Hundreds of flights have been cancelled after public-sector workers walked off the jobs at airports in Frankfurt, Munich, Duesseldorf and several other German cities in a strike for higher wages. Germany?s largest airline Lufthansa alone said it was cancelling 600 flights Thursday, from primarily within Europe, as a result of the strike. The Ver.di union says it is holding the one-day warning strike to pressure employers ahead of a third round of negotiations for some 2.1 million federal and municipal employees. The union is pushing for a 100 euro ($138) one-off payment and a 3.5% wage increase and says they have not yet received a counteroffer. Ver.di says the strikes, also at Hamburg, Cologne, Stuttgart and Hannover airports, affect ground services and maintenance.
Japan?s ANA gives Boeing a boost with 777X order
ANA Holdings restored Boeing?s momentum in a Japanese market it has long dominated by ordering 20 new generation 777X wide-body jets after a stinging defection by Japan Airlines last year to rival Airbus Group. Japan?s largest carrier announced an order for 70 jets worth 1.7 trillion yen ($16.62 billion) at list prices and its biggest order ever, to replace aging planes while expanding its overseas fleet by 30 aircraft. Nearly half the list value was for the 20 777-9X wide-body jets. The order was closely watched as the dynamics in Japan?s aircraft market, strongly influenced by US-Japan relations, shifted after a bailout of Japan Airlines under a previous government now in opposition.
China to strengthen web security on US spy report
China will beef up its internet security in response to recent reports that the US government spied on a major telecommunications firm, China?s defence ministry said on Thursday. Reports that the US National Security Agency infiltrated servers at the headquarters of Huawei Technologies ?lay bare the United States? hypocrisy and despotic rule,? ministry spokesman Geng Yansheng told a briefing. The ministry did not say what steps would be taken to strengthen internet security. The White House has said that the US does not spy to gain commercial advantage. Cyber-espionage has cast a shadow over China-US ties, with each side accusing the other of spying.
UK regulator warns seventh Libor trader
Britain?s financial regulator has issued a warning notice to another two traders for ?significant failings? over a period of around two years, as part of an investigation into manipulation of benchmark interest rates. The Financial Conduct Authority (FCA), which had sent warning notices to five other traders, did not name the latest two. But it said one was a manager and trader at a bank. The individual facilitated others? attempts to manipulate benchmark submissions and was aware of the inadequacy of the bank?s systems, controls or policies governing the procedure for making interest rate benchmark submissions, but took no steps to address this, the FCA said on Thursday.
Putin warns West against curbing payment systems
President Vladimir Putin warned the West on Thursday that curbing Russians? use of payment systems based in the United States and Europe would backfire by causing companies involved to lose money and market share. Visa and MasterCard last week stopped providing services for payment transactions for clients at Bank Rossiya, which has been hit by US sanctions over Russia?s annexation of Crimea, as well as some other banks. Services were later resumed for m ost of the banks. ?It is really too bad that certain companies have decided on … restrictions,? Putin told senior Russian lawmakers. ?I think this will simply cause them to lose certain segments of the market ? a very profitable market.?
