business news

Flight bookings for leisure and business travel top 2019 levels

For the first time since the start of the pandemic, global leisure and business flights have risen to levels not seen since 2019. That’s according to the Mastercard Economics Institute’s third annual travel report, titled “Travel 2022: Trends & Transitions,” published yesterday. After analyzing 37 global markets, the report found that cross-border travel reached pre-pandemic …

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As inflation slows and ruble rallies, Russia is hoping to avoid a crisis

Russian President Vladimir Putin. Pool | Reuters Russia believes it has swerved a financial crisis as its currency rallies and economic data improves, but strategists say the numbers mask some ugly truths for Moscow. Although inflation in the country is running hot, there are signs that price rises are slowing and will continue to do …

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Uber update lets you book party buses, electric vehicles

Dara Khosrowshahi, chief executive officer of Uber Technologies Inc., smiles during a Bloomberg Technology television interview in San Francisco, California, US, on Tuesday, Dec. 14, 2021. David Paul Morris | Reuters Uber announced its latest slate of updates Monday ahead of what’s expected to be a busy travel and events season. The features, announced during …

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JetBlue launches hostile takeover bid for Spirit Airlines

LaGuardia International Airport Terminal A for JetBlue and Spirit Airlines in New York. Leslie Josephs | CNBC JetBlue Airways launched a hostile takeover bid of Spirit Airlines on Monday after that carrier rejected JetBlue’s $ 33 per share, all-cash offer earlier this month. JetBlue has said acquiring Spirit would give it access to a large …

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The economic outlook may not be as bad as the market fears. Here’s where investors should be looking

Inflation is soaring, the stock market is tumbling and consumers are worrying more and more about their future. None of that is good, but it’s probably time to tap the brakes a little on worries that everything is crashing down. Fears of a recession are definitely on the rise, particularly after the US already has …

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Strategist says market may become a ‘meat-grinder of forlorn hope’

LONDON – Investors looking for value in the stock market during the ongoing downturn may be “deluding themselves,” according to Sean Corrigan, director at Cantillon Consulting. Fears that central banks will have to hike interest rates aggressively to curb inflation – at the risk of quashing growth as the global economy suffers concurrent hits from …

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Firms plan to use balloons to go to space in 2024

Nearly half of Americans want to travel to space. But that means the other half doesn’t, according to a 2021 survey by ValuePenguin, one of LendingTree’s financial research websites. Nearly 40% said space travel was too dangerous, while others worried about environmental impact and costs. Soon there will be an option that addresses those worries, …

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UK economy ‘only going to get worse’ as growth slowdown begins

The UK economy shrank by 0.1% in March and the situation is expected to worsen as the country’s cost-of-living crisis escalates. Tim Ireland | Xinhua News Agency | Getty Images LONDON – A growth slowdown is underway in the UK after the economy shrank by 0.1% in March, with economists expecting further contractions this year. …

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