Huawei CEO Ren Zhengfei laid out plans to bring more efficiencies to the organization. This included simplifying the reporting structure, cutting down on surplus staff, axing...Technologyread more
The bond market has entered a financial twilight zone, and at this point, there doesn't seem to be a smooth way out.Market Insiderread more
China has used both monetary and fiscal measures to lift economic activity as its trade war with the U.S. looks set to intensify in the coming months.China Economyread more
President Donald Trump said on Twitter he was postponing a scheduled meeting with Denmark's prime minister because of her lack of interest in discussing a possible sale of...World Politicsread more
"I think (rate cuts) will help, but whether they're going to be sufficient to counter the negative trade pressures and global growth slowdown and impact is debatable," one...Central Banksread more
Chinese overseas investment growth will likely slow or even decline in the next few years as risks around the world increase, according to new research by Moody's Investors...China Economyread more
The two countries want to smash the civil aerospace duopoly enjoyed by Airbus and Boeing.Aerospace & Defenseread more
Alibaba held a board meeting before its latest quarterly earnings release last week, during which the board decided to postpone the Hong Kong listing, Reuters reported.Technologyread more
Federal Reserve Chairman Jerome Powell is set to deliver his annual speech on Friday at the Jackson Hole, Wyoming symposium, where he's expected to provide more clarity on the...Asia Marketsread more
U.S. and Asian investors poured $3.7 billion into U.K. tech start-ups in the first seven months of 2019, research shows.Technologyread more
After Elon Musk touts Tesla solar on Twitter, Walmart sues the electric vehicle and clean energy company over store rooftop panels that ignited.Technologyread more
The chief executive of Qatar Airways has continued his war of words with rival U.S. carriers.
Akbar Al Baker told CNBC Tuesday that those allegations were a smokescreen.
Speaking at the CAPA aviation conference in Singapore, he said: "The allegations they are making against us are nothing more than just to protect their own companies from the unions who now want, legitimately, for their members to get better pay because of the record profits that they are making."
Members of the Transport Workers Union have been protesting outside the Fort Worth, Texas, headquarters of American Airlines. The union said it was attempting to negotiate a new contract deal and prevent the airline from outsourcing work to cheaper foreign workers.
Al Baker said U.S. carriers should better look after their staff and consider following the Qatar Airways model of pay.
"You know when my staff make the airline get profit, they get a share of the profit and the same should be done by these three American carriers who are making record profits in the history of aviation," Al Baker said.
To help improve margins, the U.S. airlines have been lobbying Washington to restrict the flight rights of their Middle Eastern rivals to the United States.
Against this backdrop, it was perhaps unsurprising that a Qatari bid to buy 10 percent of American Airlines was rejected. Al Baker said the intent of the deal was misunderstood.
"From day one, Doug Parker (American Airlines CEO) didn't want us. He put a lot of pressure on the administration to not allow us to take a stake. You know we are there as a strategic investor. We are not there to influence him," Al Baker said.
The Qatar Airways CEO added that he personally told Parker that the investment could proceed while the rift over alleged subsidies continued.
Following the collapse of the American Airlines proposal, Qatar Airways has now agreed to buy a near 10 percent stake in the Hong Kong airline Cathay Pacific for $661 million.
The move is viewed as a strategic toe-hold in the growing Chinese market.
Qatar Airways already owns 20 percent of International Consolidated Airlines Group, the parent of British Airways, as well as 10 percent of South America's LATAM Airlines Group and 49 percent of Italy's Meridiana.
In response, American Airlines said the average annual pay of its staff had increased by 43 percent since the merger with US Airways in 2013.
CNBC also contacted Delta Air Lines and United Airlines for this article but had not received a response at the time of publication.