Jet Fuel Crisis Worse Than Covid for Airlines, AirAsia Chief Says, as 13,000 Flights Are Cut
Airlines cut 13,000 flights and nearly two million seats from May schedules as jet fuel prices
Live Nation’s Ticket Boom Runs Into A $450 Million Ticketmaster Legal Hit
Thameslink will suspend all trains between Bedford and Mill Hill Broadway on May 9-10 for engineering work. East Midlands Railway services to London St Pancras will terminate at Bedford. The closure follows
3I/ATLAS Just Gave Scientists a Rare Look Inside an Interstellar Comet
Subaru Telescope data show interstellar comet 3I/ATLAS changed chemistry after its closest approach to the Sun, with a lower carbon dioxide-to-water ratio
Qatar Airways’ Uzbek Hiring Push: Why a 1,600-Specialist Plan Matters Now
Qatar Airways will recruit 65 workers from Uzbekistan in May and June for roles including flight attendants and engineers, Uzbek state media
British Airways Removes Club Europe Headrest Covers: Business Class Backlash Builds
British Airways removed fabric headrest covers from its Club Europe short-haul business-class cabins on May 6, citing operational and sustainability reasons. The
Vivo X300 Ultra Launch: ₹1.6 Lakh ZEISS Camera Phone Takes On iPhone, Samsung In India
Vivo launched the X300 Ultra in India at ₹1,59,999, featuring ZEISS-branded cameras and a Snapdragon 8 Gen 5 chip, with sales starting
Jack Purcell Meats Collapse: Iconic Brisbane Butcher Shuts After 83 Years as Liquidation Hits Family Food Sector
Jack Purcell Meats, a Brisbane butcher founded in 1943, has entered liquidation after a Supreme Court petition over unpaid debt. Alan Walker of Asset Restructuring Group was appointed liquidator on April 30. The closure follows rising rates and costs, and comes weeks after seafood operator A. Raptis & Sons also collapsed.
XRP Price Holds $1.42 as Ripple-JPMorgan Treasury Pilot Puts $1.50 in Play
XRP hovered near $1.42 Wednesday, up 0.44% in 24 hours, as traders watched for a breakout and reacted to Ondo Finance’s cross-border
Bayer Bets $2.45 Billion on Perfuse Eye Drug as Eylea Pressure Builds
Bayer AG will acquire Perfuse Therapeutics Inc. for up to $2.45 billion, including $300 million upfront and the rest tied to milestones.
Discover Airlines Adds Meal Preorders As Lufthansa Leisure Arm Opens Frankfurt–Shannon Route
Discover Airlines has launched pre-order meal options for passengers, starting with long-haul Business Class flights from Frankfurt and Munich, and Economy on
Why IonQ Stock Is Back in the Quantum Spotlight After a 755% Sales Surge
Colossal Biosciences says its three gene-edited wolves, modeled on the extinct dire wolf, are healthy and ready to breed. Outside scientists dispute
Shell Stock Faces A Tougher Test As Erste Downgrade Lands Before Q1 Results
Shell shares fell 3.2% in New York after Erste Group downgraded the stock to “hold,” citing doubts over profit sustainability ahead of first-quarter results. Amsterdam-listed shares dropped 5% over 30 days. Shell faces ongoing disruption at its Pearl GTL plant in Qatar, expected to take a year to repair. The company agreed to buy ARC Resources for $13.6 billion to expand its gas reserves.
Volkswagen’s Four-Plant Shock: Blume’s €30 Billion Cut Puts VW Overhaul on a Harder Track
Volkswagen CEO Oliver Blume is considering closing four plants and slashing investment by about 30 billion euros, Manager Magazin reported Wednesday. Weak output at German sites, a low first-quarter margin, and tariffs costing 5 billion euros a year have intensified cost pressures. VW is also weighing defense-sector use for some sites and China-linked production in Europe.
Virgin Atlantic Just Cut Dubai Winter Flights as South Africa Gets the Lift
Virgin Atlantic will suspend its London Heathrow-Dubai flights for winter 2026, removing the route from its schedule between October 26, 2026, and March 27, 2027. Bookings will be updated May 9, with refunds available under Virgin’s policy. The airline will add capacity to South Africa and also suspend its Heathrow-Seattle route for the season. Emirates will continue 42 weekly Heathrow-Dubai flights.
Airfare Shock Deepens As Jet Fuel Crisis Cuts Two Million Seats Before Summer
Airlines have cut about 13,000 flights worldwide for May, removing two million seats as jet fuel prices surge following the Iran conflict and Strait of Hormuz closure. Lufthansa slashed 20,000 short-haul flights, and fares have jumped, with average U.S. international tickets up 16% from last year. U.S. airlines spent $5 billion on jet fuel in March, up 56% from February. UK carriers face added pressure due to limited fuel supplies.
