A Quick Look at World Affairs – Taipei Times
Lufthansa cuts losses
German carrier Lufthansa AG said yesterday it had cut losses by two-thirds last year, but warned of uncertainty for the industry from the COVID-19 pandemic and the invasion Russian from Ukraine. Europe’s largest airline group – which includes Eurowings, Austrian, Swiss and Brussels Airlines – recorded a net loss of 2.2 billion euros ($2.4 billion), compared with a net loss of 6.7 billion euros a year earlier. Lufthansa said it expected business to improve this year, but warned that the rising cost of oil would create “additional burdens” for the group.
The LSE increases its dividend
London Stock Exchange Group PLC (LSE) raised its annual dividend by 27% as the exchange issued an upbeat outlook for this year and said the integration of Refinitiv was on track. The company proposed a final dividend of £0.95 per share, ahead of estimates, as the stock exchange reported adjusted earnings before interest, tax, depreciation and amortization of £3.3bn ($4.4bn). dollars), she said in a statement yesterday. “We produced a strong financial performance, met or are ahead of all targets and have good momentum through 2022,” chief executive David Schwimmer said in the statement.
Amazon closes its bookstores
Amazon.com Inc is closing all of its physical bookstores, along with its 4-star stores and pop-up locations, as the online retail giant reworks its physical footprint. The Seattle-based company said Wednesday that the move, which affects 66 stores in the US and two in the UK, would allow it to focus its efforts on Amazon Fresh, Whole Foods Market, its convenience concept called Amazon Go and its next Amazon Style Shops. Amazon Style, which will sell fashion and accessories, is set to open in a Southern California mall later this year.
Inflation at its highest for 20 years
The annual inflation rate hit a two-decade high last month, Institute of Statistics data showed yesterday, amid a weaker currency and President Recep Tayyip Erdogan’s policy to cut interest rates. Consumer prices rose 4.8% last month from the previous month and annual inflation hit 54.4%, the data showed. The rising cost of living has become a major source of public discontent in the country as Erdogan seeks to win next year’s presidential election. The lira lost 44% of its value against the US dollar last year.
Oil producers hold firm
Saudi Arabia, Russia and other major oil producers agreed on Wednesday not to open the taps gradually, despite Russia’s attack on Ukraine sending prices soaring. The 23-member OPEC+ group – in back-to-back monthly meetings that lasted less than an hour – stuck to a decision from last year for a production target of 400,000 barrels a day for next month. also. OPEC+ has so far resisted pressure from major oil consumers, such as the United States, to open the taps further as some of its members, including Nigeria and Angola, struggle to meet the quotas. Yesterday, Brent continued to climb, at one point hitting US$119.84 a barrel for the first time since the start of 2012. West Texas Intermediate touched US$116.57 for the first time since 2008.
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