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☆ A group of passengers flying from Paris to New York skipped passport control and customs due to a 'disembarkation issue'
▼ + stars: | 2023-04-07 | by ( Bianca Giacobone | ) www.businessinsider.com time to read: +2 min

Passengers on an April 4 flight from Paris to New York left the airport with no immigration check. The incident involved a Norse Atlantic Airways flight that landed at John F. Kennedy International Airport. "We are investigating a disembarkation issue that took place on arrival at New York JFK on Tuesday evening concerning a Norse Atlantic Airways flight from Paris," the statement said. The low-cost carrier is fairly new to the transatlantic flight scene. Norse's New York to Paris route, which was inaugurated on March 26, has one-way flights starting at 269 Euros, or around $300.

☆ King Charles backs research into monarchy's slave links
▼ + stars: | 2023-04-06 | by ( Michael Holden | ) www.reuters.com time to read: +2 min

[1/3] Britain's King Charles III arrives on a boat for a trip at the port in Hamburg, Germany, Friday, March 31, 2023. Matthias Schrader/Pool via REUTERSLONDON, April 6 (Reuters) - King Charles has given his support to research that will examine the British monarchy's links to slavery, Buckingham Palace said on Thursday, after a newspaper report said a document showed a historical connection with a transatlantic slave trader. The issue of the British Empire's slavery links and calls for possible reparations from the monarchy has been growing in the Caribbean where Charles remains head of state of a number of countries including Jamaica and the Bahamas. That process had continued with "vigour and determination" since Charles succeeded his mother on the throne last September, it said. "Given the complexities of the issues it is important to explore them as thoroughly as possible," the Palace statement said.

☆ Transatlantic flights see revenue growth despite cost headwinds, says Citigroup's Stephen Trent
▼ + stars: | 2023-04-06 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTransatlantic flights see revenue growth despite cost headwinds, says Citigroup's Stephen TrentStephen Trent, Citigroup airline analyst and managing director, joins 'Closing Bell Overtime' to discuss airlines rising oil prices hurting airline stocks, economic downturns impacting airline sales, and two names in the airline business to look out for.

☆ Europe's relationship with China reaches critical juncture after Xi-Putin meeting
▼ + stars: | 2023-04-05 | by ( Silvia Amaro | ) www.cnbc.com time to read: +1 min

European officials are traveling to China in the hope of persuading Beijing to denounce Russia's invasion of Ukraine and cool its recent kinship with the Kremlin. The 27-member bloc walks a tightrope, looking to develop economic ties with China but also reaffirming a close political and cultural relationship with the United States. Spain's Prime Minister Pedro Sanchez met China's President Xi Jinping last week. Europe's top foreign affairs diplomat, Josep Borrell, is heading to China next week. In a visit to Moscow in March, China's leader Xi Jinping referred to his Russian counterpart as a dear friend.

☆ Russia using ship-to-ship diesel transfers for transatlantic exports
▼ + stars: | 2023-04-05 | by ( ) www.reuters.com time to read: +2 min

A full EU embargo on Russian oil products on Feb. 5 has boosted Russian diesel exports to Asia, Africa and the Middle East, with STS loadings in the Mediterranean helping to shorten eastern routes. Last month, Russia sent about 1.0 million tonnes of diesel to African countries, some of which could be re-exported, traders said. Russian supply of diesel to Lomé almost doubled in March to about 200,000 tonnes, Refinitiv data showed. About 30,000 tonnes of Russian diesel has also been transhipping on to the tanker Savanna near the Nigerian port of Lagos, according to Refinitiv. STS transfers near Lomé and Lagos are commonly used for delivering diesel and gasoline, transferring such cargoes from large Aframax and Panamax tankers to vessels able to enter smaller harbours.

☆ Russia says it will beef up military in northwest as Finland joins NATO - RIA
▼ + stars: | 2023-04-03 | by ( ) www.reuters.com time to read: +1 min

April 3 (Reuters) - Russia will strengthen its military capacity in its western and northwestern regions in response to Finland's expected accession to NATO on Tuesday, Russian Deputy Foreign Minister Alexander Grushko said, state-owned news agency RIA reported. Finland and Sweden applied to join NATO last year after Russia invaded Ukraine. Finland has a 1,300-km (810-mile) border with Russia that will roughly double the transatlantic alliance's frontier facing Moscow. Russian Defence Minister Sergei Shoigu said last year that Russia was taking "adequate countermeasures" and would form 12 units and divisions in its western military district. Grushko told RIA: "We will strengthen our military potential in the western and northwestern direction.

