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Portugal picks Air France-KLM and Lufthansa to make offers for TAP

Portugal on Thursday asked Air France-KLM and Lufthansa to make binding offers to buy a controlling stake in TAP Air Portugal, as the government seeks to privatise an airline it rescued during the Covid-19 pandemic.

Nestle sales slump under strong franc but volumes recover

Nestle, the food giant whose brands include Nespresso coffee and Perrier water, saw first-quarter sales figures slump due to the strong value of the Swiss franc and a baby formula recall, but sales volumes overall edged higher.

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AT&T, Verizon agree to delay 5G implementation at some airports

AT&T and Verizon agreed Tuesday to a partial delay in activating their 5G networks following an outcry from US airlines, who said the rollout could lead to travel chaos.

Judge OKs adjustment plan to end Puerto Rico bankruptcy

A federal judge on Tuesday approved a plan to restructure Puerto Rico's public debt, which will allow the US territory to end the bankruptcy process it declared almost five years ago.

'Throwaway economy' thwarting climate goals: report

Countries are neglecting the massive impact of the "throwaway" economy on planet-warming emissions, according to research published Wednesday that calculated more than half a trillion tonnes of virgin materials have been consumed since the 2015 Paris climate deal.

Covid tests spark Argentine supply chain fears over border queues

Up to 2,000 trucks are backed up at Argentina's main border crossing with Chile due to tougher Covid-19 testing requirements, Argentine haulers said on Tuesday, adding that the supply chain could suffer.

Oil hits seven-year highs on recovery hopes, unrest

Oil prices hit their highest levels in more than seven years Tuesday, driven in part by hopes of a global economic recovery that would ramp up demand.

Microsoft to buy gaming giant Activision Blizzard for $69 bn

Microsoft on Tuesday announced a landmark $69 billion deal to buy US gaming giant Activision Blizzard, betting big on the prospects of the video game market by scooping up the scandal-hit "Call of Duty" maker.

AT&T agrees to delay 5G implementation at some airports

AT&T will delay activating its 5G network on a "limited number of towers" near some airport runways following warnings from US airlines, a spokesperson for the telecommunications company said Tuesday.

IMF risks losing legitimacy over Argentina loan: minister

Argentina's economy minister, renegotiating a massive loan with the International Monetary Fund, warned the lender risked losing credibility if it "pushes" the country "into a destabilizing situation."

Poland, Hungary resist EU's corporate minimum tax push

The EU's effort to implement an internationally agreed minimum tax on big multinationals was met with opposition by Poland and Hungary on Tuesday, endangering a major priority of France's presidency of the bloc.

Toyota yearly production target hit by chip shortage

The world's top-selling carmaker Toyota said Tuesday it no longer expects to meet its annual production target with operations hampered by the global chip crunch.

Tongan Olympic flagbearer Taufatofua prays for news of father

Tongan Olympic flagbearer Pita Taufatofua -- who made global headlines for going bare-chested at the Games -- is praying for news of his father after failing to hear from him following a devastating tsunami.

UK jobs picture robust as Omicron struck

Britain's unemployment rate dropped and payrolls recovered further at the end of last year despite the onset of the Omicron variant, official data showed Tuesday.

China orders overseas mail disinfection over Omicron fears

China's postal service has ordered workers to disinfect international deliveries and urged the public to reduce orders from overseas after authorities claimed mail could be the source of recent coronavirus outbreaks.

Bank of Japan lifts inflation forecast, no policy change

Japan's central bank revised its inflation forecast on Tuesday and adjusted its view of price risks, while leaving its monetary easing policy in place in a nod to lingering pandemic uncertainty.

US airlines warn of 'calamity' if 5G deployed near airports

The chief executives of America's largest airlines warned of a "catastrophic disruption" to travel and shipping operations if telecommunication firms roll out their 5G technology as planned Wednesday without limiting the technology near US airports.

Activision says it fired dozens over harassment allegations

The video game giant Activision Blizzard said Monday it has fired nearly 40 employees and disciplined more than 40 others since July as it deals with allegations of sexual harassment and other misconduct.

US airlines warn of 'chaos' if 5G not limited near airports: letter

The chief executives of America's largest airlines warned ahead of Wednesday's 5G service rollout that the technology should be limited near US airports, or risk "significant operational disruption" to travel and shipping.

Unexpected star of gay rights best-seller, Pence family rabbit dies

The family of former US vice president Mike Pence has announced the death of Marlon Bundo, their pet rabbit who starred in a children's book series by the second family as well as a parody version supporting gay rights.

Credit Suisse chief quits over Covid rules breach

The chairman of Credit Suisse resigned Monday over Covid quarantine violations, leaving the bank's new risk committee chief holding the reins and tasked with trying to stabilise the scandal-hit institution.

European stocks rise tracking big corporate news, China growth

European stock markets climbed on Monday as China's unexpectedly muted growth slowdown and optimism over the impact of the Omicron coronavirus variant boosted investor confidence.

Canada health authority approves Pfizer's anti-Covid pill

Canada's health authority said Monday it has approved Pfizer's anti-Covid pill, Paxlovid, for adults at high risk of progressing to serious disease.

Covid-flu joint booster jab possible late 2023: Moderna

Moderna aims to roll out a combined Covid-flu-RSV booster vaccine in late 2023, the US pharmaceutical firm said Monday, hoping a joint jab would encourage people to get an annual shot.

Arizona Tribune - Economy (English)