Air France-KLM is exploring new ways to raise funds to pay back a government pandemic bailout, while cautiously ramping up capacity as the latest coronavirus wave fades, Bloomberg News reported. The shares fell as much as 6.3% in Paris on Thursday after the struggling airline laid out options to raise capital of as much as 4 billion euros ($4.5 billion). Selling more equity would help the group lower debt and free itself from the conditions of state aid, but would also dilute existing owners.
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High numbers of bosses are “cashing out” of their businesses by liquidating companies when they are still solvent, business recovery experts have said, the Daily Echo reported. Portland Leonard Curtis paid out more than £26million in 2021 through members’ voluntary liquidations (MVL) of 76 businesses, including local firms and national brands.
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L’Écocirque features all the awe-inspiring acts that audiences have come to expect under the big top—aerialists walking a tight rope, a juggler deftly keeping multiple pins in motion, and a burly man displaying incredible feats of strength. What makes it distinct is the innovative way it includes wild animals, despite widespread bans on their use in the circus. The trick? Instead of live animals, l’Écocirque employs holograms, Bloomberg Businessweek reported.
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British consumer prices rose at the fastest annual pace in nearly 30 years last month, intensifying the squeeze on households and reinforcing the chances that the Bank of England will raise interest rates for a third meeting in a row, Reuters reported. The annual rate of consumer price inflation rose to 5.5% in January, the highest since March 1992, when Britain was emerging from a long period of inflation-feeding high wage deals. This was above most economists' forecasts in a Reuters poll for it to hold at December's 5.4% rate.
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The property market is a "key vulnerability" for euro zone banks as the rise of remote working since the pandemic dents demand for offices and households take on more debt to buy expensive homes, the European Central Bank said on Wednesday, Reuters reported. Central bankers have been ringing alarm bells about the euro zone's booming property market that has a decade of ultra-low interest rates and light-touch prudential regulation have helped create.
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Europe’s top court ruled on Wednesday that the European Union could withhold money for member countries that have curtailed the independence of their democratic institutions, marking a potentially costly defeat for Hungary and Poland, the Wall Street Journal reported. The ruling, by the EU’s European Court of Justice, gives the bloc more power to clamp down on governments accused of purging their judiciary or weakening anti-corruption watchdog agencies.
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Germany is set to ease COVID-19 restrictions as a wave of infections from the Omicron coronavirus variant seems to have passed its peak in most federal states, a draft plan seen by Reuters showed on Wednesday. In the three stage plan, restrictions on private indoor meetings will be dropped for those vaccinated or recovered from the virus, according to the draft, prepared for a meeting between Chancellor Olaf Scholz and the heads of the federal states on Wednesday.
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Spain suffered the euro zone’s worst slump after the Covid-19 pandemic erupted -- but it would have been much worse without speedy action from the European Central Bank, according to a new study, Bloomberg News reported. The ECB’s bond-buying and liquidity lines kept credit flowing, sovereign-debt costs steady and permitted extra public spending, BBVA Research economists Sonsoles Castillo, Rafael Domenech and Miguel Jimenez said in the paper, published Tuesday.
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A possible Russian invasion of Ukraine is threatening to deepen a continuing economic crisis in nearby Turkey, which faces the prospect of soaring energy prices and disrupted trade with its two Black Sea neighbors in the event of war, the Wall Street Journal reported. Turkey’s economy has already been shaken by inflation that is among the highest in the world, after a series of unorthodox economic steps and a collapse of the currency’s value over the past year. Turkey is dependent on imported Russian oil and natural gas, as well as tourists from both countries.
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The Dutch government announced Tuesday that it will scrap virtually all its remaining coronavirus restrictions by the end of the month as infection rates begin to decline and pressure on health care services eases, the Associated Press reported. “The country is opening up again,” Health Minister Ernst Kuipers said. The Dutch are following neighboring Belgium and other European nations in easing restrictions as the continent increasingly looks for ways of co-existing with the virus without the economic and social damage wreaked by lockdown measures.
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