Moscow blocks EU flights
The Russian government has reportedly stopped European airlines from entering Russian airspace if their flight path avoids Belarus. Air France and Austrian Airlines both had to cancel flights to and from Moscow. Several European carriers are avoiding Belarussian airspace after Minsk forced a Ryanair jet to land in order to arrest a journalist and his girlfriend on board the flight. Sources: BBC, Bloomberg, DW, Financial Times and The Guardian.
World aviation body to examine Belarus incident
The UN’s International Civil Aviation Organization will open an investigation into the “hijacking” of the Ryanair flight forced to land in Minsk. Sources: AFP, The Guardian and Reuters.
Bomb threat emailed following diversion
The bomb threat which the Belarussian government said justified forcing the Ryanair flight to land, and which Minsk said was emailed from the terrorist group Hamas, was sent after air traffic controllers diverted the plane, according to a Swiss email provider. Sources: Reuters, RFE/RL, UPI and Washington Post.
Airbus expects production boost
Airbus reportedly told suppliers to prepare for a big increase in output of its best selling aircraft, particularly its short-haul A320 model, starting this autumn. Sources: BBC, Bloomberg, Financial Times and The Guardian.
Air travel to rebound by 2023, says trade group
The International Air Transport Association forecast that global air passenger numbers would reach 52% of pre-crisis levels by the end of the year, and surpass pre-covid numbers by 5% in 2023. Sources: AFP and Straits Times.
HSBC exiting US retail market, pivoting to Asia
HSBC said it would sell most of its US branch network and retail customer base, and focus on wealth management clients in the country. The banking group makes the bulk of its profits in Asia. Sources: CNBC, Financial Times and Reuters and South China Morning Post.
Iceland to privatise Islandsbanki
Reykjavík will sell shares in Islandsbanki, the state-owned bank formed after the 2008 financial crisis flattened Iceland’s banking sector. Sources: Financial Times, MBL.is and Reuters.
Bâloise’s Lux revenue up, earnings down, in 2020
Bâloise Vie Luxembourg posted a 13.2% gain in turnover last year, but profits at the insurer were down by roughly 60%. Source: Paperjam.
Onelife revenue down, earnings up, in 2021
Luxembourg-based Onelife, a French-owned insurer focused on the wealth management market, posted slightly lower turnover last year, but slightly better margins. Source: Paperjam.
Julius Baer agrees to Fifa corruption settlement
The Swiss banking group Julies Baer will pay $79.7m to settle a US investigation into its role in bribes paid to officials at the world football association Fifa. Sources: Bloomberg, CNBC and Reuters.
Airbnb extends party ban
Airbnb will continue prohibiting parties on properties rented through its site “through at least the end of Summer 2021” to help combat the pandemic. Sources: BBC, The Hill, Reuters and The Verge.
Twitter concerned for its staff after Indian police visit
Twitter called a visit by Delhi police to its offices a form of intimidation and said it needed more time to comply with India’s new digital content law. Sources: BBC, Bloomberg, CNBC and Times of India.
Macron asks for Rwandan “forgiveness”
The French president, Emmanuel Macron, recognised France’s “responsibility” in the 1994 Rwanda genocide. The Rwandan president, Paul Kagame, said Macron’s speech was “more valuable than an apology.” Sources: CNN, DW, France 24 and Reuters.
Barcelona jihadists sentenced
Three men have been convicted of carrying out the 2017 terrorist attacks in Catalonia. Sources: AFP, BBC, The Guardian and Reuters.
Assad reelected
Bashar al-Assad won a fourth term as president of Syria, winning 95.1% of the vote. The opposition said the poll was “neither free nor fair”. Sources: AFP, NHK, Reuters and Sky News.
Brits getting ‘votes for life’
The UK government outlined details of its (previously announced) plan to lift the ban on British expats voting in general elections after 15 years abroad. Citizens will be able to vote via absentee ballot. Sources: AFP, Delano, Express and International Investment.
Biden to present record-breaking budget plans
Joe Biden is expected to outline $6trn in federal spending later today, which would make it the biggest US budget in history. Sources: Bloomberg, CNBC, Financial Times and New York Times.
Berlin and Paris push Biden’s multinational tax plan
The French and German finance ministers said they expect an international agreement on minimum corporate tax rates--probably 15%--could be reached within weeks. The plan, first floated by Washington, could be endorsed by the G7 during next week’s summit. Sources: Irish Independent, Reuters, RFI and Sky News.
More than half of Europeans support AI parliamentarians
A study out of IE University, in Spain, found that 51% of Europeans would agree to replace MPs with an artificial intelligence system. Support was highest in Spain (66% in favour), Italy (59%) and Estonia (56%). It was lowest in the UK (31% in favour), the Netherlands (44%) and Germany (46%). Outside of Europe, respondents in China (75%) were most keen, while those in the US (40%) were least. Sources: CNBC, Daily Star and The Next Web.
Researchers reckon they have blood clot solution
German scientists claimed to have found the cause of rare blood clots linked with the Oxford/AstraZeneca and Johnson & Johnson covid-19 jabs, and how to refine the vaccines to prevent the adverse reaction. Source: Financial Times, The Guardian, The Week and Washington Post.
Latest Luxembourg covid-19 update
Out of 9,699 PCR tests conducted on 26 May, 80 Luxembourg residents were positive for covid-19. That is a rate of 12.60 new cases per 100,000 inhabitants (compared to 10.56 on 19 May). The reproduction rate was 0.60, well below the target threshold of 1.00 (compared to 0.83). There were 32 covid-19 patients in hospital (compared to 51), including 15 in intensive care (compared to 18). One person died due to the coronavirus on Wednesday, bringing the national total to 813. A cumulative 329,390 vaccine jabs have been administered, including to 116,725 people who have received all required doses. Source: Health ministry. More: Delano.
Super League concept “is still alive” says Spanish exec
The president of La Liga, which runs Spain’s two top football divisions, said the Super League is not dead. Sources: Daily Mail, ESPN and Financial Times.
Oscars postponed for second year
The 94th Academy Awards have been delayed by a month and will now be held on 27 March 2022, in Hollywood. Sources: AFP, CNBC, Los Angeles Times and Variety.
Today’s breakfast briefing was written by Aaron Grunwald