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
Stocks rally ahead of Thanksgiving as markets log four days of gains
Markets gain momentum ahead of Thanksgiving, with the Dow up 388 points and Oracle rising 4% amid investor optimism.
Markets gain momentum ahead of Thanksgiving, with the Dow up 388 points and Oracle rising 4% amid investor optimism.
Markets are moving into the Thanksgiving break with strong momentum, as stocks notch four straight days of gains. The Dow Jones Industrial Average jumped 388 points, while the S&P 500 added 0.9%, pushing both indexes toward their best week since June.
Oracle led major movers, rising more than 4% after Deutsche Bank reaffirmed its bullish outlook on the tech giant. Broad investor optimism continues building across sectors as economic data softens and earnings remain resilient.
All eyes are now on the Federal Reserve and what potential shifts in interest-rate policy may mean for the markets. U.S. markets will close Thursday for the Thanksgiving holiday and reopen Friday for a shortened trading session.
Subscribe to never miss an episode of Ticker – https://www.youtube.com/@weareticker
#Markets #Stocks #Thanksgiving #DowJones #SP500 #Oracle #FederalReserve #FinanceNews
Money
Dow surges 500 points amid rate cut optimism
Dow jumps 569 points on fresh hopes for December rate cut and AI market optimism
Dow jumps 569 points on fresh hopes for December rate cut and AI market optimism
– Dow Jones rose 569 points, reflecting optimism for a Federal Reserve interest rate cut.
– Alphabet’s stock increased as Meta may invest in AI chips, but Nvidia’s declined amid market concerns.
Markets anticipate an 85% chance of a quarter-point rate cut in December, driven by comments from New York Fed President John Williams, who indicated the possibility of lower rates soon. Investor sentiment strengthened following reports that Kevin Hassett may be appointed as the next Fed chair, potentially resulting in a more lenient monetary policy.
Tech Sector
Alphabet saw its stock rise by over 1% after reports indicated that Meta Platforms might invest in its AI chips. This could signal increased demand for AI technology, benefiting the sector overall. However, Nvidia’s stock fell more than 3%, suggesting concerns about its dominance in the AI chip market.
Investors are also wary of the valuation of tech stocks. Despite recent gains, the S&P 500 and Nasdaq remain down over 1% and 3%, respectively, for November, while the Dow has lost more than 1% this month. The broader market’s performance indicates ongoing scrutiny regarding tech valuations amid changing economic expectations.
Money
Gold prices surge as Central Banks buy big, but risks grow ahead
Gold prices surge as central banks increase demand; risks include a stronger dollar and rising interest rates.
Gold prices surge as central banks increase demand; risks include a stronger dollar and rising interest rates.
Gold prices are climbing fast as central banks ramp up buying, pushing demand to its highest levels in years. The metal’s reputation as a safe haven is strengthening, especially amid rising geopolitical tensions and global financial uncertainty.
But experts warn the shine could fade. A stronger US dollar and the possibility of rising interest rates may weigh on momentum, making investors question how long the rally can last.
Dr Steven Enticott from CIA Tax breaks down the drivers behind gold’s surge—from ETF inflows to physical bar demand—and what could send the price sharply higher… or lower.
Subscribe to never miss an episode of Ticker – https://www.youtube.com/@weareticker
#gold #markets #centralbanks #economy #finance #investing #interestRates #usdollar
-
Leaders2 days agoH2Pro focuses on affordable green hydrogen
-
Leaders2 days ago
CarbonBlue revolutionises carbon capture and lime production
-
Shows3 days ago
Brisbane’s economic growth and innovation drive 2032 goals
-
Leaders1 day ago
Yosef Farm showcases successful organic farming in the desert
-
Shows3 days ago
Fusion of East and West: A recipe for success
-
Leaders1 day ago
HomeBiogas transforms waste into clean energy in 30,000 homes
-
Shows3 days ago
Victoria’s new granny flat rules spark a modular housing boom
-
News3 days ago
China naval activity raises tensions from Philippines to Galápagos
