A toxic culture and ‘race to the bottom’: Pilots open up on why air travel is in chaos
Airlines are vocally laying the blame on airports and governments, but some working within the industry say airlines, too, failed to prepare.
Financial News
Barclays posts profit slump after hit from costly trading error in the U.S.
Barclays took charges of £1.9 billion for the first half, including £1.3 billion related to its trading blunder in the U.S.
Putin’s new gas squeeze condemns Europe to recession and a hard winter of rationing
Ukraine’s President Volodymyr Zelenskyy said the move was tantamount to a “gas war.”
UBS misses expectations; CEO cites one of the ‘most challenging’ quarters for investors in a decade
UBS posted net profit attributable to shareholders of $2.108 billion, below analyst expectations aggregated by the Swiss bank.
Markets face what could be the most important week of summer with Fed, earnings and economic data
There’s a head-spinning amount of news for markets to navigate in the week ahead, the biggest of which will be the Federal Reserve’s midweek meeting.
WHO declares rapidly spreading monkeypox outbreak a global health emergency
The WHO last issued a global health emergency in response to Covid-19 in January 2020.
S&P 500 sheds nearly 1% Friday on Snap-led tech sell-off, but finishes higher on week
The three major averages notched weekly gains, buoyed by notable earnings from American Express, Tesla and other companies.
Asia-Pacific markets mixed as inflation in Japan inches up
Shares in the Asia-Pacific were mixed Friday as investors digest Japan’s inflation data.
Nord Stream 1 resumes gas flows from Russia to Europe after fears of complete cutoff
The operator of Nord Stream 1, a key gas pipeline which runs from Russia to Germany, said it was in the process of resuming flows to Europe.
UK inflation hits new 40-year high of 9.4% as cost-of-living crisis deepens
U.K. inflation hit yet another new 40-year high in June as food and energy prices continued to soar, escalating the country’s historic cost-of-living crisis.