☆ Factbox: How U.S. electric vehicle subsidy rules impact Europe
▼ + stars: | 2023-03-30 | by ( ) www.reuters.com time to read: +5 min

MADE IN AMERICA CONDITIONSThe Treasury is not expected to specify vehicle models but merely lay out the subsidy criteria. EU AUTO SECTOR STRENGTHThe European Union exported some 36 billion euros ($39 billion) of cars to the United States in 2022, according to Eurostat, some 65% from Germany, with less than 9 billion euros worth of cars coming the other way. The EU also exported about 9 billion euros of car parts to the United States, compared with 2 billion euros of imports. For example, EU trade officials are wondering whether the local content requirement for battery components means just specific components or all components and how comprehensive final assembly must be. Some in the EU industry express concern that a change of U.S. president could see this lease car concession end.

☆ Factbox: Steps in Finnish, Swedish path to NATO membership
▼ + stars: | 2023-03-30 | by ( ) www.reuters.com time to read: +5 min

Hungary's parliament approved a bill this week to allow Finland to join NATO after Erdogan declared Turkey was ready to approve that bid. Turkey's parliament is expected to follow through on Erdogan's commitment with a vote this week, clearing the way for Finland to join NATO within weeks. Here are the key steps in Finland's and Sweden's path towards NATO membership so far:FINLAND AND SWEDEN SUBMIT MEMBERSHIP REQUESTThe applications, letters signed by the countries' foreign ministers, were formally handed in by Finland's and Sweden's NATO ambassadors on May 18, 2022. FINLAND FORGES AHEADAll NATO countries must ratify a would-be member's application before it can join the alliance. But NATO Secretary-General Jens Stoltenberg has said getting Sweden's application over the line is a top priority.

☆ Kamala Harris wraps up Ghana visit, heads to Tanzania
▼ + stars: | 2023-03-29 | by ( ) www.reuters.com time to read: +1 min

[1/2] U.S. Vice President Kamala Harris meets with women entrepreneurs during her week-long trip to Ghana, Tanzania and Zambia, in Accra, Ghana March 29, 2023. REUTERS/Francis KokorokoACCRA, March 29 (Reuters) - U.S. Vice President Kamala Harris will meet Ghanaian women entrepreneurs on Wednesday to discuss economic empowerment and leadership, her last engagement in Accra before heading to Tanzania to continue her week-long African tour. She is scheduled to leave Ghana after her roundtable with women entrepreneurs and fly to the Tanzanian commercial capital Dar es Salaam, where she will meet President Samia Suluhu Hassan on Thursday and fulfil other engagements. On Friday, she will fly to Zambia, where she will meet President Hakainde Hichilema and participate in other events. Reporting by Francis Kokoroko; Writing by Estelle Shirbon; Editing by William MacleanOur Standards: The Thomson Reuters Trust Principles.

☆ Why Florence has a complicated relationship with the over 15,000 American college students who come every year
▼ + stars: | 2023-03-29 | by ( Bianca Giacobone | ) www.businessinsider.com time to read: +5 min

Over 15,000 US students spend some time studying in Florence, Italy every year. Over 15,000 American students flock to the city every year, according to local newspapers, with estimates of 18,000 for 2023. Back in 2016, it was estimated that American universities bring over 150 million euros to the economy of Tuscany, Florence's region, per year. And, according to plenty of social media complaints and local reports, American students could be more considerate of the city that hosts them. Once, she asked some American students to keep it down a little, and one of them told her to buy some earplugs.

Kyiv and its Western allies fear tactical nuclear weapons could be used in battle after Putin and others warned Russia was prepared to use all its vast arsenal in defence. WHAT ARE TACTICAL NUCLEAR WEAPONS? Academics and arms control negotiators have spent years arguing about how to define tactical nuclear weapons (TNW). The president is the ultimate decision maker when it comes to using Russian nuclear weapons, both strategic and non-strategic, according to Russia's nuclear doctrine. The Treaty on the Non-Proliferation of Nuclear Weapons, signed by the Soviet Union, says that no nuclear power can transfer nuclear weapons or technology to a non-nuclear power, but it does allow for the weapons to be deployed outside its borders but under its control - as with U.S. nuclear weapons in Europe.

Similarly, the U.S. economy and stock markets tend to outperform during booms and draw in overseas investment that lifts demand for dollars. Surely times of great banking and credit stress should boost the greenback? And now we face a bout of severe banking stress alongside stubbornly high inflation that had almost all major central banks raising interest rates again over the past week despite the pretty clear underlying credit stress. JPMorgan's take on the stressed side of the dollar smile last week pointed out that "the underlying macro-financial pathology that necessitates lower yields is the primary determinant of dollar direction". Clearly, the dollar smile is no laughing matter.

