Business

Maersk sees global supply chain woes for longer; lifts 2022 guidance

Maersk (MAERSKb.CO) raised its 2022 profit guidance for a second time on Tuesday after beating quarterly revenue expectations as congested global supply chains that have boosted freight rates persist longer than expected. The shipping industry has seen record profits in recent quarters due to a surge in consumer demand and pandemic-related logjams holding up containers […]

Business

Air Canada raises annual cost forecast, misses earnings

Air Canada (AC.TO) on Tuesday missed on earnings as costs rise after posting a smaller quarterly loss and forecasting higher full-year expenses, sending shares down 1% in morning trade. North American carriers are flying more passengers after a pandemic-induced slump, but face rising labor costs and high jet fuel prices, along with staffing shortages and […]

Business

U.S. adds 25 Airbus planes operated by Russian airlines to export violation list

The U.S. Commerce Department on Tuesday will add 25 Airbus airplanes operated by Russian airlines believed to violate U.S. export controls as part of the Biden administration’s sanctions over the Russian invasion of Ukraine, the agency said. The department has previously identified more than 150 Boeing airplanes and one Gulfstream plane that had flown into […]

Business

Airbus delivered over 45 commercial jets in July

Europe’s Airbus (AIR.PA) provisionally delivered just over 45 jetliners in July, two industry sources said on Tuesday. The planemaker declined to comment on the unaudited figure ahead of publication of a monthly status report next Monday. If confirmed after a regular internal audit, the figure would bring deliveries so far this year to just over […]

Business

Uber likely seller of 7.8% stake in India’s Zomato – source, term sheet

Uber Technologies (UBER.N) is the likely seller of a 7.8% stake in Indian food delivery firm Zomato (ZOMT.NS) being disposed of via a $373 million block deal on Wednesday, according to a source with direct knowledge of the matter. The offer size of 612 million shares worth $373 million is based on the lower end […]

Business

Italy’s communication authority fines Google over gambling advertising

Italy’s communication authority said on Tuesday it had fined tech giant Google, owned by parent company Alphabet (GOOGL.O), 750,000 euros ($766,350) for allegedly breaching a ban on gambling advertising on its YouTube video platform. Italy’s AGCOM said in a statement that it had also fined TOP ADS, the creator of the advertisement content, 700,000 euros. […]

Business

Canadian factory activity grows at slowest pace in two years

Canadian manufacturing activity lost further momentum in July as production and new orders declined for the first time since the early stages of the coronavirus pandemic, data showed on Tuesday. The S&P Global Canada Manufacturing Purchasing Managers’ Index (PMI) fell to a seasonally adjusted 52.5 in July from 54.6 in June, its lowest level since […]