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North America
CNBC Finance

American Airlines adds batch of new international routes on its XLR planes

American Airlines announced Thursday it will add seven international routes to its 2027 schedule, with many of those on its Airbus A321XLR planes. The carrier is also adding a fourth daily flight between JFK and London Heathrow Airport, on a Boeing 787-9, starting March 28. The Airbus XLR, which stands for extra long range, has the ability to go up to 4,700 nautical miles. The single-aisle planes are smaller than others in the airline's fleet, like a Boeing 777 or Boeing 787 Dreamliner, which makes them cheaper to operate. The airline rolled out a new interior and configuration with its inaugural XLR flight last year. It's allocated more space to premium seats — which take up a fifth of the plane — than it has on its other aircraft. American's plan is to use the XLRs to focus on routes to smaller European cities from its Philadelphia hub or from New York City. "It really opens up the menu for all these destinations that are just too small for a widebody," American's senior vice president of network and schedule planning, Brian Znotins, told CNBC last year. The airline said its Vienna route will extend through early January 2028 to draw tourists who are aiming to visit European Christmas markets. That follows a growing trend, as airlines have been adding more capacity in the shoulder seasons and even in the off-peak winter period as travelers opt to fly in the fall and other cooler, cheaper times of the year. American's announcement comes the same week that United Airlines unveiled its 2027 destinations. United is adding routes to less traditionally popular tourist destinations for U.S. travelers, spanning Ljubljana, Slovenia, to Okinawa, Japan. American has been trying to close a profit gap with rivals United and Delta Air Lines and said earlier this year that its flying is split about 80% domestic versus 20% international. International flights often carry a high premium compared with domestic routes — and the planes serving them generally have more luxurious seats on board, which can be more profitable for airlines. Get this delivered to your inbox, and more info about our products and services. Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes, and Market Data and Analysis.

American Airlines adds batch of new international routes on its XLR planes
Asia
The Hindu BusinessLine

US wants India ‘by our side’ as NASA returns to the Moon, says envoy

US Ambassador to India Sergio Gor said that Washington wants India “by our side” as the United States returns to the Moon, revealing that NASA has officially invited ISRO to join its Moon base programme. “India is a proud signatory of the Artemis Accords, and NASA has officially invited ISRO to join us in the Moon base program. Make no mistake: we’re going back to the Moon, and we want India by our side on the lunar surface,” Gor said while speaking at the Bengaluru Space Expo 2026. His remarks come as under Artemis missions, NASA will send astronauts on increasingly difficult missions to explore more of the Moon for scientific discovery, economic benefits, and to build on foundation for the first crewed missions to Mars. Highlighting the India-US collaboration in space, Gor said the NISAR mission demonstrated how joint technology could directly contribute to saving lives. “And when we look at NISAR, we see that NASA and ISRO didn’t build a monument to scientific theory; they built a lifesaver. Literally,” he said. “When a devastating earthquake struck Venezuela just two months ago, NISAR’s radar data penetrated dense cloud cover and dust to guide emergency responders directly to ground zero. That is an example of what great things can happen when we work together. That is joint technology saving human lives in real time,” he added. Gor also highlighted India’s growing role in human spaceflight, citing Group Captain Shubhanshu Shukla’s mission to the International Space Station and the subsequent cooperation between the two countries. “Last year, Group Captain Shukla flew to the International Space Station, a landmark moment for India, made possible through American partnership,” Gor said. “Following the Axiom-4 mission and five joint science investigations, we are now looking at docking standards, interoperability, and astronaut training. TRUST creates capability. Capability creates ambition. And ambition takes us beyond the stratosphere,” he added. The US envoy also pitched greater opportunities for Indian space startups in the American market, highlighting companies including Pixxel, GalaxEye, Digantara, Bellatrix, Skyroot and Agnikul. “To every Indian space entrepreneur in this room: the American market is open to you. Our investors are watching you. Our ecosystems welcome you. We are here to help you make that leap,” Gor said. On broader cooperation in space governance, Gor said Washington and New Delhi were working together to establish global norms.

