Share to Twitter Share to Linkedin United Airlines CEO Oscar Munoz and President Scott Kirby thanked their 90,000 workers Friday afternoon for pressing lawmakers to pass a $2 trillion stimulus package with $58 billion in funding for beleaguered U.S. airlines , half of it grant aid to cover their payrolls and prevent layoffs through Sept. 30. That’s not long enough to get the industry out of the woods, the United executives warned. They expect the downturn in travel from the coronavirus pandemic to last well beyond that date, and require painful cuts. “If the recovery is as slow as we fear, it means our airline and our workforce will have to be smaller than it is today,” they said in a letter to staff that was publicly released. United has reduced its April schedule by more than 60%, Munoz and Kirby wrote, and even with that, load factors will likely fall into the teens or single digits. Deeper cuts are planned for May and June. “Based on how … [Read more...] about United Airlines To Workers: Expect Layoffs After Bailout Restrictions End
Life expectancy charts by year
2022 Year In Review: Crypto Policy Experiences Massive Turbulence In Congress Amid TerraUSD And FTX Failures
Share to Twitter Share to Linkedin What Happened In 2022 Even before a months-long winter engulfed the digital-assets market, 2022 was shaping up as the year that Washington began to get serious about regulating the cryptocurrency business. That resolve was bolstered throughout the year by a series of calamities that included a massive stablecoin failure of terraUSD and the associated luna, with contagion effects that impacted BlockFi, Celsius Network and Voyager Digital exchange that called into question the ability of crypto exchanges to be digital asset custodians that would protect investors’ assets. Essentially, the crypto industry managed to recreate the same risks of the traditional banking system, in which the institutions that were responsible for holding customer’s assets were simultaneously lending funds, leading to leverage, liquidity and capital conflicts. Before the year could end, the third-largest exchange, FTX – previously seen as a … [Read more...] about 2022 Year In Review: Crypto Policy Experiences Massive Turbulence In Congress Amid TerraUSD And FTX Failures
What To Expect From The Serie A January Transfer Market Window As Teams Work With Limited Budgets
Share to Twitter Share to Linkedin The Serie A January transfer market window will suffer significantly from the financial wounds inflicted by the coronavirus pandemic. This winter, Serie A fans will not experience the same calciomercato liveliness that, in recent years, has brought high-profile names to Italian soccer, such as Cristiano Ronaldo , Zlatan Ibrahimović , Romelu Lukaku, and Christian Eriksen. That is the argument supported by Eleonora Trotta, who has been covering Serie A’s transfer market news for more than a decade as an editor for Italian online newspaper Calciomercato.it . Trotta explains that a lack of funds is forcing sporting directors across all Serie A clubs to take a very prudent approach to transfer negotiations. “The main trend is that the budget (for clubs) does not exist,” Trotta told me. “It’s basically zero.” A Risk-Averse Approach Because clubs cannot afford investing in risky transfer deals, … [Read more...] about What To Expect From The Serie A January Transfer Market Window As Teams Work With Limited Budgets
OnePlus 11 official design leaked online, January 2023 launch tipped
The launch of the next OnePlus flagship smartphone is just around the corner. The OnePlus 11 is expected to launch sometime early next year in January 2023. According to previous leaks, the vanilla OnePlus 11 will debut in China, India, and other markets early next year, while other models will follow soon after. Now, new images of the OnePlus 11 have surfaced courtesy of OnLeaks and GadgetGang revealing its design. The image shows the OnePlus 11 in two new colours – a black model and a greyish-green variant. They will likely be called Volcanic Black and Forest Emerald. The leaked renders also reveal the addition of the power button and alert slider on the right and volume rocker on the left. The OnePlus 11 also appears to have the same design language as the OnePlus 10 Pro ( Review ) with the camera island blending into the frame. However, the OnePlus 11 will feature a circular camera island as opposed to the box shape on the OnePlus 10 Pro 5G. Additionally, the … [Read more...] about OnePlus 11 official design leaked online, January 2023 launch tipped
Budget 2023: ‘Green Growth’ among 7 priority sectors for govt
These green growth efforts will help in reducing carbon intensity of the economy and provide for large-scale green job opportunities, Sitharaman said. Union Finance Minister Nirmala Sitharaman on February 1 said “green growth” will be one of the seven priority sectors (“Saptarishi”) of the Union Budget 2023. In her Budget speech, she explained that the “green growth” priority sector will include multiple programmes on green fuel, green energy, green farming, green mobility, green buildings and green equipment. This will also include policies for efficient use of energy across various sectors, Sitharaman said. "These green growth efforts will help in reducing carbon intensity of the economy and provides for large scale green job opportunities," she said. Read Budget LIVE updates here The announcement means India will take a multi-pronged strategy to accelerate clean, carbon-free fuels across different sectors of the economy. India has already increased the solar … [Read more...] about Budget 2023: ‘Green Growth’ among 7 priority sectors for govt
