07 Oct 2025

Spirit Airlines plans to reduce its fleet by nearly 100 aircraft-almost half of its 214-plane lineup-as part of a major bankruptcy restructuring, CFO Fred Cromer told creditors on Friday. The carrier, which filed for Chapter 11 protection for the second time this year, is cutting unprofitable routes and operations to stabilise its finances. Spirit has sought court approval to reject 87 additional aircraft leases, while continuing talks with lessors ahead of an October 27 deadline. Cromer said the move could save "hundreds of millions of dollars" and create a leaner, stronger airline. The low-cost carrier blames industry overcapacity, weak demand, and fare pressure for its financial distress.Read more

06 Oct 2025

QatarEnergy has signed an agreement with Shell to acquire a 27% stake in the North Cleopatra offshore block in Egypt's Herodotus basin, further expanding its global exploration portfolio. The deal, pending approval from Egyptian authorities, will see Shell retain a 36% interest as operator, while Chevron holds 27% and Tharwa Petroleum Company 10%. The block spans over 3,400 sq km in the eastern Mediterranean, with water depths reaching up to 2,600 metres. The acquisition adds to QatarEnergy's growing presence in key international oil and gas regions, including recent ventures in Guyana, Lebanon, Namibia, and South Africa, reinforcing its global expansion strategy.Read more

06 Oct 2025

Rescue operations are underway on Tibet's eastern slope of Mount Everest, where nearly 1,000 people have been stranded after a severe blizzard blocked mountain access roads, according to Chinese state media. Hundreds of villagers and rescue teams have been mobilised to clear snow from the high-altitude area, which lies at over 4,900 metres (16,000 feet), Jimu News reported. Some tourists have already been evacuated, while ticket sales and entry to the Everest Scenic Area have been suspended since Saturday. The heavy snowfall began Friday evening and persisted through Saturday. Meanwhile, across the border in Nepal, at least 47 people have died due to flash floods and heavy rains.Read more

06 Oct 2025

Boeing's long-delayed 777X jet is now expected to begin deliveries in early 2027 instead of next year, Bloomberg reported, citing sources familiar with the matter. Launch customer Deutsche Lufthansa AG has already excluded the aircraft from its fleet plans until that time. The setback comes as Boeing continues to struggle with certification, though CEO Kelly Ortberg recently said no new technical issues had emerged, only that a "mountain of work" remained. Analysts expect Boeing to take a $1-4 billion charge in its upcoming Q3 earnings, adding to the $10 billion already written off on the program. The 777X, originally planned for 2020 delivery, will now be at least seven years late, with RBC Capital Markets forecasting deliveries beginning in the second half of 2027.Read more

06 Oct 2025

Czech billionaire Daniel Kretinsky has agreed to sell his 20% stake in Thyssenkrupp's steel unit (TKSE) and abandon plans for a joint venture, clearing the way for talks with India's Jindal Steel International, which recently made an indicative bid for the entire business. Kretinsky's EP Group will be reimbursed for the ~EUR 140 million it paid for the stake last year. Thyssenkrupp has long sought to divest TKSE, which faces mounting challenges from cheap Chinese imports, high energy costs, and delays in hydrogen-based decarbonisation. The decision ends stalled negotiations over a German-Czech steel tie-up and boosts momentum toward a possible sale to Jindal.Read more

05 Oct 2025

China's housing market showed mixed trends in September, with new home prices rising slightly while resale prices continued to fall. Despite traditional buying months and multiple government support measures, the sector remains fragile. Defaults by developers have left a significant inventory of unsold and unfinished homes. Analysts suggest the market may not stabilize until 2026 or 2027, as weak incomes, unemployment concerns, and high secondary-market listings dampen demand. Reduced household wealth has limited spending, while declining business confidence further challenges the job market and economic recovery.Read more

05 Oct 2025

Florida has approved donating a 2.63-acre property near downtown Miami for the Donald J. Trump Presidential Library. Valued at INR 5.5 billion (USD 66 million) but potentially worth USD 360 million, the site is currently a Miami Dade College parking lot next to the historic Freedom Tower. Governor DeSantis emphasized the benefits for Miami and Florida, while Eric Trump described the library as a lasting tribute to his father's legacy. Presidential libraries preserve historical records, often feature museum exhibitions, and are generally located in a president's home state.Read more

05 Oct 2025

The UAE housing market is shifting from being driven mainly by location and price to lifestyle-oriented features. According to Property Finder data from 2024-25, residents now prioritise amenities that blend comfort, convenience, and exclusivity. Balconies, maids' rooms, central air conditioning, and covered parking rank among must-haves, while shared gyms, pools, and pet-friendly policies reflect community-focused living. Buyers lean toward premium features like private pools, waterfront views, and gardens, whereas renters prefer practical conveniences. This divide underscores the challenge for developers: catering to both long-term buyers and short-term renters. Projects aligned with these evolving lifestyle preferences are set to lead the UAE property market.Read more

05 Oct 2025

German retail sales fell by 0.2% in August, driven by a 2.0% drop in online and mail-order purchases and a 1.0% decline in non-food retail. Analysts had expected growth, but a revised 0.5% fall in July reflects a continued cooling in consumer activity. Thomas Gitzel, chief economist at VP Bank, attributed the slowdown to cautious household spending amid economic uncertainty. Despite monthly declines, retail sales were up 1.8% year-on-year, showing that overall consumer demand remains steady, though short-term confidence and spending patterns are influenced by caution and concerns about the broader economic situation.Read more

05 Oct 2025

Typhoon Bualoi caused significant damage in northern central Vietnam, with property losses estimated at USD 303 million. Nearly 170,000 homes were affected, while roads, schools, and offices suffered damage. Tens of thousands of households faced power outages, and over 34,000 hectares of crops were destroyed. Industrial facilities largely avoided major harm, though some large factories were in the storm's path. The typhoon disrupted transport services and school operations in Hanoi. Vietnam's coastline remains highly vulnerable to typhoons, with previous storms causing severe losses and fatalities.Read more