US wants India ‘by our side’ as NASA returns to the Moon, says envoy
Asia
The Hindu BusinessLine

Global basmati market shifting towards premium quality, says SSIEL MD Aman Gupta

The global basmati market is moving towards premium quality, with consumers and buyers increasingly focused on origin, grain quality, traceability, food safety and authenticity, says SSIEL Managing Director Aman Gupta. The global basmati market is moving towards premium quality as consumers are no longer viewing fragrant rice simply as a staple, according to Aman Gupta, Managing Director, SSIEL (Shiv Shakti Interglobe Exports Pvt Ltd). “They are becoming more conscious of the variety, origin, grain quality, aroma, ageing and cooking characteristics. Along with these factors, the reputation and credibility of the manufacturer are becoming equally important, said Gupta, whose firm is present in over 72 countries, told businessline. India holds a strong position globally as Basmati is intrinsically associated with the country. The next opportunity would be to strengthen the position through branding, quality assurance, traceability and greater consumer awareness, he said. “We need to tell the story of Indian Basmati better—its geographical origin, heritage, unique aroma and grain characteristics, “ said Gupta, who is the third generation in the family to continue with the rice business. Retailers and food companies across the world are keen on traceability, consistency, food safety, pesticide residue and quality in Indian basmati rice. Buyers in developed markets, in particular, expect suppliers to meet the stringent food safety standards. “Another trend we see is the growth of private-label and packaged rice. This gives Indian exporters an opportunity to move higher up the value chain rather than competing purely on price,” he said. SSIEL, which has been in the rice business for nearly 6 decades, looks at compliance across the entire value chain rather than treating it as a final-stage exercise. In the domestic market, Gupta believes there is significant scope to raise awareness of authentic Basmati. “We can take it beyond traditional consumption occasions and highlight its versatility through modern retail, e-commerce, foodservice and ready-to-cook formats,” he said. India has a middle-class population of around 430 million, which represents a significant consumer base with strong purchasing power. “This is larger than the entire population of the US and is an important contributor to India’s economic growth. As this segment continues to expand, it is likely to play an important role in driving demand for premium products, including high-quality and authentic Basmati rice,” said the managing director of SSIEL, which has a presence in all five continents. On GI protection for basmati, he said India needs a stronger, more coordinated approach in overseas markets. Basmati has a unique geographical identity, and protecting that identity internationally is important for both farmers and exporters, he said. “We need greater awareness among international consumers and regulators, registration and enforcement in priority markets, and stronger coordination between the government, industry bodies and exporters to protect the authenticity of Indian Basmati,” said Gupta.

Global basmati market shifting towards premium quality, says SSIEL MD Aman Gupta
Asia
The Hindu BusinessLine

Swiggy launches helpline, in-app channel to address food safety complaints

Swiggy on Monday said it is strengthening customer support reinforcing its commitment to food safety. The company said it has rolled out a dedicated 24x7 helpline for customers to report any food safety related concerns. In addition, it has also introduced a dedicated ‘Food Safety’ channel within its in-app help section. This comes at a time when the Food Safety and Standards Authority of India (FSSAI) has been intensifying its crackdown on various food business operators, including food aggregators and quick commerce platforms. Sidharth Bhakoo, Chief Business Officer, Swiggy Food Marketplace said, “While we continue to work closely with our restaurant partners on food safety, we are also further strengthening the ways in which customers can raise any concerns they may have. Customer feedback has always been an important part of how we work, and these additional touch points will further help us in identifying and addressing any gaps, wherever they may arise.” The dedicated helpline and channel on the app will serve as an intelligence tool for Swiggy, helping it identify repeated concerns, detect patterns, engage restaurant partners and strengthen preventive measures across the platform. “Swiggy continues to work with the restaurant partners to encourage the use of high-quality ingredients and ensure that the same is accurately reflected in the menu descriptions. The company also periodically educates its partners on hygiene practices and food safety standards,” it added. Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments. We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.

Swiggy launches helpline, in-app channel to address food safety complaints
North America
CNBC Finance

