Business

Airbus pulls plug on costly A380 superjumbo as sales plummet

European aerospace giant Airbus said Thursday that it would stop building its A380 superjumbo, the double-decker jet which earned plaudits from passengers but failed to win over enough airlines to justify its massive costs.

Business

Size, scope of FTX failure gets clearer as users fear worst

Just days after cryptocurrency's third-largest exchange collapsed, the public is starting to get an idea of how messy FTX's bankruptcy case could be. Other crypto firms are failing as a result of FTX's unraveling, events ...

Business

EU unveils new rules to curb tech giants

The European Union on Tuesday unveiled tough draft rules targeting tech giants like Google, Amazon and Facebook, whose power Brussels sees as a threat to competition and even democracy.

Business

Airlines headed for $84 bln net loss in 2020: IATA

International airlines are in line to make a combined net loss of more than $84 billion this year in the wake of the coronavirus crisis which has decimated air travel, the International Air Transport Association said Tuesday.

Business

Virus-stricken airlines face bailout or bust

Airlines worldwide face an unprecedented existential threat as the coronavirus shuts down global travel, leaving governments with controversial and costly decisions about which carriers to bail out.

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Financial crisis

The term financial crisis is applied broadly to a variety of situations in which some financial institutions or assets suddenly lose a large part of their value. In the 19th and early 20th centuries, many financial crises were associated with banking panics, and many recessions coincided with these panics. Other situations that are often called financial crises include stock market crashes and the bursting of other financial bubbles, currency crises, and sovereign defaults.

Many economists have offered theories about how financial crises develop and how they could be prevented. There is little consensus, however, and financial crises are still a regular occurrence around the world.

This text uses material from Wikipedia, licensed under CC BY-SA