Business News Stories
Lufthansa expects flight operations to return to normal in 2023 – Welt
BERLIN (Reuters) – Lufthansa does not expect its global airline operations to return to normal until 2023 after staff shortages and booming demand amid the lifting of COVID-19 restrictions forced it to cancel some flights, Die Welt newspaper reported on Saturday. “Unfortunately, a short-term...
photo: Unsplash / Jan Zhukov
US recession would be 'necessary price' to defeat inflation: IMF chief
(MENAFN- AFP) With inflation rising sharply, and the Federal Reserve raising interest rates, the United States is facing an increased risk of a downturn, IMF Managing Director Kristalina Georgieva said...
photo: AP / Jose Luis Magana
Stocks fluctuate, oil falls again as recession warnings build
HONG KONGAsian markets mostly rose on Thursday on bargain buying after the previous day's battering, though oil extended losses after US Federal Reserve (Fed) boss Jerome Powell admitted the economy could tip into recession as the bank hikes interest rates to fight runaway inflation. Soaring...
photo: AP / Seth Wenig
Oil heads for second weekly drop on recession fears
Summary Brent, U.S. crude head for second weekly declineFed's inflation fight is 'unconditional,' Powell saysOPEC+ seen sticking to plan at June 30 meeting LONDON, June 24 (Reuters) - Oil prices slipped on Friday and were heading for a second weekly fall, as tight supply was...
photo: WN / Yolanda Leyba
Asian shares gain as investors shrug off downbeat data
BANGKOK (AP) — Shares were higher in Asia on Friday, despite data suggesting economies are slowing. The advance tracked gains on Wall Street, where the market is headed for its first weekly gain after three weeks of punishing losses. Tokyo's Nikkei 225 index added 1.2% to 26,491.97 and the Kospi in...
photo: AP / Eugene Hoshiko
Netflix lays off 300 workers amid subscriber losses
Netflix on Thursday laid off 300 employees in the latest round of cuts as the company responds to a revenue slowdown and its first subscriber loss in more than a decade. The Los Gatos, California-based streaming giant did not say what departments were...
photo: AP / Christophe Ena, File
German announces emergency plan as Russia chokes gas supplies
Economy minister says cut in deliveries is ‘economic attack on us by Putin’ Germany’s economic ministry has announced the second of three energy emergency phases, warning the country faces a high risk of long-term supply shortages due to Russia systematically choking off gas deliveries. One of the...
photo: European Community / Lukasz Kobus
Biden’s hunger summit echoes Nixon’s, but faces new challenges
The Biden administration’s plan to hold a hunger summit, more than 50 years after President Richard Nixon convened a similar one, will put a spotlight not only on shortcomings in the current programs but also on issues that emerged over the decades since. The White House is three months away from...
photo: US DoD / Lisa Ferdinando
Musk says Tesla's new car factories 'losing billions of dollars'
SAN FRANCISCO, June 22 (Reuters) - Tesla Inc's (TSLA.O) new car factories in Texas and Berlin are "losing billions of dollars" as they struggle to increase production because of a shortage of batteries and China port issues, Chief Executive Elon Musk said in an interview published on...
photo: GODL-India
Volkswagen to cut working hours, wages in Brazil as parts shortage deepens
SAO PAULO, June 22 (Reuters) - Volkswagen AG (VOWG_p.DE) is set to cut working hours and wages at its Sao Bernardo do Campo factory in Brazil as it grapples with a lack of auto parts and electronic components to assemble its vehicles. The...
photo: AP / Michael Sohn

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