WASHINGTON—The U.S. Transportation Department (USDOT) said Tuesday it had fined Virgin Atlantic $1.05 million for flying in restricted airspace over Iraq on numerous occasions. USDOT has jurisdiction since the flights carried Delta Air Lines’ code. The Federal Aviation Administration (FAA) had issued a notice prohibiting U.S. carriers from flying over Iraqi airspace without prior approval….
Interest Rate Hikes to Push Australian Banks’ Earnings by 20 Percent in 2023: Goldman Sachs
January 17, 2023
admin
AustraliaBusiness & MarketsCompanieseconomic policiesGoldman Sachsinterest rate hikesJim ChalmersWorld
0 Comment
Financial analysts have forecasted a booming year for Australian banks in 2023 as they allegedly exploit a loophole in the central bank’s interest rate hiking cycle. Analysts at the global investment bank Goldman Sachs estimated that Australian banks would see a 20 percent surge in earnings this financial year, with a combined profit of $35.5…
Boeing, Airbus Hit Back Over Criticism of Delivery Delays
DUBLIN—The world’s two largest planemakers defended themselves on Tuesday following criticism over delivery delays, with a Boeing executive saying increasing production after COVID-19 lockdowns was “not as easy as an on/off switch.” Aircraft leasing firms have used a major industry conference to hammer manufacturers over delays. Air Lease executive chairman Steven Udvar-Hazy said they had…
Kroger CEO Says Half of Its Customers Are Financially Strained by High Inflation
Kroger CEO Rodney McMullen said half the chain’s customers are under “a lot” of financial strain due to high inflation. The retail chain has been working with its manufacturers on how they can work together to reduce costs as its customers remain under financial strain, said McMullen at a conference on Jan. 16, reported Fox…
Britishvolt, Key to UK’s Electric Car Ambitions, Falls Into Administration
January 17, 2023
admin
Boris JohnsonBritishvoltBusiness & MarketsCompanieseconomyelectric carelectrical vehiclesenergyInvestmentUKWorld
0 Comment
Britishvolt, an electric car battery company once praised by former Prime Minister Boris Johnson, has fallen into administration and made the majority of its 300 staff redundant. The company had been promising to build a £3.8 billion gigafactory producing batteries for electric cars in Blyth, Northumberland. But the project ran into serious difficulties months ago…
Morgan Stanley Profit Beats on Strength in Trading Business
Morgan Stanley reported a smaller-than-expected 41 percent drop in fourth-quarter profit on Tuesday as the bank’s trading business got a boost from market volatility, offsetting the hit from sluggish dealmaking. Dealmaking was at a virtual halt for most of last year as risk appetite waned sharply in the face of rapidly deteriorating macroeconomic conditions and…
Goldman Misses Profit Estimates as Dealmaking, Asset Management Take a Hit
Goldman Sachs Group Inc. on Tuesday reported a bigger-than-expected 69 percent drop in fourth-quarter profit as it struggled with a slump in dealmaking and weakness in its wealth management business. Wall Street banks are making deep cuts to their workforce and streamlining their operations as dealmaking activity, their major source of revenue, stalls on worries…
Wall Street Opens Lower After Goldman Sachs Misses Profit Estimates
Wall Street’s main indexes opened lower on Tuesday after Goldman Sachs missed quarterly profit estimates, worsening sentiment already dented by downbeat economic data from China earlier in the day. The Dow Jones Industrial Average fell 80.29 points, or 0.23 percent, at the open to 34,222.32. The S&P 500 fell 0.01 percent to 3,999.09 points at…
Luxury Giant LVMH Hits 400 Billion Euro in Market Value
MILAN—LVMH shares rose to a fresh record high on Tuesday, giving the luxury goods group a market capitalization of 400 billion euros ($434 billion) for the first time and cementing its lead as Europe’s most valuable company. Like other luxury companies which are heavily exposed to China, LVMH has benefited this year from the fast…
Elon Musk Changes His Twitter Bio to ‘State-Affiliated Media’
January 17, 2023
admin
Business & MarketsCompaniesElon MuskMedia & Big TechPoliticsSocial Mediastate mediaTechTwitterUSUS News
0 Comment
CEO Elon Musk updated his Twitter bio to read: “State-affiliated media” on Jan. 16 after he alluded that it was more of an appropriate label for the social media network. In response to questions from reporters over the weekend, Musk tweeted, “Technically, Twitter should have that label.” Musk’s comment follows the release of details made public…
-
Recent Posts
-
Archives
- May 2025
- April 2025
- July 2023
- June 2023
- May 2023
- April 2023
- March 2023
- February 2023
- January 2023
- December 2022
- November 2022
- October 2022
- September 2022
- August 2022
- July 2022
- June 2022
- May 2022
- April 2022
- March 2022
- February 2022
- January 2022
- December 2021
- November 2021
- October 2021
- September 2021
- August 2021
- July 2021
- June 2021
- May 2021
- April 2021
- March 2021
- February 2021
- January 2021
- December 2020
- September 2013
- July 2013
- March 2013
- January 2013
- December 2012
- November 2012
- December 1
-
Meta