Latest News
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Delta will offer DraftKings on all flights but not betting
Delta Air Lines announced on Wednesday that it would offer a sports prediction game in partnership with DraftKings. However, the company will not allow gambling on its flights. The airline stated that the game is open to all passengers over 21 years old and allows players to win Delta gift certificates. However, it does not allow betting, deposit functionality or financial risk. Last year, the?U.S. Senator Richard Blumenthal asked the companies to not allow gambling aboard, citing a 1962 law which prohibits gambling on commercial planes. In order to entertain passengers, airlines are now offering more content in the air. This includes games, movies and live TV. Delta claims that sports content consistently ranks as one of the most popular categories on its platform. Delta first announced its planned collaboration with DraftKings early in 2025. The new sports game will begin on Wednesday, and it is exclusively designed as an entertainment experience for Delta Sync Wi Fi. Delta announced that SkyPicks would launch with Major League Baseball matches, followed by NFL contests later in the year. The game involves passengers making predictions about real matchups. Delta Sync WiFi is required to play the game on a mobile device or personal device, and not on seatback screens. To unlock the questions, customers must either sign in with their DraftKings account or register one. The questions will include head-to-head competitions, game-winner selections and top performers on individual contests?and monthly leaderboards. According to a 2025 Pew Research poll, 22% of adults have bet on sports personally in the last year. This is up from 19% just three years ago. David Shepardson is reporting; Sharon Singleton, Emelia Sithole Matarise and Sharon Singleton are editing.
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Canada - July 29,
These are some of the most popular stories in selected Canadian newspapers. The?top stories from selected?Canadian newspapers are listed below. The GLOBE and MAIL – Zijin Gold & Allied Gold abandoned a C$5.5 billion (3.90 billion) buyout? of the Canadian miner. Instead, the?Chinese firm took a 9.2% stake? for around $295 million. Dominic LeBlanc, Canada-U.S. trade minister is back in Washington this Week as Ottawa seeks to avoid the imposition on punishing new tariffs for August 19, and advance broader trade negotiations. Apotex Health is the sole manufacturer of generic Ozempic in Canada for the next few months after a manufacturing problem at an Indian facility forced at least two competitors to withdraw. National Post - Jazz Aviation, which is primarily contracted to Air Canada has reached a tentative agreement with its flight dispatchers. This will avoid any potential disruption of labour ahead of the long holiday weekend. (Compiled by Bengaluru Newsroom)
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As investor demand cools, yields rise as a result of hyperscaler debt binge
As investors become more selective, major U.S. tech companies are borrowing heavily to fund their artificial intelligence builds. The yields on these loans have been steadily increasing. According to a LSEG analysis, Amazon, Alphabet and Meta Platforms issued approximately $194 billion of bonds between 2026 and July 7. This is up 79% compared to roughly $108 billion of bonds from 2025. Goldman Sachs expects the bond issuance of five hyperscalers including Microsoft Corporation to reach approximately $250 billion this year, and $400 billion by 2027. These investment-grade companies have seen their borrowing spreads increase over the risk-free rate for all major maturity buckets. In 2025, the spread between 2- and 4-year bonds for Amazon, Alphabet (Alphabet), Meta, and Oracle rose from 30 to 40 basis point. The median spread for 5- to 7 year debt rose from 50 basis to 60 basis, and the median spread for bonds maturing more than 20 years increased from 108.5 to 118 basis. The performance of the secondary market has also declined. An analysis of LSEG's data revealed that 78 out of 91?hyperscaler bond issued in 2026, with comparable pricing data, were trading higher yields at the end of July than they did at issuance. The median increase was approximately 22 basis points. Colby Stilson is the head of fixed income for Brown Advisory. I don't think that this type of supply will disappear in the near term. Technically, this puts pressure on spreads." While investor demand is still high in absolute terms, it has decreased as the supply has increased. Apollo Global Management reported that cover ratios, which are a measure for investor orders in relation to the amount of hyperscaler bonds sold, have fallen from almost five times in Feburary to less than two times in July. A cover ratio three times means that investors ordered three dollars worth of bonds per dollar sold. Apollo said that the drop in demand suggests that borrowers will have to increase their spreads for future deals. Recent Amazon sales show the shift. AlphaSense's research reports showed that its March U.S. dollar bond sale was 3.4 times more than its July offering. Stilson stated that "we're already experiencing fatigue in the credit markets as they support this massive debt issue." Sage Advisory reported that Amazon's $25 billion bond sale pushed a 30-year Amazon Bond issued earlier this year?about 20 basis points wide. The report estimated that the combined U.S. dollar debt footprint of hyperscalers had more than doubled to $360 billion since September. Sage Advisory stated that "each successive jumbo transaction has pushed spreads further before they finally stabilize and experience modest rallying." The data on new-issue concessions in the LSEG dataset 'pointed the same way. A new-issue concession refers to the additional yield that a borrower provides investors in order to price a bond sale relative to existing debt. The latest reading, based on a transaction with Amazon, shows that the median concession level rose from 2.25 basis point in 2025 to 12 basis points by 2026. Goldman expects hyperscaler capital expenses to reach $750 billion by?2026. Operating cash flows are projected to be around $778 billion. Debt issuance is expected to equal about a third of capital expenditure this year, and about 35% of capital expenditure in 2027. Goldman said that market saturation and issuer consolidation were likely to become more restrictive as issuance accelerates. Meanwhile, falling cover ratios are wider spreads indicate investors already demand greater compensation for the supply.
