British Airways CEO Willie Walsh told CNBC the airline's planned merger with Iberia is a necessary step in the face of major changes in consumer spending. "People need to realize, this is an industry that is under severe stress," Walsh said.
We are well supplied in the oil market, with inventories at record levels globally, Rex Tillerson, chairman and CEO of Exxonmobil, said Friday. "The market continues to be a bit soft," he added.
John Key, Prime Minister of New Zealand, tells CNBC he's concerned about the strength of the New Zealand dollar and wants to see a correction there. He speaks to CNBC's Martin Soong in a First on CNBC interview.
The biggest threat to free trade is the deterioration of the jobs market -- where unemployment is raising, then inevitably protectionist functions appear, says WTO's director-general, Pascal Lamy. He tells CNBC's Sri Jegarajah more.