Spirit Airlines, the no-frills US travel pioneer, has filed for bankruptcy protection after struggling with years of losses, failed merger attempts and heavy debt levels, the company said. The Florida-based airline said on Monday that it had pre-arranged a deal with its bondholders to restructure its debts and raise money…
Boeing CEO Kelly Ortberg has laid out a cautious path to turn the company around, calling for a “fundamental culture change” at the struggling plane maker as its quarterly losses surged to $6bn due to a crippling strike. Boeing has racked up losses of nearly $8bn for the current year,…
Spirit Airlines shares soared by as much as 65% on Monday after the budget airline struck a deal to extend its debt refinancing plan by two months. The agreement with US Bank National Association to push the deadline — which was set to expire Monday — until Dec. 21 provides…
Today, the world is confronting a “polycrisis” – many dire crises occurring simultaneously, reinforcing and feeding into each other, that are inseparable. Global South countries are experiencing climate, hunger, energy, debt, and development crises, made worse by wars and conflicts in Ukraine, the Middle East, and elsewhere. Responses from the…
Tupperware Brands Corp. and some of its subsidiaries filed for Chapter 11 bankruptcy protection on Tuesday, giving in to dwindling demand for its once-iconic food storage containers and mounting financial losses. The company’s struggles resumed after a short-lived pandemic boost, when increased home cooking briefly drove demand for its colorful, airtight…
Boeing is freezing hiring and is weighing temporary furloughs in the coming weeks to manage costs as a strike by more than 30,000 Boeing workers who build planes in factories on the West Coast of the United States stretched into its fourth day on Monday. The strike would also impact…
Unexpectedly high medical bills are common in the United States, but there are ways to get relief. According to the Consumer Financial Protection Bureau, one in five Americans are affected by outstanding medical debt, for a total cost of $88 billion. In a 2022 study, the bureau found that roughly 20%…
(The Center Square) – North Carolinians without student loans “should not have to pay for someone else’s degree,” US Sen. Thom Tillis says. For the 87% in the state’s population without student loan debt, the state’s senior senator says worsening inequality and adding $1.4 trillion to national debt through President…
US debt is on track to reach more than $50 trillion dollars over the next decade. The US is more than $34 trillion dollars in debt. That’s almost equal to its entire gross domestic product (GDP). The figure is bigger than any other nation’s debt, but does that matter when…
IMF says inflation has dropped from 70 percent, economy expanded in the second half of 2023. The economic situation in debt-stricken Sri Lanka has started to gradually improve following its worst economic crisis two years ago, the International Monetary Fund (IMF) has said. Inflation has come down from a peak…
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