Latest News

US trade gap drops sharply in July on lower imports
US trade gap drops sharply in July on lower imports

A steep drop in imports, especially of consumer goods, narrowed the US trade deficit in July to its lowest level since October, the government reported Wednesday. The overall trade deficit fell by more than $10 billion to $70.6 billion compared to June, almost entirely due to the decline in imports, the report said.

Finnair to slim down as Russian airspace closure hits profits
Finnair to slim down as Russian airspace closure hits profits

Finnish airline Finnair unveiled Wednesday a new strategy to cut costs, including trimming its fleet, as the closure of Russian air space erodes profitability. "Following Russia's invasion of Ukraine and the subsequent closure of Russian air space, flight times to Finnair's Asian destinations are now considerably longer, weakening the profitability of the company," the airline said.