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let s start here in the uk, where thousands of passengers have had their holiday plans disrupted after numerous flights were cancelled on sunday. it comes at a time when the aviation industry is struggling to recruit full time staff after laying off workers during the pandemic. easyjet said it had cut 80 flights on sunday, and apologised to customers for the disruption, blaming the the ongoing challenging operating environment . flights from british airways and wizz air were also affected. the uk government has provided £8 billion of support to the aviation sector during the pandemic. transport secretary grant shapps believes the industry cut too manyjobs during the pandemic and said it should not oversell flights. joining me now is fiona cincotta from city index. some cincotta from city index. strains explained because this some strains explained because this has been an especially busy travel weekend, not just in the uk but other parts of europe, some highlight s ....
Feeling it because the extra costs have to get trickled down into the consumer. reporter: he s cut pay 5 cents a mile for drivers like paintin. some people may think 5 cents is just a mikheil. eth $300 to $400 a week. reporter: that s a lot. high diesel prices are fueled in part by the u.s. banning russian oil after the war in ukraine and u.s. oil refineries closing during covid because of low demand, all putting pressure on a tight supply, according to oil analyst patrick behaan of gas buddy. i would saith as close to be a shortage without being a shortage. americans can still find diesel at most stations. reporter: despite high prices, paintin says he can t slow down. i m a working man. this is all i know. reporter: paintin says truck drivers and other companies have seen even wigger pay cuts. phor, with the supply to tight, the oil analyst we spoke to says ....
The fourth industrial age? i5 the fourth industrial age? is it a danger some employers might see as a button and opportunity to cut costs and cut pay. opportunity to cut costs and cut -a . , . . cut pay. there is that. while there are cut pay. there is that. while there are a cut pay. there is that. while there are a number - cut pay. there is that. while there are a number of - there are a number of initiatives out there which are seeing a reduction in hours for a reduction in pay, we are very clear, 100% pay, 80% time, provided you are getting 100% productivity because we are not paying people for the time they were, we are paying them for what they do. what they do. thank you very much for what they do. thank you very much forjoining what they do. thank you very much forjoining us what they do. thank you very much forjoining us here. - brea kfast breakfast is starting shortly for viewers in the uk. and breakfast is starting shortly for viewers in the uk. and on our websit ....
Bloomberg News, Bloomberg News People take an escalator in the Lujiazui financial district in Shanghai, China, on Monday, Dec. 21, 2020. Chinaâs central bank is striking out on its own with signals of tighter monetary policy, widening a divergence with other large economies that will shape global capital and trade flows next year. Photographer: Qilai Shen/Bloomberg , Bloomberg (Bloomberg) Chinaâs two largest investment banks are making broad cuts to travel budgets that will impact junior bankers as well as senior directors as they seek to reign in costs and boost profitability. Starting this month, CSC Financial Co. managing directorsâ domestic travel will be downgraded to economy flights and second class or hard-berth train seats, according to a memo seen by Bloomberg. Larger rival Citic Securities Co. also asked managing directors to fly coach, according to a separate memo, which did not specify ....