ‘Large Loss’ Due to Suez Canal Blockage
LONDON—The blockage of the Suez Canal for nearly a week will result in a “large loss” for Lloyd’s of London, its chairman said on Wednesday, as the insurance market recorded a 900 million pound ($1.2 billion) pretax loss in 2020 due to the COVID-19 pandemic. The Canal is working to clear the backlog after the…
Canada Infrastructure Bank Part of Larger Program Failing to Make the Grade
Analysis of Canada’s multibillion-dollar infrastructure spending initiative is raising a ton of red flags.
Investors Press Companies on Human Rights in Xinjiang
BOSTON/LISBON—A group of religious and socially conscious investors and other funds are ramping up pressure on Western companies over alleged human rights abuses in China’s Xinjiang region, highlighting the challenges for brands trying to maintain their business ties amid rising tensions. The group of more than 50 investors, backed by the Interfaith Center on Corporate…
Fleeing From Control or Raising Capital? Chinese Companies Pile Into US Stock Market
March 30, 2021
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The number of China-based companies that rushed into the U.S. stock market hit a 10-year high in 2020, even as several others were removed, according to a study by the University of Florida. Political commentator Li Linyi said the Chinese regime wants to raise capital in the United States through these companies to support its technology…
Australian Resource Exports to Hit Record $296 Billion
Australian resource and energy exports are expected to hit a record $296 billion in 2020-21, despite the global economic downturn. The latest Resources and Energy Quarterly reveals the bumper result was due to a rebound in demand from China and an increase in commodity prices due to restricted supply caused by production slowdowns in other…
Biden Suggests to UK’s Johnson That Allies Should Have a Plan to Rival China’s Belt and Road
NEW CASTLE, Del.—U.S. President Joe Biden said he suggested to British Prime Minister Boris Johnson in a phone call on Friday that democratic countries should have an infrastructure plan to rival China’s Belt and Road initiative. “I suggested we should have, essentially, a similar initiative, pulling from the democratic states, helping those communities around the…
Volkswagen Recalls Audi A3s in the US Over Air Bag Concerns
BERLIN—Volkswagen has issued a recall for more than 150,000 Audi vehicles in the United States on concerns that their passenger air bags might not activate, according to a filing to the National Highway Traffic Safety Administration (NHTSA). The recall is expected to affect 153,152 Audi A3 cars built between 2015 and 2020, including the Sedan,…
Volkswagen Recalls Audi A3s in US Over Air Bag Concerns
BERLIN—Volkswagen has issued a recall for more than 150,000 Audi vehicles in the United States on concerns that their passenger air bags might not activate, according to a filing to the National Highway Traffic Safety Administration (NHTSA). The recall is expected to affect 153,152 Audi A3 cars built between 2015 and 2020, including the Sedan,…
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