Money
The shocking true cost of Covid-19 on the travel industry
Airlines and travel companies have revealed shocking revenue losses caused by Covid-19 travel restrictions
Across the board, airlines and other travel companies have recorded devastating losses as a result of Covid-19 travel restrictions.
The Qantas Group reports substantial losses of $1.83 billion before tax
The Qantas group has just released it full year results for this year, and the results are devastating.
The major airline has reported a massive loss of $1.83 billion before tax, or $2.35 billion after. The airline has already lost $12 billion as a result of the Covid-19 crisis.
Qantas CEO Alan Joyce said this morning, “total revenue lost since the start of the pandemic rose to around $16 billion – and it’s likely to exceed $20 billion by the end of this year.”
Air New Zealand records second annual loss
Air NZ has also posted a loss of $307 million. The airline’s operating revenue was down 48% last year.
This comes as the airline’s second annual loss in a row, also suspending earnings guidance.
This comes as the country grapples with an outbreak of the deadly Covid-19 Delta strain and harsh lockdown restrictions.
Emirates reports massive loss of $6 billion, with revenue falling 62%
Despite accepting $3.1 billion in government assistance funds, Emirates has emerged from the pandemic hardly unscathed.
The airline also had to let almost a third of its staff go at the beginning of the pandemic.
Emirates aircraft took 88% fewer passengers in the last two years, only managing to fill an average of 44% of seats. Before Covid, this figure was around 79%.
Money
U.S. jobs report, Fed decisions, and Japan’s economic risks explained
January US jobs report sparks uncertainty; analysts debate impact on Federal Reserve policy and market confidence.
January US jobs report sparks uncertainty; analysts debate impact on Federal Reserve policy and market confidence.
The January US jobs report shows a mixed picture for the economy, with payroll revisions and steady unemployment leaving analysts questioning the impact on Federal Reserve policy. We break down what the numbers mean for interest rates and market confidence.
US stock markets could face turbulence as investors digest the latest jobs data. David Scutt from StoneX explains how these figures may influence equities and what the outlook is for global markets.
Meanwhile, developments in Japan and a strengthening yen could spark new macroeconomic risks. From carry trades to unexpected shocks, we explore how these factors ripple across the global economy.
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#USJobsReport #FederalReserve #StockMarket #MacroRisks #JapanEconomy #GlobalMarkets #CurrencyTrading #EconomicUpdate
Money
Alphabet launches $20B bond to fund AI expansion
Alphabet’s $20B bond offering highlights investor confidence in AI growth, enabling funding without shareholder dilution.
Alphabet’s $20B bond offering highlights investor confidence in AI growth, enabling funding without shareholder dilution.
Alphabet has launched a record $20 billion bond offering to finance its massive AI infrastructure build-out, signalling strong investor confidence in the company’s growth strategy. The oversubscribed sale shows that investors are betting on Alphabet’s AI potential and long-term returns.
By using debt instead of equity, Alphabet can raise funds without diluting shareholders. The money will support AI research, advanced computing, and other strategic projects, cementing the company’s leadership in the sector.
Brad Gastwirth from Circular Technologies explains how corporate debt is reshaping tech financing and how investors perceive AI-linked bonds. This record issuance could set a trend for other tech companies looking to fund innovation.
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Money
AI tax tool sparks market turmoil for financial firms
Major financial firms’ stocks fell sharply after an AI tax tool launch, raising investor fears of disruption in advisory services.
Major financial firms’ stocks fell sharply after an AI tax tool launch, raising investor fears of disruption in advisory services.
Shares of major financial services firms tumbled after the launch of a new AI-powered tax planning tool. LPL Financial dropped nearly 11%, while Charles Schwab and Raymond James Financial fell more than 9%, signalling investor concern over AI disrupting traditional advisory services.
Morgan Stanley also saw a 4% decline as fears grow that AI could replace some of the most profitable offerings of established firms. Earlier this year, the introduction of other AI models already caused turbulence in software stocks, suggesting this could be a broader trend affecting multiple sectors.
The iShares U.S. Broker-Dealers and Securities ETF was down 4% on Tuesday, reflecting the market-wide uncertainty surrounding AI adoption in finance. Investors are closely watching whether AI will complement or cannibalise the industry’s core services.
#AIImpact #WallStreet #FinancialMarkets #InvestingNews #MorganStanley #CharlesSchwab #RaymondJames #FinTech
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