The rate of lost, damaged or delayed luggage nearly doubled last year as air travel rebounded and the sector faced staff shortages following the Covid pandemic, a study found on Tuesday.. Passenger air traffic soared to 3.42 billion last year, but airports and airlines had fewer staff to handle the surge after laying off thousands when the pandemic brought the sector to its knees.
Ex-Audi CEO Rupert Stadler pleaded guilty at his "dieselgate" fraud trial in Germany on Tuesday, becoming the highest-ranking former executive to make a confession in the emissions cheating scandal that rocked the car industry.. The "dieselgate" saga shocked Germany and is seen as the country's biggest post-war industrial scandal.
US bank Wells Fargo has agreed to pay $1 billion to settle a class action lawsuit by shareholders who accused it of not having changed its management and practices quickly enough after a series of scandals.. Since 2016, Wells Fargo has paid billions in settlements and financial penalties related to its business practices. tu/mtp/dan
China's economic data for April missed expectations last month, official figures showed Tuesday, as low demand and high youth unemployment led to a patchy recovery after lifting strict Covid rules.. Low domestic demand despite low inflation has slowed China's economic recovery.
In a first, US climate scientists have quantified the extent to which greenhouse gasses from the world's top fossil fuel companies have contributed to wildfires.. - Growing area of research - The research builds on an accumulating body of climate "attribution" studies, which have calculated how much greenhouse gas emissions from burning fossil fuels have contributed to global temperature increases, sea level rise, and ocean acidification.
Equities were mixed in Asia on Tuesday as traders grow increasingly concerned that US lawmakers remain far apart in their bid to raise the country's borrowing limit to avert a default.. US President Joe Biden, who has expressed confidence the two sides can bridge the gap, is scheduled to meet with McCarthy and other congressional leaders at the White House later Tuesday.
Online search, dominated by Google for 25 years, has become as banal as making a phone call, but it could finally be getting a profound reset thanks to artificial intelligence.. "We could have had this same conversation about four years ago with the advent of voice assistants like Alexa or Siri," "Oh wow, search is going away because people are just going to speak their query to their car and device on their kitchen counter.
ExxonMobil settled Monday a long-running lawsuit brought by Indonesian villagers who alleged human rights violations by Indonesian military officials providing security to the oil giant.. Filed in 2001, the case was brought by 11 villagers in Indonesia's Aceh province who allege they were victims of human rights violations committed by the Indonesian military between 1999 and 2003, including sexual assault, battery and unlawful detention.
The former head of Silicon Valley Bank blamed the lender's sudden collapse on a "social media fueled run" on it, according to congressional testimony released Monday.. "Silvergate's failure and the link to SVB caused rumors and misconceptions to spread quickly online, leading to the start of what would become an unprecedented bank run," Becker said in his testimony.
President Joe Biden will reconvene crunch debt talks Tuesday with senior Republican leaders including House Speaker Kevin McCarthy in another attempt to avert a costly US default.. President Biden has rebuffed many of these proposals, accusing Republicans of "holding the economy hostage" to further their political objectives.
