Former JetBlue CEO Hayes to lead Airbus in North America

The Telegraph
Apple suffers $91bn hit to sales as Chinese shoppers ditch iPhones
Apple has suffered its biggest drop in iPhone sales for more than three years as Chinese shoppers turn away from the company and embrace domestic rivals such as Huawei.
BBC
Apple sales fall in nearly all countries
The tech giant says demand for its smartphones fell more than 10% in the first three months of the year.
AFP News
Record loss for Russia's Gazprom as European market closed
Russian energy giant Gazprom said Thursday it suffered a record annual loss last year as the European market was practically shut to its gas exports due to sanctions over Moscow's military operation in Ukraine.Exports to Europe have long been Gazprom's top earnings source, but following the start of the conflict in Ukraine European nations sought to reduce their reliance upon Russian natural gas.
Reuters
Insurer Chubb prepares to pay $350 mln in Baltimore bridge collapse, WSJ reports
Chubb, the insurer of Baltimore's Francis Scott Key Bridge that collapsed in March, is preparing to make a $350 million payout to the state of Maryland, the Wall Street Journal reported on Thursday. The payment is expected to be authorized within weeks, the report said, citing a statement from Henry Daar, head of property claims North America for WTW, the bridge's broker. The $350-million payout could be the first of many related to the disaster that analysts have said might cost insurers up to $4 billion, making it a record shipping insurance loss.
GOBankingRates
Jaspreet Singh Says Learning 5 High-Income Skills Will Help You Make More Money
When you were a kid, you might have learned from parents, teachers or friends that the best way to earn a high income in adulthood is to get a college degree and become a doctor, lawyer or some other...
GOBankingRates
25 Ways To Make an Extra $500 a Month
With inflation pushing up the cost of daily life just about everywhere you go, people from all over the country are looking for ways to lower their spending -- but even that isn't enough in most...
Reuters
Strong copper price reviving Peru's mining mojo, minister says
Peru's dented mining mojo, hit by years of political turmoil in the Andean country, is being buoyed by strong copper prices and a bullish outlook they will rise further, helping lure back investor interest, the country's mining minister said on Friday. "The price of copper is a great attraction," Romulo Mucho, told Reuters in an interview at his office, a reference to prices that hit two-year peaks of $10,208 a metric ton this week, close to the record high of $10,845 in March 2022. Goldman Sachs earlier in the day hiked its year-end price target to $12,000 per ton, from $10,000 previously, citing the copper market's path into scarcity and expectations of a larger deficit of the key metal needed for electrification.
Moneywise
Over 30 million baby boomers will turn 65 soon — but two-thirds are not financially ready for retirement
Over half of these “peak boomers” have $250K or less in assets.
The Independent
‘The decisions you’re making are going to end with a smoking hole in the ground’: Inside the Boeing catastrophe
‘They were always caught flat-footed by some terrible problem that many people in the workplace knew would happen... And that happened over and over and over and over and over again.’ Io Dodds reports on a corporate nightmare
Reuters
Morgan Stanley, Frasers settle UK lawsuit over $1 bln margin call
British retail tycoon Mike Ashley's Frasers Group has withdrawn its London lawsuit against Morgan Stanley over a nearly $1 billion margin call, a spokesperson for the Wall Street bank said on Friday. Frasers had sued Morgan Stanley for about 47 million euros ($50.5 million) after the bank imposed the margin call – security to cover possible losses – on the retailer's trading position in German fashion group Hugo Boss in May 2021. Ashley, whose fortune is estimated by Forbes to be worth $5.1 billion, gave evidence at the trial at London's High Court in February that the demand for collateral left him in "total shock".
CNN Business
Restaurants are competing for frugal diners’ dollars
Dining out these days might seem like a luxury for Americans pinched by inflation. For some restaurants, it feels like a battle to get them to spend.
Reuters
Oil settles near 7-week lows, focus shifts to economy
NEW YORK (Reuters) -Oil prices settled on Thursday near their lowest level in seven-weeks, narrowly mixed and under pressure from weaker global demand, rising inventories and fading hopes for a quick cut in U.S. interest rates. U.S. West Texas Intermediate crude futures fell 5 cents to settle at $78.95 a barrel, the lowest since March 12. Both benchmarks closed below their 200-day moving average, which is the key technical indicator of a bear market shift in crude oil prices, StoneX oil analyst Alex Hodes said.
Reuters
Analysis-Heavy oil shortage spells higher cost for shippers, road builders
Mexican export cuts and a rerouting of Canadian output are shrinking already limited supplies of heavy crude in the Atlantic basin, driving up refiners' costs with a likely knock-on effect to industries ranging from shipping and construction to Middle Eastern power plants. Heavy-sour crudes yield more residual fuel oils that are either upgraded into higher-value road fuels, or converted into marine fuels and bitumen. "The combination of tighter heavy crude and fuel oil supplies, as well as the seasonal rise in power generation demand is expected to push up fuel oil cracks in the weeks ahead," said Vortexa analyst Xavier Tang, referring to the spread between the price of crude and the refined product.
CoinDesk
MoonPay Users Can Now Buy Crypto Via PayPal
MoonPay users in the U.S. can seamlessly buy crypto with PayPal. PayPal extends its offering of crypto tokens thanks to MoonPay. Cryptocurrency buying app MoonPay has partnered with fintech giant PayPal (PYPL), the companies said on Thursday.
Fortune
The ‘father of the 401(k)’ talks about the death of pensions, the future of retirement, and what disturbs him most about his own creation
Retirement legend Ted Benna says the savings model isn’t for everyone, but he would do it all over again.
Yahoo Finance
Whether Wall Street garden leaves survive noncompete ban is an 'open question'
Some 'garden leave' agreements that Wall Street uses to protect secrets are expected to survive the FTC's new noncompete ban, but some probably won't.
Reuters
WRAPUP 4-US job gains fewest in six months as labor market cools
U.S. job growth slowed more than expected in April and the increase in annual wages fell below 4.0% for the first time in nearly three years, but it is probably too early to expect that the Federal Reserve will start cutting interest rates before September as the labor market remains fairly tight. The Labor Department's closely watched employment report on Friday also showed the unemployment rate rising to 3.9% from 3.8% in March amid increasing labor supply.
Reuters
Google trial wraps up as judge weighs landmark US antitrust claims
WASHINGTON (Reuters) -Google and the U.S. Justice Department wrapped up closing arguments on Friday over claims that the Alphabet unit has unlawfully dominated web search and related advertising, in a case the government contends could shape the “future of the internet.” U.S. District Judge Amit Mehta in Washington for hours grilled both sides with questions, probing whether competitive platforms such as ByteDance’s TikTok and Meta’s Facebook and Instagram are competitive substitutes for search advertising dollars. Mehta said a central issue was platform “substitute-ability” for advertisers, which the court must resolve.
Reuters SG
Deals of the day-Mergers and acquisitions
** Sony Pictures Entertainment (SPE) and Apollo Global Management have made a $26 billion cash offer for Paramount Global, the Wall Street Journal reported. ** Britain's competition watchdog said that Pennon Group's acquisition of Sutton and East Surrey (SES) Water could hurt the water regulator's ability to make comparisons between water companies. ** The UK's competition regulator launched an in-depth probe into Lindab's acquisition of British ventilation company HAS-Vent, after the Swedish firm did not offer any undertaking following the watchdog's initial investigation.
Reuters
Google faces closing arguments in US market power trial
The U.S. government will layout its antitrust case against Alphabet's Google in closing arguments on Thursday, wrapping up a trial in which the online search leader is accused of breaking the law to stay on top. The U.S. government has hammered away at Google in a trial that started Sept. 12, arguing Google is a monopolist and illegally abused its power to favor its bottom line. The second, against Meta, was also filed during the Trump administration, while Biden's antitrust enforcers have followed with a second case against Google and cases against Amazon.com and Apple Inc.