Best Buy tops quarterly estimates, raises outlook as computing shows strength

Best Buy on Thursday reported better-than-expected fiscal second-quarter results and raised its full-year outlook as the company's recovery showed more signs of taking hold. The consumer electronics retailer said it saw comparable sales growth of 4.1% during the second quarter, compared to its previous outlook of just 1%, and saw a "higher-than-expected" adjusted operating income rate. Best Buy said it drove growth across all of its major categories, with a surge in computing contributing to that strength. Best Buy also raised its full fiscal year financial guidance due to what incoming CEO Jason Bonfig called its "strong first half performance." The company now expects revenue of between $42.3 billion and $42.8 billion, compared to prior guidance of a range between $41.2 billion to $42.1 billion. It also anticipates comparable sales will climb 1.9% to 3%, compared to prior expectations of between a decline of 1% and increase of 1%. Best Buy said it now expects adjusted earnings per share for the year to be between $6.70 and $6.90, compared to prior guidance of between $6.30 and $6.60 per share. The company also said its gross profit rate for the quarter included a $34 million benefit from tariff refunds. For the quarter ended Aug. 1, Best Buy reported net income of $315 million, or $1.48 per share, compared with $186 million, or 87 cents per share, the year prior. Adjusting for one-time items, Best Buy reported adjusted earnings of $1.47 per share. The earnings marked the last quarter of reporting under current CEO Corie Barry. Bonfig will take over the reins of the company on Nov. 1, a leadership change that was part of a broader strategy to accelerate Best Buy's business. "The strength of our Q2 results reflects both the deliberate actions we have taken to position the business for growth and a healthy demand environment for our category," Bonfig said in a statement. The company reiterated that customers continue to spend, though they are still focused on value and sales. The consumer electronics retailer has also been hit by tariffs and the soaring price of memory chips. Best Buy said on Thursday that it's continuing to navigate those industry-wide challenges and sees customers shopping with specific needs and budgets. Best Buy has been in a sales slump after it reported declining foot traffic and lower consumer confidence in recent quarters. Bonfig previously told CNBC he's confident in his abilities to refresh the company and its products and enhance the customer experience. Part of that strategy has been opening smaller format stores in an effort to expand Best Buy's presence in areas that can't sustain a full-sized location. Bonfig also said he plans to leverage artificial intelligence to improve the store experience and corporate processes.

Best Buy tops quarterly estimates, raises outlook as computing shows strength
Europe
The Guardian

‘Revenge of the Rust belt’: Starbucks film-maker on Baristas vs Billionaires

Director Mark Mori attends a Baristas vs Billionaires special gathering on 19 November 2025 in New York City. Photograph: Johnny Nunez/WireImageView image in fullscreenDirector Mark Mori attends a Baristas vs Billionaires special gathering on 19 November 2025 in New York City. Photograph: Johnny Nunez/WireImageStarbucks‘Revenge of the Rust belt’: Starbucks film-maker on Baristas vs BillionairesDirector Mark Mori followed coffee chain workers’ struggle to unionize: ‘These young kids are so inspirational’ As the food service industry was pushed on to the frontlines of the Covid-19 pandemic in 2021, workers at Starbucks stores in the Buffalo region of New York went public to announce their union-organizing campaign. Their efforts, and Starbucks’ responses, have culminated in one of the most expansive union-organizing campaigns – and one of the most aggressive union-busting campaigns – in modern US history. In the new documentary film Baristas vs Billionaires, Starbucks workers in Buffalo recount their experiences with the billionaire Howard Schultz descending on the city to attempt to quell the unionization efforts. Narrated by the actor Susan Sarandon, with Alec Baldwin serving as a contributing producer, the film was directed and written by Mark Mori, who received an Academy Award nomination in 1991 for the documentary Building Bombs and received an Emmy award for a 2001 documentary on the Kent State shootings. View image in fullscreenA protest at Starbucks. Photograph: Courtesy of Barista vs Billionaires“Even though the Starbucks workers’ fight for a living wage was so public, I had no idea of the twists and turns and heartbreak connected to their struggle,” said Sarandon. In an interview with the Guardian, Mori said his former background as a steelworker and a union member with the United Steelworkers – and in political activism – had informed his decision to take on the project. He began reading about the union drive at Starbucks and spoke with a friend who would shoot the film for him. “We just went out and started interviewing baristas,” Mori said. “To me, I looked at it as the beginning of a long upsurge in the labor movement. I looked at this as we were in the 1930s, the 21st-century version of that.” Mori sees the Starbucks union-organizing drive as a counter to the drastic decline of the manufacturing industry in the US midwest in recent decades that has decimated the working class. “I call it the revenge of the Rust belt. Many of these kids are the children or grandchildren of the steelworkers from Bethlehem Steel in Buffalo, the grain silos in Buffalo, all of these factories across the Rust belt that were shut down. Their parents and grandparents lost their pensions, lost their homes, and these kids don’t see any future,” said Mori. View image in fullscreenMark Mori with Alec Baldwin at a fall 2025 screening event. Photograph: Isiah Babilonia/Courtesy of Barista vs Billionaires“These young kids are so inspirational, and they’re showing one way to deal with what’s going on, and there are many other ways. But the real number one thing about this is these young people taking matters into their own hands and inspiring other people to stand up against these billionaires.” He explained the Starbucks workers who led the union-organizing drive reminded him of Vietnam war activists in the 1960s and 70s.

