British airliner easyJet has said it plans to remove seats in some of its planes this summer so that it can fly with fewer crew members amid staff shortages. In a statement to Business Traveller, the airline said the move was an “effective way of operating our fleet while building additional resilience and flexibility into our…
EasyJet to Remove Row of Seats so It Can Fly With Fewer Crew Amid Labor Crunch
Uber Loses Nearly $6 Billion on Investments in Didi, Grab
May 5, 2022
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Uber reported losses of nearly $6 billion for the first three months of the year, driven by its investments in other companies, the ride-sharing company announced on Wednesday. The California-headquartered company reported a first-quarter net loss of $5.9 billion, or $3.04 a share, compared with a loss of $108 million, or 6 cents a share, during…
Flight Cancellations Persisted After January COVID-19 Spike, Data Show
By Kelly Yamanouchi From The Atlanta Journal-Constitution Flight cancellations continue to persist for U.S. airlines since severe disruptions caused by the January COVID-19 surge and even as carriers staff up ahead of what’s expected to be a busy summer travel season, according to the latest federal data on air travel. Airlines canceled 4.5 percent of…
Woman Says Amazon.com Fired Her Because She Got ‘Long COVID’: Lawsuit
May 4, 2022
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NEW YORK—A former Amazon.com Inc employee sued the online retailer on Monday, saying it wrongly fired her and demanded she repay wages after she contracted “long COVID.” Brittany Hope, 29, a former brand manager for Amazon’s fashion line The Drop in Manhattan, is seeking damages for alleged violations of federal, state, and New York City…
Ukraine War, China Lockdowns Expected to Worsen Supply Chain Problems
May 4, 2022
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The Royal Bank of Canada (RBC) published a report on Monday that claims global supply chain issues are likely to worsen in upcoming months, as complications from China and Eastern Europe result in massive port congestion in key areas. The report found that a fifth of the global container ship fleet had been stuck in…
Pfizer Surpasses Q1 Earnings Predictions
Pharmaceutical company Pfizer released its quarterly earnings report on Tuesday, delivering better-than-expected results with strong sales of its antiviral drug Paxlovid and the company’s vaccine for the CCP (Chinese Communist Party) virus. In the recent financial quarter, Pfizer reported net income of $7.864 billion, almost $3 billion higher than net income for the previous quarter ($4.877…
Major South Korean Industries Face Production Cuts and Shutdowns Amid China’s Lockdowns
May 3, 2022
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South Korea’s major industries are experiencing supply disruptions in core components as the pandemic lockdowns in China show no end in sight. With the country’s high dependence on Chinese imports, any disruption in the supply chain would threaten the South Korean economy, according to a recent study. Under the severe disruptions to the Chinese supply…
Australia Hikes Official Interest Rate for First Time in Over a Decade
May 3, 2022
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The Reserve Bank of Australia (RBA) has raised the cash rate for the first time in over a decade, up 0.25 percentage points to 0.35 percent. The decision came earlier than what was initially indicated in response to March quarter inflation figures, released on April 27, that showed annual inflation had surged to 5.1 percent,…
UK Passport Delays Could Cost £1.1 Billion in Cancelled Holidays
May 2, 2022
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Delays in processing new British passports could cost £1.1 billion ($1.38 billion) in cancelled holiday bookings this summer, according to new research by the Centre for Economics and Business Research (CEBR). It said there was a significant “pent-up” demand for travel after two summers which were virtually obliterated by the pandemic, but a backlog of new…
Moderna Targeting Fall Release for Omicron Variant-Specific COVID-19 Boosters
A top executive at vaccine maker Moderna said that an Omicron- and subvariant-specific COVID-19 vaccine booster will be potentially released by the company in the fall. “We announced a couple weeks ago a new, variant-specific booster that we’ve been testing, and we have an additional candidate, our lead candidate, in testing now that I believe…
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