[Airlines] British Airways has been forced to cut flight schedules further as it struggles to hire staff quickly enough to meet renewed demand for travel after culling nearly 10,000 jobs during the pandemic, raising concerns the carrier could miss out on a bumper summer for European airlines.
Over60: FT
[Football] Todd Boehly consortium signs an agreement to take over Chelsea Football Club from Roman Abramovich. The group headed by the LA Dodgers part-owner - which includes backing from Clearlake Capital, a US investment firm - beat off late competition from £4.25billion bidder Sir Jim Ratcliffe.
Over60: SkySports
[Banks] Western banks are steeling themselves for a $10bn hit on their forays into Russia, as they prepare to pull out of the country because of its invasion of Ukraine. Western banks collectively have $86bn of exposure to Russia — with close to 40,000 staff — and are setting aside more than $10bn in expectation of losses on their ventures.
Over60: FT
[Markets] US stocks have suffered the worst streak of weekly losses in more than a decade after days of tumultuous trading surrounding the Federal Reserve’s decision to raise interest rates by half a percentage point. The Nasdaq Composite, comprised of many of the largest US technology companies, fell 5 per cent on Thursday.
Over60: FT