Economic Survey 2023: Total assets under FPIs grow despite huge outflows
Moneycontrol looks into major sectors that are poised to generate employment as per the Economic Survey 2023. Total assets under custody of Foreign Portfolio Investors (FPIs) increased by 3.4 percent owing to the strong macroeconomic fundamentals of the Indian economy and improvement in market risk appetite from time to time, according to the Economic Survey 2022-23 released by the Finance Ministry on January 31. Despite the uncertain macro environment considering the inflation and geopolitical concerns, the total assets under custody of FPIs increased to Rs 54.0 lakh crore at the end of November 2022 as compared to Rs 52.2 lakh crore at the end of November 2021. Ironically, this increase comes at a time when Indian equities are witnessing huge FPI outflows. Also Read | Economic Survey 2023 shines light on growing demat accounts tally, flags declining additions During FY23, if we look at the overall net investments by FPIs, the market saw an FPI outflow of Rs … [Read more...] about Economic Survey 2023: Total assets under FPIs grow despite huge outflows
Lies, Damn Lies, Payroll Data
Share to Twitter Share to Linkedin The big spike in the Payroll data (+517K) was out of kilter with what has been occurring in the rest of the economy and in other labor market data. Financial markets always shoot first and ask questions later, so, on Friday, equity markets fell and bond yields rose on the fear that the Fed would now have a great excuse to raise interest rates even further than what was already priced in. The far-right hand sides of the above charts show the violent up spikes in the yields of the 10-Yr. and 2-Yr. T-Notes on Friday (February 3). As reported by various reliable sources with deep research capabilities, most or all of the +517K job gains wasn’t due to new job creation, but to benchmark revisions, seasonal adjustments, and population controls , all keywords for what we can only describe as statistical magic . Morgan Stanley MS concluded that without the population adjustments, the Household Survey (which was up an even … [Read more...] about Lies, Damn Lies, Payroll Data
‘Avatar’ Sequel Won’t Sink ‘Titanic’ As 3rd Highest Grossing Film
Share to Twitter Share to Linkedin The battle for the bronze on all-time box office charts heats up this weekend, as Avatar: The Way of Water has one last chance to surge ahead of Titanic before that film sets sail again on a 25th anniversary voyage in one week. But unless it overperforms and defies the odds yet again, James Cameron’s blockbuster Avatar sequel won’t sink Titanic as the third-highest grossing film in cinema history. At least, not without a re-release of its own. As of Friday morning, Avatar: The Way of Water needed about $64 million to top Titanic . This weekend, I expect The Way of Water t0 sail toward $8-10 million stateside and around $30+/- million internationally, so conservatively call it $35-40 million, cutting the distance between Avatar 2 and Titanic to somewhere between $20-30 million. But if The Way of Water exceeds my estimates this weekend (and it’s been defying predictions all along), then the Avatar … [Read more...] about ‘Avatar’ Sequel Won’t Sink ‘Titanic’ As 3rd Highest Grossing Film
Flying colours: Future flights to have more orderly disembarking system
Airbus converted one of its A350 XWB aircraft into the 'Airbus Explorer' to showcase its innovations (Picture Credit: Ameya Joshi) More often than not, one hears the click-click of seat belts being unfastened the moment an aircraft touches down. In some parts of the world, India included, passengers rush to deplane as soon as the aircraft halts – even if it is to wait for a bay. When India’s civil aviation operations restarted in May 2020 after the first COVID-19 wave, it was a challenge to implement row-wise deplaning. While passengers largely followed the system in the initial days, even complying with mandatory mask-wearing became tough, until it was dropped completely. The future, however, could be different. Also Read | Time to refresh airline on-time performance metric for level playing field Airbus is introducing a solution to aid orderly and safe disembarking and avoid crowding of the aisles, among other things, as it seeks to sell more planes across the … [Read more...] about Flying colours: Future flights to have more orderly disembarking system
Alienware X15 R2 Review: A premium yet portable gaming laptop that packs a powerful punch
Alienware is a brand synonymous with gaming. The company is renowned for its over-the-top approach in gaming desktops and laptops, not to mention their unique aesthetics. However, the Alienware X15 laptop arrives in a new world, where manufacturers are looking to slim down and deviate from the traditional chunky gaming laptop designs. With the X15 R2, Alienware accomplishes this by offering a powerful gaming laptop in a thin and light design. I never got around to testing the Alienware X15 R1, so this is my first experience with Alienware’s slimmest gaming laptop series. But just how much has Alienware had to compromise to deliver a powerful gaming laptop in this slim chassis, let’s find out! Design and Build First off, it is nice to say that despite the slim form factor, Alienware has retained its traditional futuristic design on the X15 R2. The notebook is offered in a Lunar Light dual colour scheme, which tends to stand out from the matte black crowd. The off-white lid … [Read more...] about Alienware X15 R2 Review: A premium yet portable gaming laptop that packs a powerful punch