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Ryanair warns Middle East war, fuel shortages could hit summer season flights
Ryanair CEO Michael O'Leary warned of potential jet fuel supply disruptions in Europe from June if the Middle East conflict persists, potentially forcing flight cancellations. While suppliers indicate stability until May, a prolonged conflict could impact 10-20% of fuel supply. Despite these concerns, Ryanair expects fares to rise 3-4% April-June.
Uber plans to acquire Germany's premium chauffeur services startup Blacklane
Uber is set to acquire German premium chauffeur service Blacklane. Sources suggest the deal is nearing completion. Blacklane, founded in 2011, operates globally and has major investors. The acquisition could significantly expand Uber's premium offerings. Details of the valuation are still emerging. This move signals a strategic expansion for the ride-hailing giant.
Aluminium slides 8% and copper slumps as speculators run for cover on Iran war fallout
Metal prices experienced a sharp decline on Thursday. Aluminium saw a significant drop as speculators exited bullish positions. Copper also sank to a three-month low. Surging oil prices are raising concerns about global economic growth. Additionally, ample inventories are weighing on the market. This situation has led to a broad sell-off across various metals.
Lufthansa flights may face disruption as pilots call two-day strike from March 12
Lufthansa pilots will strike for two days starting March 12, potentially grounding hundreds of flights from German airports. The walkout, over pilot pension contributions and wage agreements, follows a February strike that cost the airline €15 million. Lufthansa faces disruptions amid fuel price volatility and operational challenges.
Oil prices even at $90 'unsustainable', warns SpiceJet's Ajay Singh; says Indian airlines bracing for pain
SpiceJet chairman Ajay Singh warns that crude oil prices at $90 per barrel are unsustainable for airlines, signaling potential fare hikes and pressure on expansion plans. Rising fuel costs, linked to Middle East conflict, are impacting Asian carriers significantly, with some considering grounding aircraft. Industry leaders anticipate challenging months ahead for airlines and passengers alike.
Asian airlines raise fares, mull groundings as fuel crunch looms
Asian airlines are increasing flight ticket prices. They are also preparing to park aircraft. This is due to the Middle East conflict. The conflict threatens a major oil price surge. Some airlines may face bankruptcy if the situation continues. Flights are already disrupted. This situation creates uncertainty for global air travel.
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Lufthansa plans to add more long-haul flights as Gulf aviation hubs face disruption
Lufthansa is considering expanding long-haul services due to disruptions in Gulf aviation hubs caused by the ongoing conflict involving Iran. This conflict has led to widespread airspace closures, forcing airlines to reroute flights and pushing passenger demand towards European routes. The German airline group sees this as an opportunity to shift global traffic flows.
AI investments fuelling global patent growth: UN
The number of international patents filed last year for digital communications technology and semiconductors grew strongly, reflecting the surge in artificial intelligence investments, the United Nations said Friday. Digital communication, the top category among international patent filings, grew by six percent last year, as did applications for semiconductor patents.
'Mr Lufthansa' taps crisis playbook to tackle costs, union battles
Lufthansa CEO Carsten Spohr is steering the airline group through current challenges. He is focusing on efficiency and expanding long-haul routes. Spohr aims to improve punctuality and operations. He has no immediate plans to leave his position. The airline is working to overcome past issues and boost its financial performance.
Europe’s economy can ride out Iran war — if over in a month
Europe's economic recovery hangs in the balance for the next four weeks. US strikes on Iran could trigger a new crisis or a minor disruption. A prolonged conflict risks higher energy costs and inflation, impacting the euro zone's fragile revival. Economists are closely watching developments, with potential impacts on consumer prices and economic growth across major economies.
Europe’s economy can ride out Iran war — if it’s over in a month
Iran war: A lengthier campaign risks sabotaging the euro zone’s fledgling revival while reawakening inflationary forces that the European Central Bank has fought hard to contain.
Under siege from politics, US, EU, Japan central bankers fight back - at a cost
Central bankers face political pressure worldwide. They are fighting to keep their independence. This effort risks making them seem political. Populist rivals want to influence central bank decisions and leadership. This situation highlights a delicate balance between independence and public accountability. Markets may ultimately have the final say.
'Murky waters' for global businesses after Trump's tariff loss
A US Supreme Court ruling has disrupted President Trump's tariff policy. This creates new uncertainty for global trade and businesses. However, the global economy has shown resilience to past trade turmoil. Economists expect US economic policy to remain largely unchanged. Foreign leaders and businesses anticipate tariffs will continue in some form while Trump is in office.
