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Business live: Ryanair first-quarter profits more than double

Business live: Ryanair first-quarter profits more than double

Times5 days ago
Ryanair's net profit more than doubled in its April-June quarter, helped by the timing of Easter holidays and better-than-expected last-minute fares.
Europe's largest low-cost carrier reported a net profit of €820 million for its first quarter, up from €360 million in the same period last year when Easter was in March. Analysts had expected profits of €716 million.
Average fares rose 21 per cent from the same quarter last year, the company said.
Michael O'Leary, chief executive, said: 'We . . . cautiously expect to recover almost all of last year's 7% full-year fare decline, which should lead to reasonable net profit growth in FY26.'
Ryanair shares closed at €23.12 on Friday, down 7.5 per cent from a high of €24.98 on July 8.
Japan's ruling coalition lost control of the upper house in an election on Sunday, further weakening prime minister Shigeru Ishiba's grip on power.
Japan's prime minister, Shigeru Ishiba, is under intense pressure to resign after his ruling Liberal Democratic Party (LDP) lost control of the upper house of the Diet, in an election on Sunday that saw a dramatic surge by a far right anti-foreigner party.
Markets in Japan were closed for a holiday on Monday, but the yen strengthened slightly against the dollar, while Nikkei futures rose slightly as the election results appeared to be already priced in.
Japanese government bonds fell last week, sending yields on 30-year debt to an all-time high, while the yen slid to multi-month lows against the dollar and the euro.
Ishiba pledged to remain party leader as the country tries to get a tariff deal with. President Trump before the August 1 deadline.
The election saw a surge in support for a far right anti-foreigner party, Sanseito. It seeks to restrict the rights of foreigners under the slogan 'Japanese First' and second in the number of seats allocated by proportional representation, tying with the two main opposition parties.
• Read in full: Japan's PM under pressure after losing upper house majority
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Michael Flatley revealed as surprise contender to challenge Connor McGregor for Irish presidency after Lord of the Dance's political ambitions were inadvertently disclosed in High Court planning battle
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time42 minutes ago

  • Daily Mail​

Michael Flatley revealed as surprise contender to challenge Connor McGregor for Irish presidency after Lord of the Dance's political ambitions were inadvertently disclosed in High Court planning battle

Iconic Riverdance star Michael Flatley could challenge MMA champion Conor McGregor in a bid to become the next president of Ireland. The Lord of Dance's political ambitions were revealed during a High Court planning battle concerning his Castlehyde mansion in Cork. Flatley, 67, who held the Guinness World Record for tap dancing 35 times per second, notified the court of a 'material change in circumstances'. In doing so, he gave away his plan to move back to Ireland to run in the October 2025 presidential elections. An affidavit, signed by Flatley's solicitor Maxwell Mooney, was submitted to the court stating that the Irish-American is 'to seek nominations to run for president of Ireland'. But he's not the only celebrity running for president. In March, days after a controversial trip to the White House Conor McGregor, 37, announced his bid to become Ireland's President. The MMA fighter, who was found to have raped a woman in a civil case in November, announced his plans with an Instagram post which shows him standing in front of a private jet and wearing a Make Ireland Great Again cap. Riverdance star Michael Flatley (pictured) is to seek a nomination to become Ireland's next president It came after he spoke of an 'illegal immigration racket ravaging our country' at the White House. Meanwhile, last week on a radio interview, Flatley said he did not believe the Irish people 'have a voice, not a true proper deep voice that speaks their language.' But the face off may not happen as it is unclear if Flatley will have sufficient support and if McGregor will clear the threshold necessary to qualify for the race. Candidates need to be nominated by at least 20 members of the Irish parliament or at least four local authorities. They must also be an Irish citizen who is 35 or older. The role of president is mainly ceremonial but carries symbolic weight. The next election has to happen 60 days before the current President Michael D Higgins's term ends on November 11. So far, two candidates have secured sufficient backing to enter the race. McGregor announced the plans in an Instagram post where he is stood ahead of a private jet and wearing a Make Ireland Great Again cap Former farming journalist and EU commissioner Mairead McGuinness, who is the Fine Gael nominee. And Catherine Connolly, a left-wing independent and former Galway mayor who has received the backing of opposition parties and independents. At the High Court on Friday, defence barristers in Flatley's case argued against the affidavit being accepted by the court, and stated that it was an attempt by Flatley to 'move the goalposts'. Andrew Fitzpatrick SC said Flatley had said before in 2024 that he intended to move to Paris and then Valencia. 'That didn't happen,' he told the court. He also said that if the court was prepared to admit the affidavit, it would undermine previous assertions made by Flatley's side that the reason he is living in Monaco and cannot return to the state is because of the condition of the Castlehyde. Ms Justice Eileen Roberts said that as Flatley's residence 'is so central to the issue of security of costs' in the case, she would allow the affidavit to be taken into account, but said she 'entirely' heard submissions made by the defence about the characteristics of the affidavit and what weight it should be afforded. She said she expected the judgment in relation to the costs application to be delivered in a 'reasonably short period', and that it would be given 'shortly after' the end of the courts term.

