Money
Travel hopes dashed – BA announces thousands of flight cancellations
British Airways cancels thousands of flights through the month of July
Britain’s biggest airline told airport slot authorities that it was cancelling more than 650 flights from Heathrow and Gatwick in a bid to avoid repeating last month’s overcrowding and chaos, according to The Telegraph.
“As the entire aviation industry continues to face into the most challenging period in its history, regrettably it has become necessary to make some further reductions.”
BRITISH AIRWAYS SPOKESPERSON
Airlines and airports across Britain are dealing with a staffing crunch.
Layoffs and redundancies made during the pandemic have come back to bite air operators as demand for air travel surges.
On Monday, EasyJet’s Chief Operations Officer, Peter Bellew, resigned from his post amid thousands of cancellations in June.
An EasyJet spokesperson said that Mr Bellew had “resigned to pursue other business opportunities”.
On Sunday, footage emerged of an EasyJet flight being escorted by a Spanish Air Force jet.
Spanish authorities said it was in response to a bomb threat, which later turned out to be a hoax.
The EasyJet flight from London Gatwick to Menorca landed without incident.
Passengers were screened one by one and bomb disposal experts checked all luggage.
Spanish authorities said an 18-year-old British man had posted the bomb threat to his social media page and was detained.
An EasyJet spokesperson thanked passengers for their understanding but did not go into further details.
Money
Markets edge higher as 10-year yields hit new highs
Major stock indices rise slightly; 10-year Treasury yield hits 4.23% amid Fed Chair speculation, affecting small and mega-cap stocks.
Major stock indices rise slightly; 10-year Treasury yield hits 4.23% amid Fed Chair speculation, affecting small and mega-cap stocks.
All major stock indices are starting the week slightly higher, giving investors cautious optimism. Analysts are keeping an eye on movements in small caps and mega-cap tech stocks amid these early gains.
The yield on the 10-year Treasury note has climbed to 4.23%, the highest since last September. This follows Kevin Warsh emerging as the frontrunner for the next Federal Reserve Chair, sparking speculation on future monetary policy.
Rising yields could trigger a pullback in small-cap stocks, while investors may pivot toward mega-cap tech, expected to deliver strong earnings growth. Overall, the market is likely to see a neutral to slightly bearish trend next week due to overbought conditions.
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Money
Commodities surge as oil volatility and metals hit record highs
Oil prices fluctuate due to geopolitical tensions; precious metals soar amid inflation concerns, sparking a commodities rally.
Oil prices fluctuate due to geopolitical tensions; precious metals soar amid inflation concerns, sparking a commodities rally.
Global commodities are on the move, with oil prices swinging sharply as geopolitical tensions involving Iran fuel uncertainty across energy markets. Traders are closely watching supply risks and political flashpoints, driving short-term volatility.
Precious metals are stealing the spotlight, pushing to record highs as investors seek safety amid inflation concerns, interest-rate uncertainty and rising global risk. At the same time, industrial metals are surging, supported by demand expectations and tightening supply.
To unpack what this means for markets and investors, we’re joined by Kyle Rodda from Capital.com to break down the key drivers behind this powerful commodities rally.
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Money
Stocks slide and Trump cancels talks: What’s next for markets and Greenland?
U.S. stocks dip; S&P 500 down 0.9%, as investors react to weak bank earnings and market volatility.
U.S. stocks dip; S&P 500 down 0.9%, as investors react to weak bank earnings and market volatility.
U.S. stocks fell for a second day on Wednesday, with the S&P 500 dropping 0.9% and the Dow Jones losing 164 points. Investors are reassessing record-high levels as major banks report weaker-than-expected earnings.
Wells Fargo shares tumbled more than 5% after disappointing revenue results, while Bank of America is down roughly 7% week to date. Citigroup and Wells Fargo have both seen declines of about 8%, highlighting volatility in the banking sector.
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