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
Airline fuel efficiency on transatlantic flights has improved by one percent a year since 2014 as carriers modernized their fleets, but the industry still lags its own climate goals, a study released on Wednesday said.
The industry's average fuel efficiency improved to 34 passenger kilometers per liter of fuel from 33 between 2014 and 2017 as carriers opted for modern aircraft with lower fuel burn and operated fuller planes, the study from the U.S.-based International Council on Clean Transportation (ICCT) said.
Airlines have been switching to more fuel-efficient planes to mitigate the impact of high oil prices on their margins.
The aviation industry has also set a non-binding goal of capping emissions from international flights at 2020 levels, despite rising passenger traffic as demand for global travel climbs.
According to the study, budget carrier Norwegian Air Shuttle ASA, was ranked first of 20 transatlantic carriers for fuel efficiency, while British Airways, part of the International Airlines Group, came in last.
British Airways on Wednesday said its fuel efficiency per passenger "appears lower," because on such routes the carrier has a "greater share of the premium market," which has fewer seats.
"We are well on course to deliver a 25 per cent improvement in carbon emissions reduction by 2025," the carrier said in an emailed statement.
In 2010, the Montreal-based International Civil Aviation Organization (ICAO) set a goal of 2 percent annual fuel efficiency improvement through 2050 for all international flights.
Airline trade group International Air Transport Association (IATA) expects an average improvement in fuel efficiency of 1.5 percent per year on all international flights from 2009 to 2020.
While the study only looked at transatlantic flights, the ICCT said airlines will have to become more efficient to meet industry goals.
"New policies to accelerate investments in more fuel-efficient aircraft and operations are critical if industry is to meet its long-term climate goals," said Dan Rutherford, aviation program director for the U.S.-based independent non-profit research organization.
The study compared the fuel efficiency of nonstop passenger flights between North America and Europe by 20 major airlines, following a similar study conducted in 2014.
Starting Jan. 1, 2019, most airlines flying international routes will begin monitoring their fuel and carbon emissions as part of a landmark agreement brokered two years ago by the ICAO.
According to industry figures, air transport accounts for 2 percent of global man-made carbon emissions.