Online searches by Americans for flights to Europe trips are surging despite soaring air fares, a worsening economic outlook and risks of gridlock at some of the airports in Europe. The travel boom is promising record profit margins at some U.S. carriers, which are ramping up transatlantic capacity to cash in on Americans' thirst for travel to Europe. Travel website Kayak said searches for travel to Europe this summer are up 77% from last year. There is still untapped travel demand for Europe even after a busy summer last year, said Hayley Berg, lead economist at Hopper. Average fare for a round-trip flight to Europe, meanwhile, has risen 31% from last year, Hopper data shows.

ZURICH/BERLIN/LONDON, March 20 (Reuters) - Urs Kessler, who runs Jungfrau Railways, a train that takes tourists up the highest mountain in Switzerland, was excited for the return of Chinese tourists after COVID-19 restrictions were lifted late last year. Chinese outbound flight bookings to Europe during March and August are only 32% that of pre-pandemic levels, according to travel data firm ForwardKeys. OPTIMISM FOR THE FUTUREMany tourist operators and retailers hope the second half will bring a relaxation in visa policies, more flights and the long-expected influx of Chinese tourists. Harrods launched branded stickers, including its iconic teddy bear, on China's popular WeChat messaging platform this year to attract Chinese tourists. Kessler believes his Lang Lang campaign was still worth it.

☆ Hungary's ruling party to back Finland's NATO accession in March 27 vote
▼ + stars: | 2023-03-17 | by ( ) www.reuters.com time to read: +1 min

BUDAPEST, March 17 (Reuters) - Hungary's legislature will vote on the ratification of Finland's NATO accession on March 27 and the majority ruling party bloc will unanimously support the bid, the leader of the ruling Fidesz party's parliamentary group said on Friday. Mate Kocsis said in a Facebook post that the Fidesz parliamentary group will decide on Sweden's NATO accession "later," without specifying. Sweden and Finland applied last year for membership of the transatlantic military alliance after Russian forces invaded Ukraine. "We will bring forward the parliamentary vote (on Finland's NATO accession) to March 27 and will unanimously vote yes," Kocsis said in his statement. "On the issue of Sweden, the parliamentary group will decide at a later date."

☆ A risk gauge for European banks is surging after SVB collapse: Here are the worst impacted
▼ + stars: | 2023-03-16 | by ( Ganesh Rao | ) www.cnbc.com time to read: +2 min

Risk indicators such as the rates on credit default swaps are rising for the European banking sector following the failure of Silicon Valley Bank last week. CDS — a type of financial derivative — rise in value as the risk of default increases. CDS rates above one percentage point are an extremely rare event seen only during market stress, such as the height of the euro zone debt crisis in 2012. No other European bank had rates above this level. CDS rates were at about 0.6% for Germany's largest lender Deutsche Bank , the second highest currently, which saw a nine basis point jump in CDS rates since the beginning of March.

☆ EU and US green arms race misses bigger picture
▼ + stars: | 2023-03-16 | by ( Rebecca Christie | ) www.reuters.com time to read: +6 min

BRUSSELS, March 16 (Reuters Breakingviews) - The European Union’s pushback on aggressive U.S. green production incentives is taking shape. In pushing back against Washington’s green industrial aid, Europe has a case for deploying trade and state-aid means in the short term to support its green industries. An expensive green arms race with its allies would be the wrong road to go down. The European Union on March 9 announced that it would loosen state aid rules up until 2025 to give member states more scope on green technology subsidies. Other responses to the 2022 U.S. Inflation Reduction Act, which includes $369 billion in green technology subsidies, are in the works.

☆ A climate tech CEO took calls from an airplane bathroom to try and save his company when his bank collapsed
▼ + stars: | 2023-03-16 | by ( Catherine Boudreau | ) www.businessinsider.com time to read: +4 min

Sign up for our newsletter to get the latest on the culture & business of sustainability — delivered weekly to your inbox. Baird, the founder and CEO of BlocPower, a climate-tech company electrifying buildings in underserved communities, had more than $1 million in deposits at SVB. SVB worked with more than 1,550 clients in the climate-tech and sustainability sectors, particularly community solar. Baird said SVB was a great partner for early-stage startups because, unlike many traditional banks, it would provide loans, credit cards, and bank accounts. "People who aren't in Silicon Valley are thinking, 'Look at these rich, immature tech bros who cannibalized their own bank.

☆ Canada trade minister encourages 'intense collaboration' with transatlantic partners on green tech
▼ + stars: | 2023-03-14 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCanada trade minister encourages 'intense collaboration' with transatlantic partners on green techCanada Trade Minister Mary Ng discusses the international race to develop and deploy renewable energy technologies and says she hopes protectionism isn't here to stay when it comes to green subsidies.