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Bangladesh's USBangla will buy 21 Boeing aircraft for $1.5 billion in expansion
US-Bangla Airlines plans to acquire 21 Boeing aircraft for $1.5 billion in order to expand its international network. The 'order,' announced at the "Beyond with Boeing", event in Dhaka includes 15 Boeing 737-8s and six Boeing 737-8s with deliveries planned by the end 2027. Bangladesh's air travel industry generates an estimated $5.8billion annually. However, foreign airlines transport the majority of passengers, leading to a significant loss of foreign currency. Bangladesh, in an effort to address the problem and boost trade with the United States, agreed to purchase 14 'Boeing' aircraft valued at $3.7 billion. US-Bangla Airlines stated that the deal announced on Wednesday was more than just a fleet expansion. Mohammad Abdullah Al Mamun said, "It reflects the long-term vision of US-Bangla to transform from an airline into a global aviation group that is fully integrated." The event was attended by government officials, diplomats and Boeing executives. Mamun said that the company founded in 2014 was also investing in technology, maintenance, cargo and catering, as well as infrastructure, to support the growth of Bangladesh's aviation industry. US-Bangla stated that the new aircraft will support expansion throughout South?Asia Southeast Asia East?Asia Middle East.?Including planned services to Bengaluru Colombo Kathmandu Beijing Penang Kuwait and Madinah. Ruma Paul is reporting; Barbara Lewis is editing.
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UK PM Burnham: Social care reform should be put before debate on assisted dying
Andy Burnham, the new British Prime Minister, said that the debate over assisted dying should wait until the palliative and adult social care systems in the country have been 'fixed'. The bill was defeated in the upper chamber. Some critics of the legislation claim that people who are vulnerable could be pressured into ending their lives because palliative and social care is often underfunded. Burnham, who became Prime Minister last week, and has made adult social care a top priority, says the debate shouldn't happen until the correct care structures are in place. Burnham, a?Catholic, responded to Burnham's question about his position on assisted dying by saying, "I think that there is something that has to happen first. That's fixing the funding for palliative and social care." It is "very difficult" to introduce this wider debate when people are not receiving that care. The legislation that was debated in England and Wales last year would have allowed terminally ill adults who are mentally competent to choose medical assistance to end their life.
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Sources say that Yemen's Houthis are considering charging ships for crossing the Red Sea.
