Bloomberg The black box for a China Eastern Airlines Corp jet that crashed earlier this year suggests the Boeing Co plane took an intentional nosedive, the Wall Street Journal said. Data recovered from the black box suggest that someone in the cockpit input controls that sent the plane into its deadly descent, the Journal reported, citing people familiar with ...

  Bloomberg The Walton family fortune tumbled almost $19 billion after Walmart Inc slashed its profit outlook. Walmart, controlled by the family, fell 11% in New York trading after the Bentonville, Arkansas-based company reported earnings that lagged analysts’ estimates. Soaring inflation heaped pressure on the retailing giant’s profit margins in the first quarter, testing the company’s appetite to raise prices. ...

Bloomberg Ukraine is working to get more of its fighters out of Mariupol’s beseiged Azovstal compound, President Volodymyr Zelenskiy said, as Russia threatened to put on trial those it said had “surrendered” at the steel plant. “The evacuation mission continues” overseen by the military and intelligence service with help from “the most influential international mediators,” Zelenskiy said in his nightly ...

Bloomberg Taiwan must gird itself against potential Chinese aggression through military deterrence that includes acquiring the right weapons and proper training, the top US naval officer said. “That is a big lesson learned and a wakeup call, particularly with respect to not only having the right kit but are people trained to use it the right way,” Admiral Michael Gilday, ...

Bloomberg The US deal with the Taliban — forged under President Donald Trump and implemented under President Joe Biden — was “the single most important factor” in the rapid collapse of Afghanistan’s forces as American troops withdrew last year. As in Vietnam decades earlier, the US “spent years and billions of dollars training and equipping” the Afghan National Security Forces ...

Bloomberg Kim Jong-un may be preparing to launch an intercontinental ballistic missile (ICBM) to coincide with US President Joe Biden’s trip to the region, as the North Korean leader battles a Covid-19 outbreak posing one of the greatest crises faced by his regime. Kim looks poised to test launch an ICBM in the next two to four days, CNN said, ...

  Bloomberg Investors are piling into cash as the outlook for global growth drops to an all-time low and stagflation worries mount, according to a Bank of America Corp (BofA) fund manager survey that points to continued stock-market declines. Cash levels among investors hit the highest level since September 2001, the report showed, with BofA describing the results as “extremely ...

Bloomberg Societe Generale Chief Executive Officer Frederic Oudea said he will leave the lender next year, bringing to a close a 15-year reign that spans the great financial crisis to Russia’s invasion of Ukraine. Oudea, the longest-serving CEO of a major European bank, told shareholders of his surprise decision not to seek reappointment during SocGen’s annual general meeting in Paris. ...

  Bloomberg Australia’s central bank said it considered three options for the size of its first interest-rate increase since 2010, according to minutes of its May 3 policy meeting, when it raised the cash rate by 25 basis points. The board agreed that hiking by 15 basis points, as forecast by most economists, didn’t make sense given policy was very ...

  Bloomberg Americans are putting more on their credit cards and taking out fewer mortgages, as they need to increasingly borrow to cover the higher cost of everyday essentials and respond to rising interest rates. A record 537 million credit card accounts were opened in first quarter, a jump of 31 million over the past year, according to the Federal ...