All posts tagged: business

Major airline closing down forever in June – in business since 1980 | World | News

Major airline closing down forever in June – in business since 1980 | World | News

Published by Sam Flores

A major European airline has started to proceedings to shut down this month. Finnish airline Jetline, founded in Helsinki back in 1980, started employee consultation proceedings on June 8. According to reports, it will let fo of 53 members of staff across its flight operations. After the news of its closure was confirmed, the company issued a statement. It read: “The negotiations concern the planned discontinuation of the above-mentioned businesses and the potential termination of employment of the associated personnel. “The decisions under consideration are driven by the prolonged unprofitable performance of these businesses.” Jetflite currently operates a 2000-built, 18-seat Challenger 604, a Challenger 650 manufactured in 2020 and configured for up to 12 passengers, and a 2014-produced Falcon 7X featuring a cabin layout for up to 16 passengers. Its planes are based out of Helsinki-Vantaa. The Wihuri Group was founded in 1901 and employs over 5,000 people across its various businesses. The jet fuel shortage sparked by the war in the Middle East has plunged the aviation industry into jeopardy in recent months. A …

Taylor Swift secures seventh UK number one single with Toy Story 5 song

Taylor Swift secures seventh UK number one single with Toy Story 5 song

Published by Daniella Wilson

Get the inside track from Roisin O’Connor with our free weekly music newsletter Now Hear This Get our free music newsletter Now Hear This Get our free music newsletter Now Hear This Taylor Swift has secured her seventh UK number one single with “I Knew It, I Knew You,” a track featured in the upcoming Toy Story 5 film. The song, co-written by Swift for the movie’s official soundtrack, is set to be released on June 19. This latest chart-topper sees Swift join an elite group of artists, including Michael Jackson, George Michael, and U2, all of whom boast seven UK number one singles. “I Knew It, I Knew You” is said to evoke her country roots, having been penned and produced by Swift alongside Bleachers frontman Jack Antonoff. Her previous chart successes include “Look What You Made Me Do” (2017), “Anti-Hero” (2022), “Is It Over Now? (Taylor’s Version)” (2023), “Fortnight” (2024), “The Fate Of Ophelia” (2025), and “Opalite” (2025). Meanwhile, Niall Horan is celebrating a hat-trick of number one albums, achieving the biggest opening …

US and Iran Have Agreed to Wording of a Deal to End Their War, Pakistan’s Prime Minister Says

US and Iran Have Agreed to Wording of a Deal to End Their War, Pakistan’s Prime Minister Says

Published by Sam Flores

ISLAMABAD (AP) — Pakistan’s prime minister said Friday the United States and Iran have agreed to wording of an agreement aimed at ending their war in the Middle East and that mediators were working with both sides to finalize a deal. Prime Minister Shehbaz Sharif said the U.S. and Iran have reached a “final, agreed upon text.” He said Pakistan, which has taken the lead in mediation efforts, was working with the warring countries on next steps. “Peace has never been this close as it is now,” Sharif said in a post on X. The apparent breakthrough in negotiations comes after Iran exchanged fire with the U.S. and Israel over three days this week, threatening to return the Middle East to full-scale war. Iranian Foreign Minister Abbas Araghchi said Friday an agreement “has never been closer” in a post on X. U.S. President Donald Trump, who has said multiple times in recent weeks the countries are on the cusp of a deal, shared Araghchi’s post on his own social media. The war launched by the …

Díaz-Canel Announces Economic Reforms to Attract Investment and Involve Cubans Abroad

Díaz-Canel Announces Economic Reforms to Attract Investment and Involve Cubans Abroad

Published by Sam Flores

HAVANA (AP) — Cuban President Miguel Díaz-Canel on Friday announced a package of economic reforms aimed at attracting investment, expanding participation by Cubans living abroad in the economy and decentralizing parts of the country’s administration. The president did not provide details about the measures or a timetable for their implementation but said during remarks to state media that it is now “time to change” and that the country “simply cannot continue on its current course.” “Every opportunity in the midst of a crisis must be seized as a moment for takeoff, as a moment for growth,” Díaz-Canel said, according to a statement from the presidency that was republished by state-run media. “We have established a group of priorities to confront this situation,” he added without offering specifics. The announcement comes as Cubans have struggled with fuel shortages as a result of the U.S. oil blockade and food insecurity. In January, the United States tightened restrictions on Cuba’s oil supplies in an effort to pressure the island’s government to change its political and economic model, exacerbating …

This 37-Year-Old CEO Is on a Mission to Make Red Lobster Cool. Yes, You Read That Right.

This 37-Year-Old CEO Is on a Mission to Make Red Lobster Cool. Yes, You Read That Right.

