Business

(AFP) — Philippine Airlines has said it has emerged from bankruptcy after a U.S. court approved its plan to slash up to $2 billion in debt and obtain additional capital. The national carrier of the Philippines had filed for bankruptcy in the United States in September, seeking relief from creditors…

WASHINGTON (Reuters) — U.S. construction spending increased in November amid strong gains in single-family homebuilding, but outlays on public projects were weak. The Commerce Department said on Monday that construction spending rose 0.4% after a similar advance in October. Economists polled by Reu…

TWO of Hyatt Regency Saipan’s key managers have reached their retirement age and are now ready to move on to the next chapter of their lives. Human Resources Director Josephine Mesta and Director of Rooms Rosalyn Quintanilla announced their retirement last week. In separate interviews, they s…

NEW YORK (Reuters) — Oil prices fell on Friday but were set to post their biggest annual gains since at least 2016, spurred by the global economic recovery from the Covid-19 pandemic slump and producer restraint, even as infections reached record highs worldwide. Brent crude futures settled down $1…

(Reuters) — United Airlines and Spirit Airlines Inc are bumping up pay for on board staff as they scramble to keep schedules intact after U.S. airlines were hammered by a week of mass cancellations. While Spirit’s flight attendants are receiving double pay on any work through Jan. 4, accordin…

LONDON/NEW YORK (Reuters) —  For global financial markets, the second year of the Covid pandemic has been nearly as dramatic as the first. The stocks bulls have stayed firmly in charge, surging energy and food prices have turbo-charged inflation, rattling the bond markets, while China has seen $1 t…

(Reuters) — Major U.S. retailers’ longer return policies, launched during the pandemic this year to lure consumers, could leave them facing much higher costs if shoppers bring back a record-setting $112 billion in gifts bought during the extended holiday shopping season. Retailers entered the…

LONDON (Reuters) — Bitcoin close to $70,000, “memecoins” worth billions of dollars, a blockbuster Wall Street listing and a sweeping Chinese crackdown: 2021 was the wildest yet for cryptocurrencies, even by the sector’s volatile standards. Digital assets started the year with a st…

SYDNEY (Reuters) — Asian shares flatlined on a slow Thursday as the spread of Omicron clouded what is the last trading day of the year for many exchanges, while oil was close to finishing 2021 with gains of more than 50%. With coronavirus cases hitting record highs, many countries are trying to lim…

THE spread of the Omicron variant of Covid-19 has resulted in flight cancellations around the world, including those bound for the CNMI through the Travel Resumption Investment Plan or TRIP. Marianas Visitors Authority Managing Director Priscilla M. Iakopo said nearly 30% of passengers have either …