The International Air Transport Association (IATA) estimated that the Icelandic volcano crisis cost airlines more than 1.7 billion US dollars in lost revenue through Tuesday—six days after the initial eruption. For a three-day period (17-19 April), when disruptions were greatest, lost revenues reached 400 million USD per day.
Goldman Sachs Group Inc said first-quarter earnings nearly doubled, while in London Britain's financial regulator launched a formal probe related to civil fraud allegations against the Wall Street bank.
Delegates are gathering in the Bolivian city of Cochabamba for a grassroots alternative to last year's UN climate change summit in Copenhagen. The meeting will also celebrate the rights of Mother Earth on 22 April.
The United Nations Food and Agricultural Organization (FAO) are convening an international meeting on trade in fish and seafood to be hosted by in the Argentine government Buenos Aires 26-30 April.
Prospects for the UK's economic recovery remain poor this year with output growth of 1% or less predicted in 2010, a leading forecaster has warned. It also suggested that although consumer spending is on the rise, it will remain too weak to sustain a recovery this year as consumers try to pay off debts as quickly as possible.
The International Air Transport Association (IATA) sharply criticized Monday Euroepan governments for their lack of leadership in handling airspace restrictions in light of the Icelandic volcano eruption and urged a re-think of the decision-making process.
The International Monetary Fund has warned that an over reliance on capital controls could derail the current global recovery. Although admitting that it may be a good idea for one country to apply controls on capital inflow, as the levy imposed by Brazil, “it could encourage too many others in the region to follow suit”.
Millions of passengers have been stranded in Europe as air traffic controllers cancelled 16.000 flights Friday after a huge ash cloud spread from an Icelandic volcano covering much of the northern continent.
Nick Clegg, a rank outsider to become Britain's next prime minister, upstaged the two main candidates in an unprecedented televised debate on Thursday, according to snap polls of viewers.
Flights across much of Europe are being cancelled on a second day of massive disruption caused by drifting ash ejected from a volcano in Iceland. Hundreds of thousands of passengers are affected and severe disruption could extend into the weekend, including on flights to North America and Asia.