Faults with engines supplied by Pratt & Whitney to Go Airlines India Ltd. forced the budget carrier to keep its brand-new Airbus SE jets on the ground for 17,244 days since in the past three years, according to a legal filing in a Delaware court.
China’s factory activity struggled in April, a private survey showed, adding to signs of imbalance within the economic recovery.
Asian stocks were mixed Thursday after Federal Reserve chairman Jerome Powell played down the prospect for interest-rate cuts and as fresh turmoil in the US banking sector renewed fears of a credit squeeze.
President Joe Biden has picked Federal Reserve Governor Philip Jefferson for a promotion to vice chair and will nominate economist Adriana Kugler to an open board slot, according to people familiar with the matter.
Ukrainian President Volodymyr Zelenskiy denied the Kremlin’s claim that drones from Kyiv attempted to strike Moscow or assassinate Vladimir Putin. Russia said earlier it has the right to respond after it downed two drones Tuesday night that it said were part of a “planned terrorist act.”
Chinese stocks edged lower in post-holiday trade after upbeat spending data failed to boost sentiment.
The US and the Philippines promised to deepen their defense alliance through expanded military drills and joint patrols during President Ferdinand Marcos’s visit at the Pentagon where he was given rare honors, amid escalating China tensions.
The euro will likely advance to its highest level since 2021, as the dollar is set to weaken with the Federal Reserve signaling a pause in rate hikes and the European Central Bank continuing to tighten policy, according to Deutsche Bank AG.
Investors are increasingly convinced that central banks across Asia will follow the Federal Reserve in swiftly closing out this policy tightening cycle and are bracing for interest-rate cuts later this year.
Johnson & Johnson’s consumer health business Kenvue Inc. raised $3.8 billion in an upsized initial public offering that is the biggest US listing since 2021.
