US Senators grilled a Southwest Airlines executive Thursday over December's winter storm troubles that affected some two million customers, resulting in a hellish holiday travel meltdown for the ages.. But Senator Ed Markey, a Massachusetts Democrat, pressed Watterson on why Southwest would not provide cash instead of 25,000 reward points to affected customers as a complementary "goodwill" gesture.
South Africa's President Cyril Ramaphosa declared a national disaster on Thursday in a bid to fast-track efforts to tackle a record electricity shortage that has put the brakes on growth in Africa's most industrialised economy.. "We are therefore declaring a national state of disaster to respond to the electricity crisis and its impact," Ramaphosa said in a keynote annual address that was delayed by opposition lawmakers who tried to block him from delivering it.
Adidas's net income fell heavily in 2022, according to preliminary results released on Thursday, with the German sportswear giant predicting major operating losses this year after ending a tie-up with Kanye West. . The end of the partnership with controversial rapper West would be a major contributor to the company suffering operating losses of up to 700 million euros this year, Adidas said.
Credit Suisse stocks plunged nearly 15 percent on Thursday as the scandal-plagued Swiss banking giant posted its biggest annual loss since the 2008 financial crisis -- and warned it expects to stay in the red in 2023.. - 'Simpler, more focused bank - Credit Suisse's capital-guzzling investment banking business has been the source of heavy losses which plunged Credit Suisse's accounts into the red -- eclipsing its more stable activities such as wealth management or its Swiss domestic banking services.
Major stock markets pushed higher Thursday as traders toasted some strong earnings as well as takeover talk, offsetting concerns about the need for more interest-rate hikes to cool strong inflation.. The Bank of England, like its US and eurozone peers, has hiked interest rates repeatedly to bring down soaring inflation.
The first stages of a World Bank revamp are set to begin by April, amid a push for lenders to evolve and meet global challenges like climate change, US Treasury Secretary Janet Yellen said Thursday.. "The first phase of implementation should begin by the World Bank and IMF spring meetings in April," according to Yellen.
The United States and Britain announced sanctions Thursday on the Russian intelligence-linked Trickbot group known for hacking hospitals during the Covid-19 pandemic and stealing financial data.. The sanctions announcement named seven members of the group, some of whom "are associated with Russian Intelligence Services," it said.
The number of foreign tourists visiting Russia collapsed last year due to the impact of Western sanctions imposed on the country following its military operation in Ukraine and strict Covid restrictions in China, industry professionals said Thursday.. Only 200,100 foreigners visited Russia in 2022, the Association of Tour Operators of Russia (ATOR) said, citing figures from border services, a drop of 96.1 percent from pre-pandemic years.
British energy giant Shell has been hit with a new lawsuit over climate change, with activist investors accusing the company's leadership of mismanaging risks to the company.. This time, ClientEarth, a minor Shell shareholder, has filed a lawsuit in the High Court of England and Wales against Shell bosses "for failing to manage the material and foreseeable risks posed to the company by climate change".
The troubled business empire of Indian tycoon Gautam Adani has links to foreign firms in a broad range of sectors including banking, energy and food.. - Financial partners - The Adani empire is made up of several listed firms, the main one being Adani Enterprises Limited.