‘Revenge of the Rust belt’: Starbucks film-maker on Baristas vs Billionaires
North America
CNBC Economy

'They asked too much': Canadian dollar slides as Ottawa and Washington head for all-out trade war

The Canadian dollar fell on Monday morning after trade talks between Ottawa and Washington fell apart, leaving both sides facing higher prices on a wide array of imported goods and threatening Canada's economic growth. The U.S. on Saturday slapped 50% tariffs on around $20 billion worth of imports from Canada, its second-biggest trading partner after Mexico. The affected goods span dairy, wine, wood products, furniture, cement, ceramics and a slew of other areas. Canadian Prime Minister Mark Carney said he would retaliate "dollar for dollar" with tariffs starting Sept. 8, targeting sectors such as steel, dairy, agricultural equipment, paper and electronics. Details will be released "in the coming days," Carney added. The Canadian dollar was 0.55% lower against the U.S. dollar at 7:30 a.m. ET. The loonie also dipped against the euro, British pound and Japanese yen. "As a smaller, more open economy, Canada has more to lose from this, but Prime Minister Mark Carney seems to have opened the door to more fiscal stimulus to support affected business," FX strategists at bank ING wrote in a Monday note. Bradley Saunders, North America economist at Capital Economics, told CNBC that Canada faced a bigger impact to its economy from the duties than the U.S. did. "The high levy rate means the most exposed industries could be crippled," Saunders said by email, highlighting that there is no longer an exemption for goods that comply with production rules set out in the United States-Mexico-Canada Agreement (USMCA) — a trilateral deal that is currently under renegotiation — as there has been in previous rounds of tariffs since U.S. President Donald Trump's "Liberation Day" in April 2025. Though the targeted goods only comprise around 0.6% of Canada's gross domestic product, "a collapse in exports would still be enough to push already-weak GDP growth back towards zero," he said. "This would especially be the case if weaker US demand for finished items such as furniture and electrical equipment had knock-on effects on upstream primary industries, which are already struggling under the strain of Section 232 tariffs." The situation could escalate further if Trump retaliates to Canada's countermeasures, Saunders added, estimating that extending the 50% tariffs to 20% of Canada's U.S. goods exports, from 5% previously, could knock around 2% from Canadian GDP and push it into recession territory. Negotiators had been scrambling to strike a deal all week, with officials suggesting one was close. But rhetoric turned sour by the weekend, with each side blaming the other for failing to reach an agreement and of unfair trade practices. The U.S. and Canada export tens of billions in agricultural products to one another each year, while their auto industries are deeply entwined. The U.S.'s $48.3 billion trade deficit with Canada is in large part due to its significant imports of Canadian natural gas, electricity and crude oil.

'They asked too much': Canadian dollar slides as Ottawa and Washington head for all-out trade war
North America
CNBC Economy

Bessent could tap near $1 trillion Treasury General Account to fund bond buybacks, sources said