Hotel or villa? There's only one winner on a grown-up Greek trip
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Hotel or villa? There's only one winner on a grown-up Greek trip

Choosing this year's holiday destination was simple. We all love Greece and we'd never been to Rhodes — job done. Picking accommodation that ticked all the boxes? Not quite so easy. This would be our first time away as a family since our boys became men — and the checklist somewhat differs from back in the day. For the first time I find myself checking if the pool area is Insta-worthy and how far it is to the nearest club. As three couples — my sons' girlfriends are joining us — we agree that we want somewhere we can spend family time together, but where we can also have our own space. Another key factor is location. None of us want to drive, so despite being beautiful, rural properties are off the table.

US lifts some Myanmar sanctions, says no link to general's letter to Trump
US lifts some Myanmar sanctions, says no link to general's letter to Trump

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US lifts some Myanmar sanctions, says no link to general's letter to Trump

WASHINGTON, July 24 (Reuters) - The United States has lifted sanctions designations on several allies of Myanmar's ruling generals that had been imposed under the former Biden administration. The U.S. Treasury Department announcement on Thursday came two weeks after the head of Myanmar's ruling junta praised President Donald Trump in a letter and called for an easing of sanctions in a letter responding to a tariff warning. Administration officials said there was no link between the letter and the sanctions decision. A notice from the U.S. Treasury Department said KT Services & Logistics and its founder, Jonathan Myo Kyaw Thaung; the MCM Group and its owner Aung Hlaing Oo; and Suntac Technologies and its owner Sit Taing Aung; and another individual, Tin Latt Min, were being removed from the U.S. sanctions list. The Treasury Department declined to say why the individuals had been removed from the list. In a statement to Reuters, Deputy Treasury Secretary Michael Faulkender said: "Individuals, including in this case, are regularly added and removed from the Specially Designated Nationals and Blocked Persons List (SDN List) in the ordinary course of business." Early this month, as part of a slate of import tariffs ordered by Trump, Myanmar was notified of a 40% tariff to take effect on August 1. On July 11, Myanmar's ruling military general, Min Aung Hlaing, responded by proposing a reduced rate of 10% to 20%, with Myanmar slashing its levy on U.S. imports to a range of zero to 10%. He said he was ready to send a negotiating team to Washington if needed. "The senior general acknowledged the president's strong leadership in guiding his country towards national prosperity with the spirit of a true patriot," Myanmar state media said at the time. Min Aung Hlaing also asked Trump "to reconsider easing and lifting the economic sanctions imposed on Myanmar, as they hinder the shared interests and prosperity of both countries and their peoples." A senior Trump administration official said the decision to lift sanctions was unrelated to the general's letter. "The decision to lift sanctions reflects a lengthy process that began in the prior administration," said the official, speaking on condition of anonymity. "There is no connection between these decisions and the letter." White House spokeswoman Anna Kelly said that sanctions delistings "were collected over the last year in accordance with standard Treasury course of business." John Sifton, Asia advocacy director of Human Rights Watch, called the sanctions move "extremely worrying." "The action suggests a major shift is underway in U.S. policy, which had centered on punitive action against Myanmar's military regime," he said in emailed comments. Myanmar's military overthrew a democratically elected government in 2021 and has been implicated in crimes against humanity and genocide. Kelly rejected the Human Rights Watch comments as "fake news," and a second senior Trump administration official said the sanctions decisions were not indicative of a broader shift in U.S. policy toward Myanmar. KT Services & Logistics and Jonathan Myo Kyaw Thaung were added to the sanctions list in January 2022 under the administration of U.S. President Joe Biden in a step timed to mark the first anniversary of the military seizure of power in Myanmar that plunged the country into chaos. Sit Taing Aung and Aung Hlaing Oo were placed on the sanctions list the same year for operating in Myanmar's defence sector. Tin Latt Min, identified as another close associate of the military rulers, was placed on the list in 2024 to mark the third anniversary of the coup. Representative Ami Bera, the top Democrat on the House Foreign Affairs Asia subcommittee, in a statement to Reuters called the decision to lift sanctions against the individuals "a bad idea" that "goes against our values of freedom and democracy." Other U.S. sanctions on Myanmar generals, including on Min Aung Hlaing, remain in place. Myanmar is one of the world's main sources of sought-after rare earth minerals used in high-tech defense and consumer applications. Securing supplies of the minerals is a major focus for the Trump administration in its strategic competition with China, which is responsible for 90% of rare earth processing capacity. Most of Myanmar's rare earth mines are in areas controlled by the Kachin Independence Army (KIA), an ethnic group fighting the junta, and are processed in China.

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