Delta Cuts 2026 Profit Forecast as Fuel Costs Surge $6 Billion
Delta Air Lines lowered its full-year earnings outlook on Friday, saying jet fuel costs tied to the Iran war are rising faster than it can recoup through higher fares.
Author · News Unlimited
Sarah Jenkins
Analyzes macroeconomic trends, central bank policies, global inflation, tariff disputes, and international trade agreements.
Articles by Sarah Jenkins
Guardian Columnist Warns Current Market Turmoil Echoes 2008 Crash
Economics writer Larry Elliott says rising oil prices, a bond market sell-off and an AI stock bubble mirror the warning signs that preceded the 2008 financial crisis.
airBaltic Files for Chapter 11 Bankruptcy Protection in New York
Latvia's flag carrier has entered a court-supervised restructuring in the United States to cut its debt, securing €350 million in emergency financing while insisting flights and ticket sales continue as normal.
Saudi Arabia Shuts Key Pipeline After Attacks as Oil Prices Surge
Riyadh halted its main oil export route bypassing the Strait of Hormuz after strikes on pump stations, as Houthi forces advance on another vital chokepoint and Brent crude climbs past $100 a barrel.
FT Reports Houthi Forces Seized Red Sea Islands, Details Unverified
The Financial Times says Yemen's Houthi movement has taken Red Sea islands from Saudi-backed forces in a rapid offensive. The specific claim could not be independently corroborated at the time of writing.
Jaguar Land Rover to cut 4,000 jobs worldwide over two years
Britain's largest carmaker will shed roughly a tenth of its workforce, mostly in management and research roles, as it tries to recover from a cyberattack, US tariffs and falling sales.
Hedge fund billionaire Chris Rokos to leave UK tax residency for Greece
Chris Rokos, founder of Rokos Capital Management and Britain's third-highest taxpayer last year, is preparing to move his tax residency to Greece and open an office in Athens, Bloomberg reports.
Houthi Attacks on Saudi Oil Sites Push Brent Crude Toward $100
Yemen's Houthi rebels struck energy facilities across southern Saudi Arabia on 8 September, injuring more than 70 people and driving oil and gas prices sharply higher.
Canada Hits Back at US With Tariffs on 700 Products
Canada has imposed retaliatory tariffs of up to 50% on roughly US$20 billion of American goods, deepening a trade dispute that began when President Trump raised duties on Canadian exports earlier this year.
Trump announces US stake in Venezuela's oil reserves after Maduro's capture
US President Donald Trump says a new joint venture gives Washington majority control of tens of billions of barrels of Venezuelan crude. The deal follows the capture of former president Nicolás Maduro and comes with a 100-year concession attached.
Fed's Warsh gives first Jackson Hole speech amid rate uncertainty
Kevin Warsh delivers his debut keynote as Federal Reserve chair on Friday, with investors seeking clarity on inflation and interest rates after months of sparse communication.
Nvidia forecasts 70% revenue growth, well above Wall Street estimates
Nvidia issued its first-ever year-ahead forecast, predicting revenue growth far outpacing analyst expectations, while defending its financing arrangements with AI customers against accusations of circular dealing.
Meta agrees $16.7bn settlement with US states over child safety
Meta Platforms has settled with a coalition of 29 US states midway through a federal trial in California, agreeing to pay billions and change how Instagram and Facebook treat young users.
China warns US of retaliation over expanded Iran sanctions
Beijing says it will defend Chinese companies after Washington sanctioned nearly 60 entities tied to Iran's oil trade, including firms in Hong Kong and mainland China.
Druckenmiller Criticises Bessent's Expanded Treasury Bond Buybacks
Billionaire investor Stanley Druckenmiller has publicly attacked his former protégé, US Treasury Secretary Scott Bessent, over a plan to buy back more long-term government bonds, calling it an attempt to manage prices rather than markets.
Shein Confirms Hong Kong Listing at Roughly $27bn Valuation
The fast-fashion retailer will list on the Hong Kong Stock Exchange on 1 September, at a valuation far below the $100bn it once commanded, after repeated failed attempts to go public in New York and London.
Global Trade Defies Tariff Forecasts, WTO Sharply Raises 2025 Outlook
Economists expected Donald Trump's 2025 tariffs to shrink world trade. Instead, the World Trade Organization has repeatedly revised its growth forecast upward, as businesses rerouted shipments rather than abandoned them.
Portugal and Spain face Europe's worst housing shortages
Both Iberian countries are building far fewer homes than their growing populations need, driving up prices and rents and fuelling street protests. Immigration-led population growth, planning bureaucracy and high construction costs are all cited as causes.
China's oil stockpiles cushioned global markets during Hormuz crisis
China's record crude reserves and falling oil demand helped steady prices after the Strait of Hormuz was closed, according to US government estimates. Analysts say the episode revealed a deeper shift toward energy self-sufficiency and electrification.
Guardian probe finds gap between Microsoft's AI claims and chip numbers
An investigation by the Guardian has found Microsoft has far fewer advanced AI chips installed than its public statements imply. The company disputes the newspaper's figures but has not said which numbers are wrong.
FT poll: most US voters say Trump has left them worse off
A new Financial Times poll finds most American voters feel worse off financially under Donald Trump, with Democrats now leading Republicans on the economy just months before November's midterm elections.
BlackBerry rebuilds as software firm a decade after phones vanished
Ten years after abandoning its once-iconic handsets, the Canadian company has turned itself into a supplier of car software and cybersecurity tools, with customers including automakers, NATO and European governments.
Panama Canal transit fees hit record highs as Hormuz shuts
Shipping companies are paying more than $1 million, and in some cases up to $4 million, to jump the queue at the Panama Canal. The surge follows the closure of the Strait of Hormuz and a new El Niño-driven drought.
US 30-year bond yield hits highest level since 2001 amid inflation fears
The US Treasury sold $25bn of 30-year bonds at a yield of 5.216%, the most expensive long-term borrowing since 2001, as investors demand greater compensation for persistent inflation and a widening deficit.