Norwegian Air sees travel rebound ending need to seek more cash
Norwegian Air (NORR.OL) said on Tuesday it would not need to raise more cash as easing COVID-19 travel restrictions lifted bookings, although the budget carrier which has emerged from bankruptcy proceedings did not provide a 2021 outlook.
S.Korea drafts aggressive spending plan for 2022, taking debt to 50% of GDP
South Korea’s government on Tuesday unveiled an aggressive spending increase in the final annual budget of President Moon Jae-in’s five-year term, pushing out any prospect of achieving balanced budgets amid a worsening fiscal deficit.
Zoom’s tepid growth forecast takes shine off billion-dollar quarter
Zoom Video Communications Inc (ZM.O) posted its first billion-dollar revenue quarter but signaled a faster-than-expected easing in demand for its video-conferencing service after a pandemic-driven boom, sending its shares tumbling 11%.
Oil edges lower as U.S. pushes OPEC to pump more
Oil slipped on Tuesday as OPEC and allies geared up for a meeting on Wednesday amid calls from the United States to pump more crude, although Brent still traded well above $70 per barrel.
Ida’s insurance impact likely to be boosted by pandemic pricing
Insurers are bracing for $15 billion to $30 billion in claims from Hurricane Ida, but the figure could jump higher, in part because of pandemic pricing that has pushed up the cost of lumber and labor to rebuild, insurance experts said on Monday.
Fed’s Mester not ready to accept recent inflation surge as meeting central bank’s goal
Cleveland Federal Reserve Bank President Loretta Mester said on Monday that the U.S. economy is recovering strongly but she is not yet convinced that recent inflation readings will be enough to satisfy the price stability goal the U.S. central bank revamped a year ago.
Uber proposes industry-wide gig worker benefits model in Canada
Uber Technologies Inc (UBER.N) on Monday proposed a plan for a flexible benefits fund for app-based ride-hail and food delivery drivers in Canada under which all gig industry players would share data on workers’ hours and earnings.
BHP considers making COVID vaccinations mandatory at Australian sites
Global miner BHP Group (BHP.AX) is mulling whether to make vaccinations for COVID-19 mandatory at its workplaces in Australia as the country’s east battles ballooning virus cases.
India’s economy likely rebounded in April-June amid pandemic risks
India’s economy likely rebounded in the April-June quarter from a deep slump last year helped by improved manufacturing and in spite of a devastating second wave of COVID-19 cases.
After Ida, US energy pipelines off line, damage being assessed
Oil and gas pipeline operators on Monday checked for damage after Hurricane Ida hit major energy hubs as a Category 4 storm on Sunday and caused widespread power outages.
