Economy

United announces $1.5 bn share buyback as earnings top estimates
United announces $1.5 bn share buyback as earnings top estimates

United Airlines announced a $1.5 billion share buyback on Tuesday as its earnings for the third quarter topped analyst estimates. Alongside its earnings, United also announced a new $1.5 billion share repurchase program -- its first since the onset of the Covid-19 pandemic.

Turkish govt delays tax plan to fund defence industry
Turkish govt delays tax plan to fund defence industry

The Turkish government on Tuesday postponed until 2025 a parliamentary debate on a proposed tax on credit cards, which it sought to fund the arms industry as conflict rages in its neighbourhood. The bill stipulated that people with a credit card limit of at least 100,000 liras (nearly $3,000) would have to pay an annual 750 lira ($22) in tax from January to bolster the defence industry.

Trump says 'obnoxious' tariffs will bring factories to US
Trump says 'obnoxious' tariffs will bring factories to US

US Republican candidate Donald Trump on Tuesday said that companies will drop plans to build factories overseas when faced with the threat of high tariffs on shipping goods to the United States. "The higher the tariff, the more likely it is that the company will come into the United States," the former president Trump told an audience at the Economic Club of Chicago.

Russia, China step up cybercriminal recruitment, warns Microsoft
Russia, China step up cybercriminal recruitment, warns Microsoft

Russia, China and North Korea are becoming more aggressive and sophisticated in their recruitment of cybercriminals to steal money, gain intelligence and sway elections, Microsoft said in a threat report released Tuesday. Observations during the past year affirm a "convergence" of governments and cybercriminals, according to the report, which cited activity by China, Russia, Iran, and North Korea.

Boeing to raise up to $25 bn as strike weighs on finances
Boeing to raise up to $25 bn as strike weighs on finances

US aircraft manufacturer Boeing unveiled measures meant to replenish its cash flow Tuesday, including an intention to raise up to $25 billion, as it navigates recurrent production problems and a major US strike. The direct financial impact of the first month of the strike cost Boeing more than $3 billion, according to Anderson Economic Group.

Boeing announces intention to raise up to $25 bn
Boeing announces intention to raise up to $25 bn

US aircraft manufacturer Boeing on Tuesday unveiled measures meant to replenish its cash flow, including its intention to raise up to $25 billion, as it navigates recurrent production problems and a major US strike. The direct financial impact of the first month of the strike cost Boeing more than $3 billion, according to Anderson Economic Group.