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The rising cost of jet fuel is becoming the latest woe for the airline industry. Some carriers are being forced to trim their flight schedules due to the uptick in fuel prices, driven by the increase in oil prices. Spot prices for Gulf Coast jet fuel have doubled in the past 14 months and risen one-third…
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Sterling (GBPUSD=X) has risen against the dollar for the first time in five days moving just above the pre-Brexit lows it touched during the previous sessions as the need for safe havens wanes. The pound surged 0.5% against the greenback to $1.316 as the safe haven’s rally triggered by Russia’s invasion of Ukraine paused as…
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The price of oil could reach as much as $240 per barrel, or nearly double the current levels, if Western nations follow the US in targeting Russian energy with sanctions, Norway-based Rystad Energy researchers have warned. “If more Western countries join the United States in imposing an oil embargo on Russia, this will leave a…
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Today Embraer enters the air freight market with the launch of the E190F and E195F Passenger to Freight Conversions (P2F). The E-Jets freighters are designed to meet the changing demands of e-commerce and modern trade that require fast deliveries and decentralized operations. Embraer is offering the unbeatable cargo economics and flexibility that rightsized jets provide. “Perfectly positioned to…
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U.S. crude oil surged more than 8% in early trading on Sunday evening as the market continued to react to supply disruptions stemming from Russia’s ongoing invasion of Ukraine and the possibility of a ban on Russian oil and natural gas. West Texas Intermediate crude futures, the U.S. oil benchmark, traded 8% higher to above…
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Pfizer (NYSE: PFE) Canada is recalling blood pressure therapy, Accuretic due to the presence of a potential cancer-causing impurity called nitrosamine above the acceptable level, the Canadian health regulator said. The recall applies to all lots of Accuretic in 10/12.5 mg, 20/12.5 mg, and 20/25 mg strengths, Health Canada said. A prescription drug, Accuretic contains a combination of…
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The U.S. cable news network RT America informed its employees that it’s halting operations immediately and laying off almost all staff, according to a memo obtained by CNBC. RT America is an English-language sister network of RT, the Russian state-owned news channel. It’s operated by Russia-backed T&R Productions, which sent a memo Thursday to more…
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The WestJet Group has announced a deal to buy Sunwing Airlines Inc., which operatuesSunwing Airlines and Sunwing Vacations, marking a foray into the holiday tour market as competition among Canadian carriers heats up. Financial terms of the deal, which will see Sunwing’s current shareholders become equity holders in the WestJet Group, were not disclosed. WestJet…
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Bruno Le Maire, France’s Minister of the Economy, has pledged that his country will “wage a total economic and financial war on Russia,” outlining how Europe will seek to punish Moscow and President Vladimir Putin over the invasion of Ukraine. Speaking to Franceinfo on Tuesday, the government minister was clear that sanctions will be “applied” to individuals and entities…
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The UK has added Russian financial major Sber to its sanctions list in connection with Moscow’s ongoing military operation in Ukraine, blocking the bank’s access to the British pound. As stated in the document published by Britain’s Treasury on Tuesday, sanctions were imposed against correspondent accounts of Sber, and the bank is also prohibited from…