Everyone is stressing about consumer debt. Investors have been dropping the shares of big banks, credit-card specialists and younger fintechs because of fears about the pain that rising living costs and interest rates will inflict on borrowers. The weird thing is that households in the US, UK and much of Europe are in pretty good shape and showing few signs ...

  The most visible sign of trouble in the private equity industry right now is the collapse of one deal after another. You can’t do a leveraged buyout without the debt, and financing markets are seizing up. But buyout firms face bigger challenges than putting their stash of idle funds to work. The turn in credit markets has made banks ...

  The global semiconductor industry has gone from imploring the US government to hand out corporate welfare, to threatening the cancellation of investments should the money not come through. They’re desperate moves that belie the tenuous economics upon which an American chip revival is being built, and Congress’s willingness to risk credibility to gain political points. Intel Corp pulled the ...

  Bloomberg Just 20 minutes north-west of Singapore’s Changi Airport — regularly voted the world’s best — is Seletar Airport, the city-state’s second, and far well less known, airfield. It’s predominantly where the super-rich land in their private jets. It’s also where the future of aviation could be taking off. The neighbourhood, more known for its laid-back cafes in restored ...

  Bloomberg Fomento Economico Mexicano agreed to buy Switzerland-based convenience store operator Valora for as much as $1.2 billion to expand into Europe. Femsa, as the company is known, offered 260 francs a share, a premium of 52% to the closing price, the companies said. Valora climbed as much as 51% to 258 francs in early Swiss trading. Based in ...

Bloomberg Scandinavian airline SAS AB filed for Chapter 11 to tackle its debt burden for a second time in two years as the recovery from the disruption caused by the coronavirus pandemic has been slower than expected. Scandinavia’s largest airline has been in talks with its creditors to convert 20 billion Swedish kronor ($1.9 billion) of outstanding debt and hybrid ...

Bloomberg EasyJet Plc Chief Operating Officer Peter Bellew is leaving, just as the UK discount carrier grapples with flight cancellations and strikes disrupting its service. Bellew, 57, who joined from low-cost rival Ryanair Holdings Plc in 2019, will be succeeded as interim COO by David Morgan, who has filled the role on a temporary basis previously, EasyJet said in a ...

  Bloomberg A Boeing Co 737 Max operated by SpiceJet Ltd made an emergency landing in Karachi after an indicator light malfunctioned, according to a spokesman for the Indian low-cost carrier. The plane was en route to Dubai from New Delhi and landed safely after diverting to the Pakistani city, where a replacement aircraft was headed to pick up passengers ...

  Bloomberg British Airways (BA) will pull more flights from its summer schedule as the carrier looks to reduce last-minute cancellations amid continuing staffing shortages and long queues at airports. The unit of IAG SA has now reduced its timetable by 11% through October, compared with a 10% cut for the period announced in May. The UK government has waived ...

Bloomberg Turkey is threatening to veto Nato membership for Sweden and Finland even as the military alliance formally paved the way for the two Nordic countries to join. Turkey will not ratify membership of the North Atlantic Treaty Organization for the applicants if they don’t fufill their promises to combat terrorism and extradite suspects under a memorandum of understanding reached ...