The central bank needs some new tools to navigate the unique challenges that are likely to confront the euro-zone economy. The war in Ukraine has left Europe facing both greater supply chain disruptions and higher prices for raw material, problems exacerbated by the region’s dependency on Russia energy. Against this backdrop, the European Central Bank (ECB) must find a ...

Bloomberg Travel disruption continued to hit UK holidaymakers as officials warned of expected queues at airports later in the week and motorists faced fuel shortages. Both EasyJet Plc and British Airways had more cancellations, though the airlines said those flights had been called off in advance. According to FlightAware data, British Airways canceled 7% of flights today and delayed 19%. ...

  Bloomberg Sichuan Airlines Corp suspended one of its employees after contentious comments he posted online were unearthed, highlighting growing jitters in China after a deadly air crash last month. An internet user took to Weibo to ask the carrier to prevent the staff member in question — identifiable as an ethnic Mongolian Chinese national called Ayingga — from flying ...

  Bloomberg Clearpay Finance Ltd is partnering with mall landlord Unibail-Rodamco-Westfield in the UK, continuing the buy-now-pay-later provider’s expansion into brick and mortar retail globally. Customers at 13 stores in Westfield’s pair of giant London shopping centers will be given the option to pay in installments through Clearpay, which is known as Afterpay outside Europe. It adds to Clearpay’s UK ...

  Bloomberg London’s Heathrow airport will ramp up hiring “as fast as possible” after passenger numbers surged last month to the highest since the Covid-19 pandemic began. The 4.2 million travellers passing through the facility during March represents a more than seven-fold jump from a year earlier, according to a statement on Monday. The hub, once Europe’s busiest, is racing ...

Bloomberg JD.com Inc’s billionaire founder Richard Liu has stepped down as chief executive officer of China’s No. 2 online retailer, joining tech tycoons that exited top management roles after Beijing’s sweeping internet-sector crackdown. Xu Lei, who was recently promoted to president after more than a decade at the company, takes the helm of the e-commerce titan effective immediately. Liu’s lieutenant ...

Bloomberg The European Union’s top diplomat is urging member states to quickly provide Kyiv with the weapons it has asked for, as Ukraine braces for Russia to step up its campaign in the country’s east, according to people familiar with weekend discussions. Josep Borrell told EU diplomats a decision is needed in days and not weeks, and the bloc must ...

Bloomberg US President Joe Biden will again press India to take a harder stand on Russia’s war in Ukraine during a virtual meeting with Prime Minister Narendra Modi ahead of a dialog between the foreign and defense ministers from both sides. Biden will continue “consultations on the consequences of Russia’s brutal war against Ukraine and mitigating its destabilising impact on ...

Bloomberg Singapore Prime Minister Lee Hsien Loong warned the US against isolating China over the war in Ukraine by framing it as a battle between democracies and autocracies, which would complicate an already fraught relationship between the two powers. “You have to be very careful not to define the problem with Ukraine in such a way that automatically, China is ...

Bloomberg French President Emmanuel Macron ramped up his campaign for a second term, with his allies zeroing in on rival candidate Marine Le Pen’s links to Russia’s Vladimir Putin. As the second round of campaigning began on Monday ahead of a final vote in two weeks’ time, Finance Minister Bruno Le Maire said voters have a choice between an “ally ...