Newsletter
Tui boss Fritz Joussen quits
Fritz Joussen will step down after nine years at the helm of Tui. He has guided Europe's largest tour operator through a difficult merger and the aftermath of the Covid-19 pandemic.
S&P 500 rebounds 2.4% after sharp weekly decline
U.S. stocks rallied on Tuesday, leading the S&P 500 index to its best day since late May as traders hunted for bargains after a steep weekly decline in global equities sparked by central banks raising interest rates .
EU warns of 'regression' on fossil fuels as coal supplants Russian gas
The President of the European Commission has warned EU member states to backtrack on their long-term efforts to cut fossil fuel consumption after Germany, Austria and the Netherlands said they would start up coal-fired power plants after Russia cut gas …
Strongest weekly decline in stock markets since the outbreak of the pandemic
US stocks posted their sharpest weekly slump since the outbreak of the coronavirus pandemic, after investors were spooked by a series of rate hikes by major central banks and the risk of an ensuing economic slowdown. The S&P 500 index ended the week down 5.8 …
Musk tells Twitter employees the company needs to "get well."
Elon Musk has warned Twitter employees that the company needs to "get healthy" and "rationalize headcount and expenses" as he addressed Social Media employees directly for the first time since the launch of his $44 billion takeover bid Media platform turned.
Fed hikes interest rates by 0.75 percentage points
The US Federal Reserve raised interest rates by 0.75 percentage points and said another adjustment of this magnitude is possible at its next meeting. This is part of an aggressive monetary tightening plan as the central bank tackles the highest US inflation in …
Crypto crisis: Coinbase lays off almost a fifth of its employees
Coinbase is laying off nearly a fifth of its workforce after a sharp drop in prices and cryptocurrency trading volume rattled some of the industry's biggest players.
US stocks down 3.9%, closing in bear market as inflation fears mount
US stock markets ended Monday on a bearish note after a dramatic sell-off at the end of the session, while Treasury yields surged as persistently high inflation and the prospect of aggressive monetary tightening by central banks unsettled investors are. Wall …
China will "not hesitate to start a war" if Taiwan declares independence
Beijing will "not hesitate to start a war" if Taiwan declares its independence, the Chinese defense minister warned his American counterpart on Friday - the latest salvo between the superpowers in the dispute over the island.
Gasoline prices in the US reach $5 per gallon
The average price of gasoline in the US topped the $5 a gallon mark on Saturday for the first time in history, fueling decades of inflation that has become politically very costly for the Biden administration.