Regional sources familiar with the matter said that Yemen's Houthi militia is considering charging fees to commercial ships navigating through the southern Red Sea a week after announcing a naval blockade against Saudi Arabia. The Iran-aligned Houthis declared a maritime boycott against Saudi Arabia on July 20th, opening up a "new" front against the U.S. Sources said that the Houthis are considering imposing fees for most traffic passing through the Bab el-Mandeb narrow gateway which connects the southern Red Sea to the Gulf of Aden. At this point, no timeframe for implementation was provided. The media office of the Houthis did not reply to a comment request. Two regional officials briefed on the matter by Tehran said that Houthi officials visited Iran in July to attend the funeral of the late Supreme Leader Ayatollah Ayatollah Khamenei. They met with their Iranian counterparts and discussed the issue of imposing fees for Bab el-Mandeb Transits. Sources said that the objectives of such a move were to normalise fees on international waterways, and increase pressure on America. The sources said that Chinese ships would not be subject to'such fees' and that the Houthis supported the arrangement. Sources have confirmed that China has had direct talks with Houthis in order to allow its tankers to safely sail through the southern Red Sea. China is the largest buyer of Saudi Arabian crude oil in the world. The IRANIAN ADVISERS GUIDE Fee Plan An Arab official in this region reported that Houthi officials returning by plane to Tehran were accompanied on the ground by 'Iranian advisors, who were there to 'guide them on how they could set up a possible authority which would regulate fees via the Bab el-Mandeb. Afrah Al-Zouba is the foreign minister-designate for Yemen's internationally recognized government. She said that "the Houthis" would try to gain access to the Red Sea, and they would try to charge vessels if they did. Two Western diplomats say that such a move will be met with strong opposition by Gulf and European nations, despite the fact that overstretched naval forces in the international arena are currently unable provide adequate protection for merchant ships and there is a lack of political appetite to change this. A senior Iranian official said that Tehran had rejected Oman's proposal for regional joint management of Strait of Hormuz, which would have included voluntary fees from shipping. This has dashed hopes of a solution to the impasse, which has been choking off Gulf trade at that chokepoint since months. SAUDI ARABIA - FACES SUPPLY THREAT Closed Bab el-Mandeb would rob Saudi Arabia of a vital alternative to the Strait of Hormuz, and increase?fears of a shortage of oil. The Red Sea?traffic is still not back to normal since the Houthi began their attacks on Yemen's coast in November 2023, which they claimed was an act of solidarity for Palestinians during the Gaza War. The attacks by the group on merchant ships only stopped with the Gaza ceasefire in October last year. Houthis claim responsibility for at least one Saudi oil tanker that was attacked off the southern Saudi port Jizan, which is near Yemen. A 2024 U.N. Panel of Experts Report claimed that the Houthis had collected fees in return for'safe passage' from shipping agencies transiting through the Red Sea and Gulf of Aden at the height of their maritime campaign. However, the report said it could not independently verify this information. These fees were estimated at $180 million per month, but these details were not confirmed. The average time to ship cargo from the Bab el-Mandeb through the Suez Canal, then through southern Africa, is 16 days. This compares with 50 days if the cargoes were rerouted via the northern Red Sea and the Suez Canal. (Reporting and editing by Jonathan Saul; reporting by Parisa Hafezi; Timour Azhari, Mohammed Ghobari, and Ros Russell).
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Travel companies in the US are resilient enough to absorb Middle East shock.
Early earnings reports show that travel companies, including hotel chains and cruise operators, relied on the resilient U.S. leisure and business demand. They also benefited from a temporary boost from World Cup to offset the effects of the Middle East war. Fuel costs have increased and international travel has been disrupted by the?conflict. However, earnings reports released on Tuesday indicate that many consumers are not deterred by economic uncertainty or higher travel costs. The founder of GetCruiseInfo.com, Brian Rooney, said that "JetBlue Hilton and Royal Caribbean have all shown continued strength with higher-valued products. This suggests that travelers still prioritize experiences, even though they are becoming more selective in their discretionary spending." These results confirm that we are still experiencing a K-shaped economy in travel. While higher-income travelers book premium experiences, value-conscious travellers adjust when and how to travel instead of giving up vacations entirely. Hilton Worldwide Holdings has raised its forecast of full-year revenue growth, driven by strong demand for its luxury properties, and the expected benefits to the third quarter from the World Cup. However, the U.S. hotelier's Middle East -and Africa room revenue fell 29.5% compared to the previous period. Hilton CEO Christopher Nassetta stated in a conference call that the World Cup helped boost earnings, but mid-scale hotels saw the greatest turnaround, as they benefited from the business and group travel market. Hilton's RevPAR (room revenues) grew by about 1.7% in the second quarter due to the soccer event. Visa, the world's largest processor of payments, noted an?improvement from the event. Chris Suh, Chief Financial Officer of the United States, said that the total card-present spending in the U.S. increased. Card-present transactions rose as much as 20 percent in certain host cities during match days at the FIFA World Cup. The entertainment and restaurant categories saw the largest growth in cross-border spending. Royal Caribbean, the cruise operator, raised its profit forecast for this year but cut its revenue growth projection as it accounted for a slight drop in bookings due to prolonged geopolitical tensions. The Miami-based company reported an increase of 27% in its quarterly fuel costs to $355 millions from the previous year, but reduced its forecast for full-year fuel expenses from $1.35 to $1.34 billion. Royal Caribbean's chief financial officer, Naftali Hoetz, said: "Consumer interest in our vacation experiences continues to be strong and guests are willing to spend money on memorable experiences." The war in Iran has been a major blow to the airlines. Although most U.S. airlines recovered?nearly 50% of the increased fuel costs caused by the conflict during the second quarter, the outlook for their profits remains uncertain. The price of air travel is expected to remain high. JetBlue Airways reported that higher demand and higher fares allowed it to recover more fuel costs than anticipated, even though the New York-based carrier's quarterly fuel bills ballooned by?nearly 80%, or approximately $407 million. JetBlue's President Marty St. George stated during an earnings call that "nobody likes fare increases" but, at the end, we need to cover costs. As volatile fuel prices resulting from the war have moderated, the airline's visibility for?the second half of the year improved. Travel is the most resilient part of luxury. Adam Sebba is the CEO of The Luminaire, a luxury travel agency based in London.
