Former Commonwealth Treasury official Gene Tunney says the federal government must cut spending to have any chance of reining in inflation. Tunney, now-director of Adept Economics, says multiple factors contributed to Australia’s current inflation rate of 5.1 percent—likely to be higher at the next announcement—including the war in Ukraine and billions in COVID-19 era subsidies….
Government Must Cut Spending or Risk Inflaming Inflation: Economist
July 18, 2022
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Asia & PacificAustraliaAustralian budgetBusiness & MarketsBusinesses in COVID-19CCP Viruseconomic policiesInternationalJim ChalmersWorld
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Lufthansa Cancels 2,000 Additional Flights
BERLIN—Lufthansa is cancelling an additional 2,000 flights from Frankfurt and Munich this summer, the German flagship carrier said on Wednesday, citing staffing shortages at airports as well as industrial action and the ongoing COVID-19 pandemic. “Lufthansa has implemented numerous measures and is recruiting additional staff wherever possible to ensure the greatest possible stability of the…
Boeing Deliveries Reach Highest Monthly Level Since March 2019
Boeing Co delivered 51 airplanes in June to bring its first-half tally to 216 jets, up 38% from the same period last year, pushing its shares sharply higher on Tuesday. June’s deliveries exceeded the 50 threshold for the first time since March 2019 and included 43 Boeing 737 MAX, which is recovering from a nearly…
UK Government Inaction Partly to Blame for Airport Disruptions: Industry Boss
July 11, 2022
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Business & MarketsBusinesses in COVID-19CCP VirusCompanieseconomic policiesGrant ShappsRishi SunakUKWorld
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The UK government’s unwillingness to listen to the travel industry and address staff shortages has contributed to the continuing airport disruptions, the boss of a leading airline services company has said. The disruptions have lasted for months in the UK, resulting in thousands of flights being cancelled and many passengers being forced to wait for…
Wall Street Retreats at Open on Earnings Jitters
Wall Street’s main indexes opened lower on Monday as investors braced for the start of the earnings season, which could see profits come under pressure at a time of growing fears of an economic downturn due to aggressive interest rate hikes. The Dow Jones Industrial Average fell 60.17 points, or 0.19 percent, at the open…
Heathrow Airport Warns More Flight Cancellations Possible If Travel Chaos Continues
London’s Heathrow Airport has said it will ask airlines to cancel more flights this summer if it does not believe previous schedule reductions will sufficiently reduce disruption. The travel chaos has lasted for months in the UK as the aviation industry suffers from severe staff shortages. Airlines and airports made thousands of employees redundant during…
Flights to Get More Expensive ‘Without a Doubt,’ Air Transport Association Chief Warns
Flight prices are set to rise even further as fuel prices continue to soar, Willie Walsh, director-general of the International Air Transport Association (IATA), has warned. Walsh, who previously served as CEO of Aer Lingus and British Airways, told the BBC’s “Sunday Morning” that airlines would ultimately be forced to pass higher oil prices onto customers in…
Red States Chart Faster Economic Recovery Than Blue States
Throughout the United States, an unmistakable pattern has emerged in economic recovery from the lingering effects of the CCP (Chinese Communist Party) virus pandemic: Conservative-leaning states have seen rapid and major economic growth, while the coastal economic powerhouses in the Northeast and West Coast have often lagged behind or stagnated. A recent analysis by Moody’s…
Japan’s Service Sector Activity Grows at Fastest Rate in Over 8 Years: PMI
TOKYO—Japan’s services sector activity expanded at the fastest pace in over eight years in June as the easing of coronavirus curbs boosted sentiment among businesses such as those in tourism. The pick-up in activity is welcome news for a government betting on domestic demand to put the world’s third-largest economy firmly on a recovery track…
UK Cuts Security Check Time for New Airport Staff to Tackle Travel Disruption
The UK government claims to have significantly cut the time it takes for new airport staff to pass security checks in an effort to tackle staff shortages that have caused severe travel disruptions. The travel chaos has lasted for months in the UK as the aviation industry suffers from severe staff shortages. Airlines and airports…
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