☆ Banking turmoil could help euro doves cry victory
▼ + stars: | 2023-03-14 | by ( Francesco Guerrera | ) www.reuters.com time to read: +3 min

That’s the annual growth in euro zone inflation recorded in February, and it sits well above the ECB’s 2% target. The demise of Silicon Valley Bank and Signature Bank (SBNY.O) was partly due to rising interest rates and sparked fears of a global banking rout. Investors are evenly split between those expecting a 25 basis point hike and those backing a 50 basis point raise on Thursday, according to probabilities derived from market prices by Refinitiv. As for GDP, the central bank in December forecasted a rebound in growth from 0.5% this year to 1.9% in 2024. Reuters Graphics Reuters GraphicsFollow @guerreraf72 on TwitterCONTEXT NEWSThe European Central Bank announces its interest rate decision and new economic forecasts on March 16.

☆ Hungary ruling party seeks new delay in Nordic NATO ratifications
▼ + stars: | 2023-03-14 | by ( ) www.reuters.com time to read: +2 min

BUDAPEST, March 14 (Reuters) - Hungary's ruling party lawmakers want to postpone next week's parliament session, which means a further delay in its ratification of Finland and Sweden's NATO admission. The ruling Fidesz party confirmed to Reuters that parliament would not hold a session next week, which they said was due to a "delay in negotiations with Brussels." Hungary is mired in a dispute with the European Commission over the release of EU funds. Sweden and Finland applied last year for membership of the transatlantic military alliance after Russian forces invaded Ukraine. All 30 NATO members must ratify the applications, and Hungary and Turkey have held back their approvals.

☆ Climate change is making plane turbulence worse, and it could make flights bumpier and more expensive
▼ + stars: | 2023-03-11 | by ( Crystal Raypole | Jessica Orwig | ) www.businessinsider.com time to read: +8 min

Experts believe severe turbulence may increase in years to come as patterns of severe weather continue around the globe. But pilots also have to contend with clear-air turbulence, which is turbulence that has no visible cause. Weather researchers further predict clear-air turbulence will double by 2050, with severe turbulence increasing the most. "The highest altitude flights over the North Atlantic will encounter the most significant increase in severe turbulence," Bennett said. Only 1% of the atmosphere has moderately severe turbulence, and a few tenths of a percent have severe turbulence," she said.

☆ Ukraine scorns Russian missile strikes on civilians, defence of Bakhmut holds
▼ + stars: | 2023-03-10 | by ( Pavel Polityuk | ) www.reuters.com time to read: +6 min

[1/7] Ukrainian servicemen walk along a muddy road near the frontline town of Bakhmut amid Russia’s attack on Ukraine, Donetsk region, Ukraine March 8, 2023. Kyiv says the air strikes have no military purpose and aim to harm and intimidate civilians, a war crime. Ukrainian military analyst Oleh Zhdanov said that the failure of Russian intelligence to identify military targets and led to a "Plan B - demoralising the population". HYPERSONIC MISSILESThe White House said that the barrage was "devastating" to see and Washington would continue to provide Ukraine with air defence capabilities. Moscow says Bakhmut is important as a step to securing the surrounding Donbas region, a major war aim.

☆ JetBlue is going after traditional airlines serving the transatlantic market with a new route to Paris starting at $479, undercutting both Delta and American
▼ + stars: | 2023-03-08 | by ( Bianca Giacobone | ) www.businessinsider.com time to read: +3 min

JetBlue is launching a new New York to Paris route in June, with tickets starting at $479. Two years after launching its service to London, the airline has announced tickets starting at $479 from New York to Paris, round-trip. Fares at the of June 2023, when JetBlue will start flying to Paris, currently start at $1082 across all other airlines. When JetBlue debuted its new New York-London Heathrow flights in August 2021, fares started at $202, while they currently cost around $559 roundtrip, according to Expedia. The lower Paris fares will likely follow a similar path.

☆ New EU-US data pact may come too late for Facebook -regulator
▼ + stars: | 2023-03-07 | by ( Conor Humphries | ) www.reuters.com time to read: +3 min

SummarySummary Companies Facebook may face EU-U.S. data freeze by MayAction due to concerns about U.S. intelligenceNew EU-U.S data privacy deal may come laterDUBLIN, March 7 (Reuters) - A new pact to facilitate the safe transfer of EU citizens' personal data to the United States might not come into force in time to avoid a suspension of Facebook's transatlantic data flows, the U.S. firm's lead European regulator said on Tuesday. European Union regulators led by Ireland's Data Protection Commissioner (DPC) Helen Dixon are finalising a ban on the legal tool used by Facebook to transfer European user data because of concerns U.S. intelligence agencies could access them. In an interview, Dixon said the ban could be in place by mid-May while a new EU-U.S data protection framework that would provide an alternative basis for the transfers might take longer. It must be signed off by other European regulators by April 13, and after that, Dixon said she would have another month to issue a ruling. NEW FRAMEWORKOfficials have said the new EU-U.S. framework, which aims to offer EU citizens the same level of data protection as under European law, may be ready by summer.

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