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Business World

British Airways cancels 1,500 flights amid staff shortage

British Airways has cancelled a further 1,500 flights, mostly for July. The wave of cancellations made over the past weeks will affect tens of thousands hoping to jet off this summer from Heathrow and Gatwick. The industry has been struggling with staff shortages as demand for air travel rebounds. British Airways had already removed 10% […]

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Business

World’s richest man strikes deal to launch UK sandwich store Pret A Manger in India

One of the world’s richest men is launching Pret A Manger in India, adding the British coffee and sandwich store brand to a huge business empire that spans energy, retail and telecommunications. A unit of Mukesh Ambani’s conglomerate Reliance Industries said on Thursday that it has entered into a “long-term master franchise partnership” with Pret […]

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Business Tech

Samsung Electronics kicks off mass production of 3-nanometer chips

Samsung Electronics said Thursday it has kicked off mass production of 3-nanometer chips, becoming the first company to do so globally, as it aims to beat Taiwan Semiconductor Manufacturing Co, or TSMC, the world’s most advanced foundry chipmaker. Samsung said it’s using gate-all-around (GAA) transistor architecture, which allows these first-generation 3-nm chips to have 16% […]

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Business World

Airbnb permanently bans parties and events around the world

Airbnb has permanently banned parties and events at homes on its platform, after a temporary measure during the pandemic proved popular with hosts. The firm says the rule has become “much more than a public health measure” since it was introduced in August 2020. “It developed into a bedrock community policy to support our hosts […]

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Business World

Russia defaults foreign debt for the first time in a century: REPORT

Russia has defaulted on its foreign debt for the first time in a century. Moscow has reportedly failed to pay about $100 million in interest on two bonds during a 30-day grace period that expired on Sunday, the White House said the default showed the power of Western sanctions imposed on Russia since it invaded […]

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Business World

Sri Lanka bans sale of fuel to non-essential vehicles for two weeks amid worst economic crisis

Sri Lanka has suspended sales of fuel for non-essential vehicles as it faces its worst economic crisis in decades. For the next two weeks only buses, trains and vehicles used for medical services and transporting food will be allowed to fill up with fuel. Schools in urban areas have shut and officials have told the […]

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Business Insane World

Toyota recalls mainstream electric BZ4X because the wheels can fall off

Toyota has issued recalls for its first mainstream electric car and one of its full-sized pickup trucks for problems in which nuts or bolts could loosen and wheels or axles can become disconnected. Toyota warned owners of BZ4X electric SUVs to stop driving them because the wheels might fall off. The SUVs only recently went […]

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Business

Netflix is laying off 300 employees as streaming giant faces poor revenue growth

Netflix is laying off 300 employees amid a downward spiral for the streaming giant. “While we continue to invest significantly in the business, we made these adjustments so that our costs are growing in line with our slower revenue growth,” a company spokesperson said on Thursday. “We are so grateful for everything they have done […]

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Business Insane World

Chinese electric car falls from third floor office in Shanghai, two killed

Chinese electric carmaker Nio says that two people were killed when one of its vehicles fell from the third floor of its headquarters in Shanghai. One member of staff and a person from a partner company died in the crash. The incident took place on Wednesday at about 17:20 local time, the firm said. The […]

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Business

Snacks, Cereals and Plant: Kellogg’s to split into three entities

US-based food giant Kellogg on Tuesday said its board has approved a plan to split the company into three entities. The new companies, whose names will be determined later, will be focused on snacking, cereals, and plant separately, according to a company statement. “We expect the North America Cereal spin-off may precede that of Plant, […]

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Business Insane

Qatar Airways accuses Airbus of acting like a bully over $1 billion peeling paint lawsuit

The head of Qatar Airways on Tuesday accused plane-maker Airbus of acting like a “bully” as their billion-dollar dispute over peeling paint looked no closer to a resolution. The airline and leading plane-maker have been fighting in the British courts for months over the paint problem that seen Qatar Airways ground 23 A350 jets. “If […]

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Business

Google’s Russian subsidiary declares bankruptcy amid seizure of bank accounts: Report

The Russian subsidiary of Alphabet’s Google has submitted a declaration of bankruptcy, Interfax reported on Friday, citing court filings online. The subsidiary announced plans to file for bankruptcy in May after authorities seized its bank account, making it impossible to pay staff and vendors. “The Russian authorities’ seizure of Google Russia’s bank account has made […]