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Former JetBlue CEO Hayes to lead Airbus in North America

Latest stories

Apple suffers $91bn hit to sales as Chinese shoppers ditch iPhones

Apple sales fall in nearly all countries

Record loss for Russia's Gazprom as European market closed

Insurer Chubb prepares to pay $350 mln in Baltimore bridge collapse, WSJ reports

Jaspreet Singh Says Learning 5 High-Income Skills Will Help You Make More Money

25 Ways To Make an Extra $500 a Month

Strong copper price reviving Peru's mining mojo, minister says

Over 30 million baby boomers will turn 65 soon — but two-thirds are not financially ready for retirement

‘The decisions you’re making are going to end with a smoking hole in the ground’: Inside the Boeing catastrophe

Morgan Stanley, Frasers settle UK lawsuit over $1 bln margin call

Restaurants are competing for frugal diners’ dollars

Oil settles near 7-week lows, focus shifts to economy

Analysis-Heavy oil shortage spells higher cost for shippers, road builders

MoonPay Users Can Now Buy Crypto Via PayPal

The ‘father of the 401(k)’ talks about the death of pensions, the future of retirement, and what disturbs him most about his own creation

Whether Wall Street garden leaves survive noncompete ban is an 'open question'

WRAPUP 4-US job gains fewest in six months as labor market cools

Google trial wraps up as judge weighs landmark US antitrust claims

Deals of the day-Mergers and acquisitions

Google faces closing arguments in US market power trial