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Two India-based GMR Group units eye aggregate $500 million debt, bankers say
Two merchant bankers who have a 'direct' knowledge of the plans confirmed the plan on Wednesday. The bankers declined to name themselves because they were not authorized to speak with the media. In August 2025 the company raised 15 billion rupees via an 18-month paper at a return of 10.35%, and 44 billion rupees via three-year papers with a rate of 10.50%. The bankers said that Delhi International Airport (DIAL), where GMR Airports has a 74% stake, also plans to raise 35 billion rupees through longer-duration papers of 15 years. These will have a call-option at the end the fifth year. DIAL and GMR Airports have not responded to emails seeking comments. One of the bankers quoted said, "DIAL raises rupee funds to pay its expensive dollar bond that is due to mature in Oct." DIAL issued dollar bonds in the amount of $523 million with a coupon rate of 6.1250%. They are due to mature by October 31. These bonds will be issued in a form of a STRPP (separately transferable redeemable principle part) and it would be the company's first issue for a period of?over one year. In September 2025 it raised 10 billion rupees via bonds maturing after 15 years. The redemption was staggered, starting at the end of the?sixth to maturity, and a coupon of 8.75%. The bankers said that the companies could complete their fundraising by the end of October. (1 dollar = 95.7000 Indian Rupees). (Reporting and editing by Nivedita Battacharjee; Reporting by Dharamraj Dhutia, Khushi malhotra)
Frontier Airlines forecasts third quarter profit higher than estimates due to strong demand and increased airfares following rival's departure
Frontier Airlines, a low-cost carrier, forecasted third-quarter earnings that were above Wall Street expectations on Wednesday. The airline attributed this to higher airfares as well as strong demand following the exit of its competitor Spirit. In premarket trading, the company's shares were up 2.4%. The uncertainty surrounding the Middle East war has made it difficult for airlines forecasting earnings and jet fuel prices, which make up roughly one-fourth of their operating costs. Frontier Airlines' exit from its closest rival Spirit Airlines allowed it to increase fares faster and limit the impact a ballooning fuel cost had on its margins. U.S. carrier has also cut costs by delaying deliveries of newer Airbus planes and prematurely returning older aircraft to lessors. Frontier Airlines, based in Denver, expects its third-quarter earnings to be between a loss of 10 cents and a profit of 10 cents, compared to analysts' expectations for a 29-cents loss.
Analysts expected a profit of 24 cents a share. It forecasted?for the fourth quarter between breakeven and?20 cents a share. The airline reported that revenue for the second quarter reached a record of $1.28 billion, "driven by a strong travel demand and favorable competitive capacity." In May, rival Spirit Airlines left the U.S.
In fact, unit revenue (a measure of pricing) grew by 28% compared to a year earlier, reaching 11.52 cents, but capacity only increased by 8%. The airline spent $4.17 per gallon in the quarter ended June 30, 77% more than the year before. Total fuel costs almost doubled to $436 millions.
Frontier posted a quarterly loss of 10 cents, which was lower than the 31-cent loss per share a year ago and higher than analysts' expectations for a 48-cent loss per share. Reporting by Nandan Mandyam, Bengaluru. Editing by Jonathan Ananda.
(source: Reuters)