Money

Canada says Russian flight violated its airspace

Published

4 years ago

February 28, 2022

ticker NEWS

Canadian officials have launched an investigation into a Russian Aeroflot flight which violated an airspace ban

Canada says that a civilian Russian flight by the call sign of Aeroflot Flight 111 violated a ban on Russian flights in Canadian airspace.

Aeroflot flight 111 was travelling from Miami, Florida, to Moscow, passing over Canada’s eastern coast on the way.

“We are aware that Aeroflot flight 111 violated the prohibition put in place earlier today on Russian flights using Canadian airspace”
Transport Canada stated.

The Canadian Government Twitter account stated that an official review would be held following the violation.

Aeroflot is Russia’s flag-carrier airline and the country’s largest.

The EU and Canada have since closed their airspace to Russian operators including Aeroflot due to the war in Ukraine, which was declared by Russian President Putin after Russian troops invaded Ukraine.

Money

France receives lowest credit rating due to crisis

France’s credit rating downgraded to record low amid political and fiscal crisis, raising concerns over debt and stability

Published

15 hours ago

September 13, 2025

Ahron Young

France’s credit rating downgraded to record low amid political and fiscal crisis, raising concerns over debt and stability

In Short:
– Fitch Ratings downgraded France’s credit rating to A+, citing political instability and fiscal challenges.
– New Prime Minister Lecornu must secure budget approval amidst rising deficit and potential no-confidence vote.

Fitch Ratings has downgraded France’s credit rating from AA- to A+, the lowest ever recorded, amid ongoing political and fiscal challenges.

The decision comes shortly after Prime Minister François Bayrou was removed in a vote of no confidence regarding his €44 billion austerity plan.

President Emmanuel Macron has appointed Sébastien Lecornu as the new prime minister, marking the fifth leadership change in under two years.

Fitch highlighted political instability as a key factor undermining fiscal reforms, with France’s debt now at €3.3 trillion, or 113.9% of GDP.

The budget deficit increased to 5.8% of GDP and is expected to rise, posing challenges ahead.

Political Instability

The new prime minister faces a divided parliament and must secure budget approval by October 7.

The far-left plans a no-confidence vote against Lecornu, complicating further cooperation on legislative reforms, with S&P Global hinting at a potential downgrade.

Money

Trump moves to fast-track removal of Fed governor Lisa Cook

Published

1 day ago

September 12, 2025

ticker NEWS

The White House is set to fast-track a ruling on firing Federal Reserve Governor Lisa Cook, just days before the crucial FOMC meeting.

The move comes as markets reel from surging inflation, weak jobless data, and global currency shifts, raising questions about the Fed’s independence and the stability of policy decisions.

Money

ANZ job cuts spark banking clash

ANZ plans to cut 3,500 jobs, sparking debate on the future of Australia’s banking sector and employment dynamics.

Published

4 days ago

September 10, 2025

ticker NEWS

ANZ plans to cut 3,500 jobs, sparking debate on the future of Australia’s banking sector and employment dynamics.

ANZ has announced plans to cut 3,500 staff and 1,000 contractors over the next year, triggering a fierce debate between business leaders, unions, and government about the future of Australia’s banking sector.

The decision raises wider questions about the resilience of the business community and the role of politics, productivity, and technology in shaping employment.

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