The Treasury could use its near $1 trillion General Account to help fund its recently announced plans to increase purchases of government bonds, according to two senior Treasury officials. Using the TGA would provide the Treasury with considerable firepower to influence long-term bond yields. The Treasury surprised markets last week with an announcement that it would be doubling the size of buybacks of off-the-run securities on the long end from $2 billion to at least $4 billion. Treasury Secretary Scott Bessent said on CNBC such operations could be even larger than the new higher minimum. However, Treasury made no mention of how it would fund the purchases. Most market participants assumed it would do so by selling short-term bills. The senior Treasury officials did not rule that out. Bessent in the CNBC interview called the operation a "Treasury Twist," a reference to a government or Federal Reserve operation where long-term treasuries are bought and paid for with short-term issuance. That also implied that short-term bonds would be sold. But since the surprise announcement, bonds have retreated from an initial rally, sending yields higher, in part because of skepticism voiced by many market analysts about how effective the operation would be and whether the Treasury's resources were too limited. Using the TGA could change that perception. The TGA is essentially the government's checking account, a rainy-day fund of sorts held at the Federal Reserve. It is already funded with existing tax collections. Bessent has built up the TGA to around $950 billion currently, compared with a stated goal under the Biden administration of around $550 to $600 billion. The officials would not say how much, if any, of the TGA would be used or when such an announcement could be made. There was no implication it could be used beyond the purchase of off-the-run securities that were the focus of last week's announcement. The TGA's size is discretionary. When Janet Yellen ran the Treasury, officials said the goal was to set the TGA at a "week ahead of cash needs." The current Treasury says it sets the account "consistent with Treasury's long-standing cash balance policy." Assuming any of it is used, and the Bessent Treasury wanted to maintain the near-$1 trillion level, additional bonds would have to be sold to build it back up. But running it somewhat lower would not appear to entail any immediate risk. Reducing the TGA would mean the government would have less cash on hand in the event of a new debt-ceiling impasse. But the latest estimates are that a new limit won't be hit until the winter of next year and perhaps not until the early spring. That would give time to build it back up if needed. Meanwhile, bond yields could be influenced by even a small use of the TGA or even just the recognition that the Treasury would use it to buy government bonds. It also would limit any concern, also voiced by some bond market participants, that the Fed could be asked to help the Treasury in such operations. (The Fed holds the TGA like a bank, but does not consider it part of its monetary policy toolkit.) The Treasury officials pushed back on criticism that the Treasury, in its surprise announcement, had abandoned its long-standing practice of being "regular and predictable" about bond sales and that it was gaming the market. The announcement of the enhanced buybacks came two weeks after the quarterly refunding announcement, when such information would normally be relayed to markets. But the senior officials said that no change had been made to the actual official auction schedules. They added that the announcement was made nearly three weeks before the first operation will take place on Sept. 9, giving markets time to prepare. The Treasury also announced the plan for the entire quarter in its Aug. 19 announcement. They added that since the first auction is not scheduled until Sept. 9, it was too early to judge the market impact.

Bessent could tap near $1 trillion Treasury General Account to fund bond buybacks, sources said
North America
CNBC Finance

FDA approves daily HIV pill from Gilead designed to simplify treatment for some patients

The Food and Drug Administration approved a once-daily HIV pill from Gilead that could help simplify care for some patients, the company announced Thursday. The drug, marketed as Bixlenvo, is aimed at patients whose virus is already under control but who remain on complicated treatment regimens. It could also appeal to those who simply want to switch to a new treatment alternative. The tablet combines bictegravir, the backbone of Gilead's blockbuster HIV pill Biktarvy, with lenacapavir, a first-in-class capsid inhibitor that has become a centerpiece of the company's long-term strategy for HIV treatment and prevention. The approval makes the new pill the first single-tablet regimen available for adults with HIV whose virus is suppressed but are unable to use currently available one-pill treatment options, according to Gilead. That population accounts for an estimated 5% or more of individuals in the U.S. living with HIV, the company told CNBC. The list price of the pill before discounts or rebates is $4,595 for a 30-day supply, which is in line with other daily single-tablet HIV treatments, Gilead told CNBC. People without health insurance may be eligible to get Bixlenvo for free through Gilead's patient assistance program, while those with commercial or private insurance may be able to receive co-pay support through another savings program, the company said. "It fulfills an unmet need, particularly for individuals who are on complex regimens who just would not otherwise consolidate down to something really meaningful for them and prescribers," Dr. Jared Baeten, Gilead's clinical development and virology therapeutic area head, said in an interview ahead of the approval. "But it's also meaningful for individuals who are seeking options for something new," he continued. "We want to build options that give people the opportunity to choose something that's going to work for them and work for them for the long haul." There is no cure for HIV or AIDS. But many people living with HIV can manage the disease by taking a single pill daily, a treatment plan that Gilead helped pioneer two decades ago. But some patients can't use any existing one-tablet options like Biktarvy and require more complex combinations of medicines because of drug resistance from older therapies, side effects or interactions with other drugs, among other treatment challenges. Those patients may have to take multiple pills a day and adhere to complicated dosing schedules. Baeten said that group tends to be older and have long treatment histories, saying "some had to take handfuls of pills around 25 years ago." HIV also accelerates complications of aging, such as heart disease, diabetes and high cholesterol, in that age group, he added. "It's incredibly meaningful to develop a medicine, in my perspective, for people aging with HIV," Baeten said. The new pill is also aimed at people who are doing well on a single-tablet regimen, including Biktarvy, and want to switch to a new one. Baeten stressed that Bixlenvo does not aim to replace Biktarvy.

FDA approves daily HIV pill from Gilead designed to simplify treatment for some patients