Published by Sam Flores

For decades, Red Lobster wasn’t just a restaurant. It was the restaurant—where you took Grandma and the kids after Sunday service, where first dates became proposals and promotions became parties, one of the few national chains that never made Black America feel like an afterthought. So when it filed for bankruptcy in 2024, closing around 130 of its nearly 650 locations, it wasn’t just a financial blip. It was a gut punch. Enter Damola Adamolekun. Thirty-seven, Nigerian-born, Harvard Business School alum, the youngest CEO ever in Red Lobster’s history—and the guy who walked into all that mess in October 2024, and basically said, watch this. Whether he’s actually pulling it off is a whole other conversation entirely. To understand why that matters, you have to understand what Red Lobster actually meant. Chris Rock and Nicki Minaj worked there before they made it. Minaj later joked with Jimmy Fallon on The Tonight Show that she’d been fired from multiple Red Lobster locations. When Beyoncé name-dropped it in her 2016 “Formation,” a song layered with references to …

SpaceX Stock Soars in Debut and Makes Elon Musk the First Trillionaire

SpaceX Stock Soars in Debut and Makes Elon Musk the First Trillionaire

Published by Sam Flores

NEW YORK (AP) — Elon Musk became the world’s first trillionaire after shares of his rocket company SpaceX soared in Wall Street’s biggest initial public offering of stock. Shares in SpaceX jumped more than 19% after opening for trading Friday, a sign that investors are looking past the billions the company is losing and instead betting that its massive investments in satellites, orbital data centers and artificial intelligence will pay off in the future. SpaceX opened around midday at $150 a share, then rose to around $168, before finishing the day just below $161. That price gave the company a market value of $2.1 trillion, making it the sixth largest public U.S. company — larger even than its founder and CEO’s other big business, the electric vehicle maker Tesla. Between his holdings in SpaceX and Tesla, where he is also CEO, Musk is now worth an estimated $1.1 trillion, according to Forbes. Why SpaceX is going public now Musk says SpaceX, founded in 2002, is going public now because it needs money to fund its …

Gold is now the top reserve asset. Is dollar dominance at risk? | Business and Economy

Gold is now the top reserve asset. Is dollar dominance at risk? | Business and Economy

Published by Sam Flores

Gold now accounts for 27 percent of global reserve holdings, overtaking US Treasuries as the world’s largest reserve asset. For decades, United States assets were the world’s ultimate safe haven.Now, central banks are buying gold at a record pace.China is pushing to expand the yuan’s role in the global financial system.And BRICS nations are trying to reduce their dependence on the dollar.The Iran conflict, the US’s rising debt burden and uncertainty about President Donald Trump’s tariffs are all taking their toll.Yet the greenback still dominates global trade, finance and foreign exchange.The world is not abandoning the dollar just yet – but the search for alternatives is accelerating. Published On 11 Jun 202611 Jun 2026 Click here to share on social media share-nodes Share googleAdd Al Jazeera on Googleinfo Source link

US Jobless Aid Filings Rise to 229,000 Last Week, Remain Historically Low Despite Iran War Headwinds

US Jobless Aid Filings Rise to 229,000 Last Week, Remain Historically Low Despite Iran War Headwinds

Published by Sam Flores

WASHINGTON (AP) — U.S. applications for jobless aid rose modestly last week, but remain at a historically low level despite economic headwinds brought on by the war in Iran. The number of Americans filing for unemployment aid for the week ending June 6 rose by 4,000 to 229,000, the Labor Department reported Thursday. That’s the most since early February, before the U.S. and Israel launched attacks on Iran, but still considered a healthy level. It’s also more than the 216,000 new applications forecast by analysts surveyed by the data firm FactSet. Weekly filings for unemployment benefits are considered a proxy for U.S. layoffs and are close to a real-time indicator of the health of the job market. Despite concerns that the conflict in the Middle East could further squeeze a flagging labor market, hiring has picked up in recent months following a miserable 2025 that saw fewer than 200,000 job gains. For comparison, about 1.5 million jobs were added in 2024. U.S. employers delivered a surprising 172,000 new jobs in May and the economy is …

White House targeted Mukesh Ambani. Then, he went into business with the Trumps

White House targeted Mukesh Ambani. Then, he went into business with the Trumps

Published by Sam Flores

In late November in Jamnagar, India, the scions of two of the most powerful families in the world stood face-to-face. On one side was 30-year-old Anant Ambani, son of one the richest men in Asia. On the other was Donald Trump Jr. For months, the Trump administration had been on the offensive against the sprawling Ambani energy empire, placing it at the center of an escalating tariff campaign against India. But after Trump Jr. touched down, the two men toured the Ambanis’ private zoo, and at night they performed a Gujarati folk dance, grinning as they moved together to the music. Four months later, an obscure Texas startup called America First Refining announced that it had received a nine-figure investment from the Ambanis’ company. The deal puzzled numerous energy investors familiar with the project, which aims to build the first major new oil refinery in the U.S. in about 50 years. The company is run by a serial entrepreneur with a history of bankruptcy and lawsuits alleging fraud. After more than a decade of failed …

G7 Summit at Swiss-French Border Brings Tight Security in Case Violent Protests Occur

G7 Summit at Swiss-French Border Brings Tight Security in Case Violent Protests Occur

Published by Sam Flores

GENEVA (AP) — French and Swiss authorities will impose a week of pandemic-like border restrictions as U.S. President Donald Trump and other leaders attend a G7 summit starting Monday while organizers fear potentially violent protests. The summit of some of the world’s richest nations from June 15-17 in the French town of Evian-les-Bains on Lake Geneva is meant to discuss the Middle East, Ukraine and global economic imbalances. In nearby Geneva, Switzerland, business owners and local leaders want to avoid a repeat of violent protests that smashed storefronts on the sidelines of the G8 summit in 2003, when Russia was in the club of nations. Authorities in Geneva and activist groups including environmentalists, feminists and foes of capitalism are facing off over the right to protest and the right to protection from those who target symbols of corporate and political power. “As the G7 meets in Evian, France, to plan the destruction of peoples, the exploitation of life and the domination of bodies, let us organize our resistance against fascism and imperialism,” the No G7 …