Airbus A220 Nears 150-Jet AirAsia Order in Breakthrough for Canada-Made Jet
Airbus plans to announce an order for about 150 A220 jets from AirAsia at its Mirabel facility near Montreal on Wednesday, according to Reuters sources. The deal would be the largest for the A220 and comes as Airbus pushes to increase production. Canadian Prime Minister Mark Carney is expected to attend the event. Quebec holds a minority stake in the A220 program.
Why Rheinmetall Stock’s Rebound Suddenly Matters as BioNTech Cuts Up to 1,860 Jobs
BioNTech plans to close sites in Germany and Singapore, affecting up to 1,860 jobs, after reporting a €531.9 million quarterly loss. Rheinmetall’s first-quarter revenue rose 7.7% to €1.938 billion, missing expectations, but shares held steady as the company cited timing issues. The DAX closed up 2.12% at 24,918.69 on Wednesday. Hensoldt posted a 25% revenue increase and a record order book.
Cognizant Layoffs: 15,000 Jobs May Be at Risk as Project Leap Puts India Workforce in Focus
Cognizant may cut 12,000 to 15,000 jobs globally under Project Leap, with most layoffs likely in India, according to multiple Indian news outlets citing internal estimates. The company has set aside up to $270 million for severance and personnel costs, but has not confirmed numbers. Cognizant employs over 250,000 people in India out of 357,600 worldwide. Project Leap aims to shift the company toward a leaner, AI-driven model.
Australia Stock Market Today: ASX 200 Jumps as Banks and Miners Power a Rebound
Australian shares surged Wednesday, with the S&P/ASX 200 closing up 1.3% at 8,793, its best session in nearly a month, led by gains in banks and miners. The rally followed a Reserve Bank rate hike and was fueled by falling oil prices after signs of a possible U.S.-Iran deal. Commonwealth Bank rose 2.96%, BHP gained 3.05%. DigiCo Infrastructure shares jumped over 25% after announcing a $750 million asset sale.
UK Stock Market Today: Why FTSE 100 Jumped as Iran Deal Hopes Knocked Oil Lower
The FTSE 100 closed up 2.15% at 10,438.66 as hopes for a U.S.-Iran deal lifted banks, miners, and travel stocks. The FTSE 250 hit a two-week high, while energy shares fell with oil prices. UK gilt yields dropped, and markets trimmed Bank of England rate hike bets. Diageo and Next shares gained after upbeat sales reports.
ITA Airways Fares Could Rise 10% as Fuel Shock Tests Lufthansa’s Italy Bet
ITA Airways will raise fares by 5% to 10% this year but will not cut flights, CEO Joerg Eberhart said Wednesday. The airline has hedged about 80% of its 2026 fuel needs as jet fuel prices remain high. Lufthansa’s pending ownership decision and suspended Middle East routes remain key variables for ITA’s outlook.
Gold Price Today: Why Silver Suddenly Jumped ₹7,700 And Gold Touched ₹1.52 Lakh
MCX July silver futures surged to ₹2,52,000 per kg and June gold futures hit ₹1,52,182 per 10 grams on Wednesday, with spot prices also jumping. IBJA reported 999-purity gold at ₹150,860 per 10 grams and silver at ₹249,067 per kg, both up from Tuesday. The moves tracked global bullion gains as the dollar weakened and oil prices fell. The rupee posted its strongest single-day rise in a month.
Aldi And Lidl Store Expansion Loophole Faces UK Crackdown As Rivals Push CMA
Sainsbury’s, Morrisons, and Iceland are urging the UK’s competition regulator to bring Aldi and Lidl under land rules that restrict large supermarkets from blocking rivals’ store openings, according to the Financial Times. The Competition and Markets Authority is reviewing whether Aldi and Lidl should be designated as “Large Grocery Retailers,” with provisional decisions expected in July.
PNB Q4 Profit Rises 14%, Dividend Declared: Why Its Rs 2 Lakh Crore Digital Push Matters Now
Punjab National Bank’s Q4 FY26 net profit rose 14.4% to Rs 5,225 crore, but net interest income fell 3.5% to Rs 10,380 crore. The board recommended a Rs 3-per-share dividend. Gross non-performing assets dropped to 2.95% from 3.19% last quarter. PNB shares closed at Rs 110.18, up 2.12% after the results.
Former WH Smith Stores Face 150-Branch Closure Threat as TG Jones Fights for Survival
TGJones, formerly WH Smith’s high-street chain, began a formal restructuring backed by over £35 million from Modella Capital. Up to 150 stores could close, with eight shutting immediately, according to the Guardian. The company cited weak consumer spending, rising costs, and the loss of the WH Smith brand. The plan requires creditor and court approval.
Sandisk Stock’s $4,000 Bull Case Runs Into A $200 Billion Reality Check
Sandisk’s market value surged past $200 billion as shares hit $1,507 Wednesday, driven by soaring AI-related demand for flash memory. Fiscal Q3 revenue jumped 97% from the prior quarter to $5.95 billion, with datacenter sales up 233% sequentially. The company signed five long-term supply deals, three worth at least $42 billion each. Sandisk forecasts Q4 revenue of $7.75–$8.25 billion and adjusted earnings of $30–$33 a share.
