Economy

The billionaire owner of Patagonia has sold his company to an environmental and non-profit trust. The company will continue to produce outdoor clothing, camping supplies and other goods, but now all proceeds will go to organizations to tackle the climate crisis. Yvon Chouinard, the company’s founder and reluctant billionaire, said when the decision was announced: …

Billionaire Patagonia founder donates company to fight climate crisis | Climate News Read More »

FedEx shares posted their biggest daily decline on record after the company warned of its outlook and said it would close offices, freeze hiring and park planes in response to a drop in shipping volumes. parcel shipping. The update, from a company seen as a gauge of global economic growth because of the wide range …

FedEx shares plunge after earnings warning linked to sluggish economy Read More »

Hopes that the Federal Reserve could stage a soft landing for the U.S. economy took a hit on Tuesday when a crucial measure of inflation beat forecasts and triggered a sharp sell-off on Wall Street. The consumer price index rose 0.1% in August, above economists’ expectations for a 0.1% decline. More worrying for policymakers, core …

Rising inflation raises fears of a hard landing for the US economy Read More »

“A UK network provider serving the cloud-based system experienced a major connectivity breakdown,” the Dublin-based carrier said in a statement. The airline later restored its IT system and said it was taking steps to bring all of its systems back online, adding that it “sincerely apologizes” to its customers. RyanAir, an Irish low-cost airline, said …

Aer Lingus cancels all flights from Dublin Read More »

Brussels is seeking to move forward with an exceptional levy on European power companies by setting a threshold at less than half of current market rates. In draft proposals seen by the Financial Times, the European Commission recommends that governments impose a tax on revenues generated by non-gas electricity producers when market prices exceed €200/MWh. …

EU seeks one-off tax trigger well below market rate Read More »

A rail disruption summer is set to continue in the fall after the announcement of new strikes in September. Rail services were severely hampered around the UK due to a series of walkouts between June and August, in long-standing disputes over wages, pensions and working conditions. Royal Mail staff, garbage collectors and lawyers are among …

When train strikes are expected in September 2022 and which UK lines will be affected Read More »