Business

Business & Economy

EU official says ‘no-deal’ vote wont halt Brexit

STRASBOURG, France (AP) — The European Commission is warning Britain’s Parliament that voting against Brexit happening without a withdrawal deal in place isn’t enough and lawmakers must approve the deal, too.

An official from the EU’s executive branch noted Wednesday that the bloc already reached a divorce deal with Prime Minister Theresa May and the House of Commons rejected it - twice.   

The official asked not to be identified because of the sensitivity of the unresolved situation.

Etihad Airways loses $1.28B in 2018 in third year of losses

DUBAI, United Arab Emirates (AP) — Abu Dhabi’s Etihad Airways said Thursday it lost $1.28 billion in 2018, the third-straight year the government-owned long-haul carrier has lost over a billion dollars.

Since 2016, Etihad has lost a total of $4.75 billion as its strategy of aggressively buying stakes in airlines from Europe to Australia to compete against Emirates and fellow rival Qatar Airways exposed the company to major losses.

European Parliament votes to suspend Turkey's EU membership bid

14 Mar 2019; DW: The European Parliament has voted to formally suspend EU accession talks with Turkey, citing severe political and democratic backsliding under President Recep Tayyip Erdogan.

Lawmakers passed the symbolic non-binding resolution with 370 votes in favor and 109 against, with 143 abstentions.

China's new foreign investment law to boost opening-up

WASHINGTON, March 13 (Xinhua) -- A longtime U.S. observer on China has said the draft foreign investment law being deliberated in Beijing is "definitely a step forward" in the country's continued reform and opening-up.

David Dollar, a senior fellow in the John L. Thornton China Center at the Brookings Institution, told Xinhua in an interview on Monday that he believes the draft law will attract more foreign investment.

U.S. grounding all Boeing 737 Max 8 and 9 as pressure mounts

WASHINGTON, March 13 (Xinhua) -- The United States is grounding all Boeing 737 Max 8 and 9 aircraft, said U.S. President Donald Trump Wednesday, as the country becomes the last major country to do so after two crashes by the model in recent months.

"All of those planes are grounded, effective immediately," Trump told a press event, referring to the Boeing 737 Max variations.

"The safety of the American people, of all people is our paramount concern," Trump said.

British Parliament rejects no-deal Brexit

LONDON, March 13 (Xinhua) -- British Prime Minister Theresa May will have one last shot of winning support for her Brexit deal after MPs voted Wednesday to stop Britain quitting the European Union (EU) without a deal.

A vote to prevent a no-deal Brexit in any circumstance was won by 321 votes to 278 in the House of Commons.

Work and Pensions Minister Sarah Newton became the 15th government minister to resign over Brexit. She quit tonight after she voted against the government.

India: You can't have -ve atmosphere & expect econ growth: Rahul

Chennai, Mar 13 (PTI) You can't have a negative, fearful atmosphere in the country and expect economic growth, which is directly related to the mood of the country, Congress president Rahul Gandhi said on Wednesday.

Addressing women students at the Stella Maris College here, he said the Congress will change the mood of the country and make people feel happy and empowered.

Boeing 737 Max grounded in much of world after Ethiopia crash

HEJERE, Ethiopia (AP) — Much of the world, including the entire European Union, grounded the Boeing jetliner involved in the Ethiopian Airlines crash or banned it from their airspace, leaving the United States as one of the few remaining operators of the plane involved in two deadly accidents in just five months.

European agency bans Boeing 737 MAX 8 from airspace

12 Mar 2019; DW: The European Aviation Safety Agency (EASA) later said it would be grounding all flights involving the plane, widening a prohibition to all EU member states.

Germany had earlier banned flights by the Boeing 737 MAX 8 in its own national airspace, becoming one of several countries to do so after last Sunday's Ethiopian Airlines crash.

Subscribe to Business