Monday, February 18US and Worldwide HEADLINE NEWS!

Business

Flybmi, British airline, collapses, strands hundreds – Washington Times

Flybmi, British airline, collapses, strands hundreds – Washington Times

Business
. LONDON — Hundreds of passengers throughout Europe have been stranded by the abrupt collapse of the British regional airline Flybmi. British Midland Regional Limited, which operates as Flybmi, said it’s filing for administration - a British version of bankruptcy - because of higher fuel costs and uncertainty caused by Britain’s upcoming departure from the European Union. “Current trading and future prospects have also been seriously affected by the uncertainty created by the Brexit process, which has led to our inability to secure valu...
Hundreds stranded as British airline Flybmi collapses – World – WTHR

Hundreds stranded as British airline Flybmi collapses – World – WTHR

Business
. LONDON (AP) — Hundreds of passengers throughout Europe have been stranded by the abrupt collapse of the British regional airline Flybmi.British Midland Regional Limited, which operates as Flybmi, said it's filing for administration — a British version of bankruptcy — because of higher fuel costs and uncertainty caused by Britain's upcoming departure from the European Union."Current trading and future prospects have also been seriously affected by the uncertainty created by the Brexit process, which has led to our inability to secure valuable flying contracts in Europe and a lack of confidence around bmi's ability to continue flying between destinations in Europe," the airline said on its website late Saturday.The airline thanked workers for their dedication and said "...
Airbus Won’t Miss the A380 Jumbo Jet – Yahoo News

Airbus Won’t Miss the A380 Jumbo Jet – Yahoo News

Business
. On Thursday, Airbus (NASDAQOTH: EADSY) finally bowed to the inevitable and announced that it will end production of its A380 jumbo jet in 2021. The A380 production run will end with just over 250 having been built -- of which 234 have already been delivered -- a far cry from the 1,500-unit opportunity that Airbus initially envisioned.The demise of the A380 means that Airbus will never recover its $20 billion-plus research and development costs. That said, it has been years since Airbus could reasonably expect to make a profit on the A380. Ending production sooner rather than later will allow the company to shift resources toward more promising projects, boosting future earnings and cash flow.An airplane without a marketAirbus' rationale for developing a massive jumbo jet was that surgi...
Flybmi Collapses; Brexit Blamed – Matthew Clint

Flybmi Collapses; Brexit Blamed – Matthew Clint

Business
. Flybmi has suddenly collapsed. All flights have been cancelled and FAs ordered home. The UK-based regional carrier chiefly blames Brexit for its demise. Flybmi served 23 destinations in Europe with a fleet of 17 Embraer regional jets. Here’s the full announcement from Flybmi, whose website has been transformed to a press release about the carrier’s collapse: It is with a heavy heart that we have made this unavoidable announcement today. The airline has faced several difficulties, including recent spikes in fuel and carbon costs, the latter arising from the EU’s recent decision to exclude UK airlines from full participation in the Emissions Trading Scheme. These issues have undermined efforts to move the airline into profit. Current trading and future prospects h...
Why Amazon’s huge plans for New York fell apart – FingerLakes1.com – fingerlakes1.com

Why Amazon’s huge plans for New York fell apart – FingerLakes1.com – fingerlakes1.com

Business
. Amazon’s plans for New York City were poised to become one of the largest economic-development projects in state history.D&CBetween 25,000 to 40,000 jobs in the Long Island City section of Queens. An estimated $27 billion in tax revenue, backed by $3 billion in state and local subsidies. Supporters said it would advance the city’s efforts to bolster its tech sector, making it less reliant on the fluctuations from Wall Street. But soon after New York won a national competition last November along with Virginia for the Amazon HQ2, the project started to unravel. And on Thursday, Amazon pulled out of the deal, leaving supporters to point fingers at who is to blame and opponents celebrating their ability to beat back the world’s largest company. “Anything is pos...
Uber Lost $1.8 Billion in 2018 Despite Record Ride-Hailing, Food-Delivery Gains – The Drive

Uber Lost $1.8 Billion in 2018 Despite Record Ride-Hailing, Food-Delivery Gains – The Drive

Business
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“We know the game is rigged”: NYC Mayor Bill de Blasio slams Amazon HQ2 reversal – Axios

“We know the game is rigged”: NYC Mayor Bill de Blasio slams Amazon HQ2 reversal – Axios

Business
. In a New York Times op-ed published Saturday evening, New York City Mayor Bill de Blasio condemned Amazon for its decision to pull the plug on its HQ2 expansion in Queens, calling it a byproduct of massive economic power concentrated in the hands of few wealthy corporations."As the mayor of the nation's largest city, a place that's both a progressive beacon and the very symbol of capitalism, I share the frustration about corporate America. So do many of my fellow mayors across the country. We know the game is rigged. But we still find ourselves fighting one another in the race to secure opportunity for our residents as corporations force us into all-against-all competitions.Amazon's HQ2 bidding war exemplified that injustice."The big picture: De Blasio suggested that had Amazon taken t...
Staffers speculate Amazon ditched HQ2 deal to help Bezos’ love life – Page Six

Staffers speculate Amazon ditched HQ2 deal to help Bezos’ love life – Page Six

Business
. Beyond all the local political intrigue and infighting surrounding Amazon pulling out of a planned new headquarters in Queens, sources told Page Six that there is watercooler talk among staffers at the Seattle tech giant that the deal fizzling had a hidden upside for Amazon leader Jeff Bezos. “Bezos does not want to be under media scrutiny,” said a source. “New York is America’s media capital. Since the [Lauren] Sanchez story broke, he realizes what it would be like to be in the city a couple of days a week.” Just a month before the Amazon pullout, ­Bezos’ bombshell relationship with Sanchez was revealed by the National Enquirer, and the Amazon boss announced publicly that his marriage to his wife of 25 years was over. Sanchez has been spotted in...