Latest News

Virgin Galactic's first space tourism flight set to take off
Virgin Galactic's first space tourism flight set to take off
Business and Economy
by  AFP

The long-awaited, first civilian space tourism flight by Virgin Galactic was set for takeoff Thursday, carrying an 80-year-old ex-Olympian and a mother and daughter who won their tickets in a sweepstakes. Virgin Galactic competes in the "suborbital" space tourism sector with billionaire Jeff Bezos's company Blue Origin, which has already sent 31 people into space using a vertical lift-off rocket.

Lufthansa pilots receive pay hikes to fight inflation
Lufthansa pilots receive pay hikes to fight inflation
Business and Economy
by  AFP

Lufthansa pilots are to receive pay rises totalling 18 percent in the coming years, with the German airline saying Thursday it would bring "stability" after strikes over surging inflation. The airline said it comprised staggered pay rises until the end of 2026, amounting to an increase of least 18 percent of basic salary.

Coach owner to acquire Michael Kors, Versace parent in $8.5bn deal
Coach owner to acquire Michael Kors, Versace parent in $8.5bn deal
Business and Economy
by  AFP

Tapestry, the US owner of lifestyle brands including Coach and Kate Spade, said Thursday it will acquire Michael Kors parent company Capri for $8.5 billion, creating a new global fashion giant to compete with European powerhouses. "Kate Spade was also in a similar position when Tapestry acquired it, and is now emerging in positive form from a successful reinvention.

US consumer inflation edges up in July
US consumer inflation edges up in July
Business and Economy
by  AFP

US consumer inflation inched up in July, government data showed Thursday, rebounding slightly for the first time in around a year and adding pressure on policymakers as they weigh further interest rate hikes. Farooqi added that the July figures will be "welcome news to policymakers" who have a longer-term target of two percent.