Bajaj Auto Q4 Results: ₹5,633 Crore Buyback, ₹150 Dividend And Profit Beat Put Stock In Focus
Bajaj Auto reported a 34% rise in March-quarter standalone profit to ₹2,746 crore, surpassing estimates. The board approved a ₹5,633 crore share buyback at ₹12,000 per share and recommended a ₹150 final dividend. Quarterly revenue grew 32% to ₹16,006 crore, with volumes up 24% year-on-year to 13,71,058 units. EBITDA margin improved to 20.8% from 20.2% a year earlier.
Why Sensex Jumped 941 Points Today As Nifty Topped 24,300
The Sensex jumped 940.73 points to 77,958.52 and the Nifty closed above 24,300 on Wednesday, marking their biggest gain in nearly three weeks after Brent crude prices fell sharply. Banks led the advance, with HDFC Bank up 3.1% and InterGlobe Aviation rising 6.65%. The rupee rose 0.7% to 94.61 per dollar. India’s cabinet approved a 181 billion rupee emergency credit guarantee for firms hit by Middle East disruptions.
Qualcomm Stock Is Back Near $200. The AI Chip Bet Behind QCOM’s Sudden Rally
Qualcomm shares jumped about 5% Wednesday, trading near $200 after strong demand for AI and automotive chips. Fiscal Q2 revenue reached $10.6 billion, with automotive chip sales up 38% to $1.3 billion. The company announced a new $20 billion share buyback. CEO Cristiano Amon said a custom silicon project with a major cloud provider will ship later this year.
Ferrari Stock Falls After Strong Q1 as Luce EV, U.S. Tariffs Test 2026 Outlook
Ferrari shares fell 4% Tuesday after first-quarter results, despite the company maintaining its 2026 financial targets. Net revenue rose 3% to 1.85 billion euros, while net profit was flat at 413 million euros and deliveries dropped to 3,436 cars. The company cited planned model shifts and warned of U.S. tariff and currency risks. CEO Benedetto Vigna said the order book now extends toward late 2027.
Nvidia’s $500 Million Corning Deal Shows AI’s Next Bottleneck Is Fiber, Not Chips
Nvidia and Corning will build three optical manufacturing plants in North Carolina and Texas, aiming to boost U.S. fiber output by over 50% and optical connectivity capacity tenfold. Corning sold Nvidia $500 million in warrants tied to up to 18 million shares. Corning expects to add more than 3,000 jobs. Corning shares rose nearly 18% in premarket trading.
Disney Earnings Beat: Disney Stock Jumps as Josh D’Amaro Puts Disney+ and Parks at the Center
Disney reported quarterly adjusted earnings of $1.57 per share on $25.2 billion revenue, beating analyst estimates and sending shares up over 4% premarket. Streaming operating income jumped 88% to $582 million, while park revenue rose 7% to $9.49 billion. Net income fell to $2.25 billion from $3.28 billion due to a prior tax benefit. ESPN operating income dropped 5% amid higher costs.
Siemens Stock Jumps as UBS Buy Call Puts One-Week Earnings Test in Focus
Siemens shares rose 3.65% to 270.00 euros in Frankfurt on Wednesday, narrowing the gap to their 52-week high. The move came ahead of Siemens’ fiscal second-quarter results due May 13. UBS maintained a “Buy” rating but set a 255-euro target, below the current price. The DAX index also gained, trading up 2.66% at 25,050.16.
Nationwide £100 Payout: Halifax Loses 25,629 Customers as UK Bank Switching Jumps 43%
Nationwide gained a net 64,527 current-account customers in the final quarter of 2025, the largest increase among UK banks, while Halifax lost 25,629, according to Pay.UK data. Total account switches rose 43% year-on-year to 319,529 as households sought better rates and perks. Barclays and Lloyds also reported net gains. Nationwide’s growth followed cash offers and a £100 member payout.
Oil Below $100 as Trump’s Hormuz Pause Puts Iran Deal Back in Play
Brent crude dropped below $100 a barrel, falling over 9%, after reports that the U.S. and Iran were nearing a preliminary peace deal and President Trump paused a naval operation in the Strait of Hormuz. Iran’s Revolutionary Guards said safe transit could resume under new protocols, though details remain unclear. Global stocks rallied, but shipping risks persisted following an attack on a CMA CGM vessel in the strait.
Samsung Hits $1 Trillion Market Cap as AI Chips Boom—and Galaxy Profits Feel the Squeeze
Samsung Electronics’ market value topped $1 trillion on Wednesday as shares surged 14.4% on strong AI chip demand, pushing Seoul’s KOSPI index above 7,000 for the first time. Samsung reported record first-quarter revenue of 133.9 trillion won and operating profit of 57.2 trillion won, driven by its chip division. Foreign investors bought a record 3.1 trillion won of Korean shares.