Business

U.S. broadens restrictions on Belarus national airline after violations

The U.S. Commerce Department on Thursday broadened export controls on Belarus’s national airline, Belavia, for providing flights on Boeing aircraft in violation of restrictions issued after Russia’s invasion of Ukraine. Companies around the world are now prohibited from maintaining, repairing and otherwise using U.S. parts or equipment to service Belavia’s fleet, according to a Commerce […]

Business

Growth woes after Swiss, UK rate hikes drag European shares to 16-month lows

European stocks tumbled to their lowest levels in 16 months on Thursday after policy tightening in Britain and Switzerland fuelled fresh worries about the impact of inflation on the global economy. Already under pressure at the open after the U.S. Federal Reserve’s big interest rate hike on Wednesday, the benchmark STOXX 600 (.STOXX) fell further […]

Business

‘Never say never’: Boeing open to GE-Safran’s new engine concept

Boeing Co could embrace new engine technology for its next new airplane program, vital to fending off arch-rival Airbus SE (AIR.PA) in a lucrative slice of the air travel market. The U.S. planemaker has not publicly endorsed the so-called open-rotor or open-fan design – in which the engines blades are exposed – announced last year […]

Business

Europe’s central banks jack up interest rates to fight inflation surge

Central banks across Europe raised interest rates on Thursday, some by amounts that shocked markets, and hinted at even higher borrowing costs to come to tame soaring inflation that is eroding savings and squeezing corporate profits. Fuelled initially by soaring oil prices in the wake of Russia’s invasion of Ukraine, inflation has broadened out to […]

Business

India central bank lifts curbs on Mastercard over new cards

The Reserve Bank of India on Thursday lifted restrictions imposed last year on Mastercard Inc (MA.N) over issuing debit and credit cards to new domestic customers. The decision follows satisfactory compliance on rules regarding storage of payment system data, the central bank said. The RBI imposed the curbs in July 2021 after saying Mastercard had […]

Business

EV maker Nikola ‘evaluating’ making its own battery packs, says CFO

Electric-truck maker Nikola Corp (NKLA.O) is “evaluating options” to make its own battery packs in 2024, Chief Financial Officer Kim Brady said on Thursday. “If in-sourcing opportunity is available to us, and if we decide to explore that, that will likely be in 2024,” Brady said at the Deutsche Bank Global Auto Industry conference, adding […]

Business

Euro zone finance ministers back Croatia’s bid to join euro

Euro zone finance ministers backed on Thursday Croatia’s bid to adopt the euro, clearing another hurdle on the way of the Balkan country to become the 20th member of the currency area from the start of 2023. “I am very pleased to announce that the Eurogroup agreed today that Croatia fulfils all the necessary conditions […]