Qantas has announced that it will offer non-stop ultra-long distance flights to Australia from international destinations such as London and New York from late 2025. Under Project Sunrise, the Australian flag carrier is ordering 12 Airbus A350-1000s wide-body aircraft to service the above flight routes. The aeroplanes will be delivered gradually from 2025 to 2028….
Qantas to Fly Non-Stop Sydney to London or New York From 2025
Qantas has announced that it will offer non-stop ultra-long distance flights to Australia from international destinations such as London and New York from late 2025. Under Project Sunrise, the Australian flag carrier is ordering 12 Airbus A350-1000s wide-body aircraft to service the above flight routes. The aeroplanes will be delivered gradually from 2025 to 2028….
Stagflation or Recession? Economic Woes May Hang Over Post-Crisis US Economy
The U.S. economy unexpectedly contracted in the first quarter, shrinking 1.4 percent. Another three months of negative growth in the output of goods and services could send the world’s largest economy into a technical recession. Although recession clouds could be forming on the horizon, some market analysts dismissed the headline GDP reading in the January-to-March…
The Price of Free Speech: The Twitter Takeover
Elon Musk, a self-described “free-speech absolutist,” sealed an agreement last week to acquire Twitter for $44 billion. The deal, which will be one of the largest takeovers in recent years, has inspired some to quip that the world’s richest man is spending billions of dollars to buy free speech. The CEO of Tesla and SpaceX…
Here Comes Dollar, the Global Wrecking Ball
Commentary Last Friday, Japanese broadcaster TBS reported Japan’s Finance Minister Shunichi Suzuki had discussed intervention in foreign currency markets on behalf of a beleaguered yen with U.S. Treasury Secretary Janet Yellen. In recent weeks, the Asian currency has plummeted against the U.S. dollar, falling to lows not seen in two decades. According to mainstream media…
Closure of Restaurants in Russia Cost McDonald’s $127 Million in First Quarter
The closure of all 850 McDonald’s restaurants in Russia has cost the fast-food chain $127 million in the first quarter of 2022. The fast-food company announced during its first-quarter earnings report on April 28 that its suspension of operations in Russia cost it $27 million in leases, supplier costs, and employee wages, and another $100 million in…
US Gas Prices Up Again Due to Low Supply, High Crude Oil Costs
May 2, 2022
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Business & Economycommoditieseconomyenergy costshigh gas pricesinflationMarketsoil pricesUncategorizedUS
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Gasoline prices rose again across the United States, mainly due to the rising cost of crude oil, AAA announced on May 2. The national average for a gallon of gas on May 2 was $4.19, a weekly increase of 7 cents per gallon from April 29 and a year-over-year increase of $1.29 per gallon, AAA reported….
Supreme Court to Look at Whether One Spouse Can Be Held Liable for the Other’s Fraud in Bankruptcy
The Supreme Court agreed on May 2 to take a case about whether a bankrupt debtor can escape liability for a debt arising out of someone else’s fraudulent act. Kate Bartenwerfer, who filed for bankruptcy after an ill-fated real estate deal, appealed after the often-reversed U.S. Court of Appeals for the 9th Circuit ruled she…
Biden Laughs at Inflation Joke, Receives Criticism
May 2, 2022
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Business & EconomyeconomyExecutive BranchinflationJoe BidenPoliticsTrevor NoahUSUS NewsWhite House Correspondents' Association dinner
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President Joe Biden has received criticism for laughing at a joke about inflation Saturday. During the White House Correspondents’ Association dinner, host Trevor Noah took a jab at Biden, making light of inflation rates that have climbed throughout Biden’s time in office. In March, the rate accelerated to a more than 40-year high 8.5 percent…
US Natural Gas Production Declines as Europe Searches for New Suppliers
May 2, 2022
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Business & EconomycommoditieseconomyEuropegas productiongas shortageMarketsoil and gas pipelineRussian Oil TradeUSUS NewsWorld
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Natural gas production in the United States is declining even as several countries, especially in Europe, are looking for alternative sources while they attempt to cut back dependence on Russian gas supplies. The two areas that contribute the most to U.S. natural gas output, West Texas and the Appalachian region, are seeing slowing growth. Growth…
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