Air India, Lufthansa Group sign agreement to expand India–Europe connectivity
Air India and Lufthansa Group are forming a joint business agreement. This partnership aims to enhance travel between India and Europe. Passengers will experience more seamless journeys. The collaboration builds on existing codeshares and Star Alliance membership. It will involve coordinated planning and commercial cooperation. This move is set to deepen economic and cultural ties.
Why are gold and silver prices rising again and what do precious metals market analysts say? Gold and silver rise explained. Here's what should investors do now
Why are gold and silver prices rising again and what do precious metals market analysts say? Gold and silver prices moved higher as the US dollar and Treasury yields declined before nonfarm payrolls data. Analysts link gains to rate cut expectations and weaker economic data signals.
VC fund Bertelsmann takes majority stake in logistics firm Lets Transport
Bertelsmann, which owns publisher Penguin Random House and is also active in services and education, has held a stake in Lets Transport since late 2018. The logistics company was founded in 2015 and connects truck drivers with corporate clients across India.
World economy faces 'pivotal moment', central bank body BIS says
The Bank for International Settlements (BIS) warns that trade tensions and geopolitical instability are threatening the global financial system. Outgoing BIS head Agustín Carstens highlighted the U.S.-driven trade war as a key factor fraying the established economic order. The report also points to rising public debt, declining economic resilience, and the impact of inflation on public perception.
Vladimir Putin could end up dead like Hitler, and his days are numbered, says ex-US intelligence officer
Vladimir Putin's leadership faces growing threats, potentially mirroring Hitler's downfall, warns ex-US intelligence officer David Carstens. Escalating Ukraine war casualties, a fragile economy, and potential fractures within Putin's inner circle pose significant risks.
GRSE shares rise 5% on deal with German firm for 2 multi-purpose vessels
GRSE Share Price: Shares of Garden Reach Shipbuilders and Engineers (GRSE) surged up to 5% following the signing of a contract with Carsten Rehder for the construction and delivery of the 7th and 8th Multi-purpose Vessels in Germany. This is part of a larger deal for a total of eight vessels valued at approximately 108 million USD.
The rise of Finternet: an interconnected network of financial ecosystems
A new model proposed by Nandan Nilekani and Agustín Carstens envisages multiple financial ecosystems interconnected with each other. Multiple financial ecosystems interconnected with each other is called Finternet, the building blocks of which combine technological advances with sound governance. The framework proposes using technologies such as tokenisation and unified ledgers.
India an important market, Henkel continues to invest in lab infrastructure & additional capacities, says CEO
India is an important market for Henkel and it would continue to make investments in laboratory infrastructure and additional capacities in the country, company chief executive officer Carsten Knobel has said. Further, Henkel is looking for inorganic growth opportunities through Mergers and Acquisitions (M&A), Knobel added.
Rethink needed to regulate Big Tech in finance, says BIS official
Data-rich Big Tech companies such as Alibaba and Amazon have been involved for some time in financial services such as banking, payments, asset management and insurance, with some also providing cloud computing to run key services for banks.
Prevent abuse by dominant fintech: Bank of International Settlements
Regulatory sandbox is also another useful tool regulators can use to gauge the market readiness for new products while promoting knowledge-sharing, competition and even grounds for fund-raising
Deutsche Borse group names India born Ashwin Kumar as new products development head
Kumar will report as managing director to CEO Carsten Kengeter from September 1, the company said in a statement.
Christine Lagarde, Agustin Carstens shortlisted for top IMF post
Lagarde, who has undertaken a massive campaign and who has the backing of Europe and the US appeared to be odds-on favourite.
I can provide intellectual leadership to IMF: Agustin Carstens
Mexican central banker Agustín Carstens was in Delhi on Friday to seek support for his bid to become the next managing director of the IMF.
Agustin Carstens hopes to emerge as developing nations' candidate for IMF chief
Mexican central bank chief Agustín Carstens accused Europe of hypocrisy as he sought to tug at India's sense of righteousness to support his candidature.
PM to decide India's vote on next IMF chief: Pranab
Finance Ministry on Thursday said the decision on India's vote on next IMF chief will be taken by Prime Minister Manmohan Singh.
India keeps its cards closed on support for new IMF chief
India will endorse a name for the top job at the International Monetary Fund (IMF) only after the final list of potential candidates is released.
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