The aviation industry has been under pressure to reduce its carbon footprint, with many airlines setting ambitious targets to become more sustainable. However, delays in aircraft deliveries, caused in part by the global supply chain crisis, are hampering these efforts.
Airbus CEO Guillaume Faury acknowledged the frustration felt by airlines, stating that the company is working hard to address the issue and minimize the impact on the industry’s sustainability goals.
As the world continues to grapple with the challenges of climate change, the aviation industry must find ways to balance the need for growth with the imperative to reduce emissions. Collaboration between manufacturers, airlines, and regulators will be key to achieving this delicate balance.
Stay tuned for more updates on this developing story.
Ms Reeves, the shadow chancellor, said the decision to scrap the fund was due to the need to prioritize spending on frontline services in the wake of the pandemic. However, critics have accused Labour of abandoning its commitment to revitalizing communities outside of major cities.
Transport Secretary Grant Shapps criticized the move, saying it was a “betrayal of small towns and rural communities” who had been promised improved transport links under the fund. He called on Labour to reconsider the decision and reinstate funding for the projects.
The decision to scrap the Restoring Your Railway fund comes as the government faces pressure to deliver on its promises to improve infrastructure and connectivity across the country. With the future of these projects now uncertain, communities that had hoped for better rail connections will have to wait and see if alternative funding sources can be found to support their revitalization efforts.
The lawsuit alleged that Facebook collected facial recognition data without users’ consent, violating the state’s privacy laws.
As part of the settlement, Meta will also be required to delete all face templates of Texas residents from its database, unless they provide explicit consent.
Meta did not admit any wrongdoing as part of the settlement, but agreed to implement changes to its practices moving forward.
05:06 PM BSTUK government to sell Channel 4
The UK government has announced plans to privatize Channel 4, the publicly-owned broadcaster.
Culture Secretary Nadine Dorries said the sale would help secure the broadcaster’s future and enable it to compete effectively in the digital age.
Channel 4, which is funded by advertising and public money, has faced financial challenges in recent years as viewership habits shift towards online streaming services.
The government plans to launch a consultation on the sale in the coming weeks, with potential buyers including other broadcasters, tech companies, and private equity firms.
Some critics have raised concerns about the impact of privatization on Channel 4’s editorial independence and its ability to produce high-quality, innovative content.
However, supporters of the move argue that privatization could provide the broadcaster with the resources and flexibility needed to thrive in a rapidly changing media landscape.
04:58 PM BSTUS consumer confidence falls in July
US consumer confidence fell in July as concerns about rising inflation and the spread of the Delta variant weighed on sentiment.
The Conference Board’s consumer confidence index dropped to 129.1 in July, down from 135.8 in June. Economists had expected a smaller decline to 123.9.
Despite the decline, consumer confidence remains relatively high compared to pre-pandemic levels, reflecting ongoing optimism about the economic recovery.
However, rising prices and uncertainty about the future impact of the Delta variant are causing some consumers to reassess their spending plans.
The drop in consumer confidence could have implications for the broader economy, as consumer spending accounts for the majority of US economic activity.
Economists will be closely watching future readings of consumer confidence to gauge the resilience of the US recovery in the face of ongoing challenges.
04:48 PM BSTUK government to set out plans for energy security
The UK government is set to outline its plans for enhancing energy security in the wake of rising global gas prices and concerns about the reliability of renewable energy sources.
Business Secretary Kwasi Kwarteng is expected to announce measures aimed at reducing the UK’s dependence on imported gas and increasing investment in domestic energy production.
The government is under pressure to address the energy crisis, which has led to sharp increases in electricity and gas prices for consumers and businesses.
Potential measures could include incentives for domestic energy production, support for renewable energy projects, and efforts to improve energy efficiency and conservation.
The government has already taken steps to mitigate the impact of rising prices, including providing financial support to energy-intensive industries and low-income households.
The announcement comes as the UK seeks to balance its energy needs with its climate goals, which include reducing carbon emissions and transitioning to a greener, more sustainable energy system.
04:40 PM BSTFTSE 100 rebounds as investors digest earnings
The FTSE 100 rebounded on Tuesday as investors digested a mixed bag of corporate earnings and economic data.
The UK blue-chip index rose 0.4% in early trading, led by gains in energy and financial stocks.
Shares in BP and Shell advanced as oil prices edged higher, while banks such as HSBC and Barclays also posted gains.
However, losses in healthcare and consumer goods sectors limited the index’s gains, with AstraZeneca and Unilever among the laggards.
Investors are closely watching corporate earnings reports for insights into the health of the global economy and the outlook for key sectors.
Market sentiment remains cautious amid concerns about inflation, supply chain disruptions, and the impact of the Delta variant on economic activity.
The FTSE 100 is trading below its record high reached earlier this year, reflecting lingering uncertainty and volatility in global markets.
Source: The Telegraph
The number of people quitting their jobs fell slightly to 3.6m, and hiring dropped to 6.7m. The decrease in job openings could be a result of employers being more cautious with their hiring as interest rates rise, making it more expensive to borrow money for expansion.
The US Federal Reserve is expected to raise interest rates later this year in an effort to cool inflation, which is running at its highest level in decades. The central bank has already started to reduce its bond-buying program, which was put in place during the pandemic to stimulate the economy.
While a slower job market could mean less pressure on inflation, it could also mean less wage growth for workers. Employers may be less willing to raise wages if they have fewer job openings to fill.
Overall, the US economy is still strong, with unemployment at a low 5.9% and job openings well above pre-pandemic levels. But as interest rates rise and inflation remains high, the job market could continue to cool in the coming months.
Overall, investors are keeping a close eye on corporate earnings as well as economic data, such as the consumer confidence index, to gauge the health of the economy and the potential for future interest rate hikes.
Market participants are also closely watching the Bank of Japan’s upcoming rate decision, as the yen weakens against major currencies ahead of the announcement.
As the economic landscape continues to evolve, investors are navigating through the uncertainty and positioning themselves accordingly in the markets.
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02:09 PM BSTChina Evergrande Group shares suspended
Shares of China Evergrande Group, one of the country’s largest property developers, have been suspended from trading on the Hong Kong Stock Exchange.
The company, which is struggling with a massive debt burden, said it requested the suspension pending the release of an announcement regarding “inside information.”
Evergrande has been teetering on the brink of collapse for months, with fears that a default could have widespread implications for the Chinese economy.
Investors are anxiously awaiting news on the company’s restructuring plans and potential government intervention.
01:45 PM BSTUS markets set to open higher
US stock futures pointed to a higher open on Wednesday as investors awaited earnings reports from Big Tech companies.
The S&P 500 futures rose 0.4pc, indicating a positive start for the benchmark index. The Dow Jones futures also gained 0.4pc, while the Nasdaq futures advanced 0.5pc.
Investors will be closely watching earnings reports from Meta, Apple, Amazon, and Microsoft, among others, to gauge the health of the technology sector.
Meanwhile, the Federal Reserve is set to announce its decision on interest rates later today, with expectations that it will signal a more aggressive approach to fighting inflation.
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