Message received loud and clear. Federal Reserve Chair Jerome Powell had his foghorn out blaring that there is nothing, repeat nothing, to stop policymakers from yanking interest rates up in half-point steps. His hawkishness prompted the yield curve to flatten to levels not seen since 2016, setting off alarm bells about a potential inversion — where shorter-dated levels rise above ...

  Bloomberg The China Eastern Airlines Corp jet that crashed was travelling at close to the speed of sound in the moments before it slammed into a hillside, according to a Bloomberg News review of flight-track data. Such an impact may complicate the task for investigators because it can obliterate evidence and damage a plane’s data and voice recorders that ...

  Bloomberg Lanvin Group, which owns the French fashion brand known for its red-carpet gowns, plans to float in New York via a blank-check company in a sign of confidence for the luxury industry. The transaction is set to give the company an enterprise value of $1.5 billion. Lanvin’s owners, which include Chinese investor Fosun, are hoping to raise $544 ...

  Bloomberg Russia offered to compensate owners of jets commandeered by the country, a bid to smooth relations with leasing companies that stand to lose billions of dollars on rented aircraft they can’t get back. Authorities in Moscow are seeking ways to legally get round sanctions requiring international firms to recall the planes, Transport Minister Vitaly Savelyev said. Options include ...

  Bloomberg The health ministers of Malaysia and Singapore agreed to work on resuming travel completely between the two countries considering the pandemic situation has stabilized, Malaysian Health Minister Khairy Jamaluddin wrote on Twitter. The two ministers agreed they can immediately work on enabling full resumption of air and land travel for fully vaccinated people, Khairy said. He met with ...

  Bloomberg Air New Zealand has announced plans to fly directly to New York — one of the longest routes in the world — as the country begins to rebuild a tourism industry that’s been decimated by the pandemic. The carrier said it will begin direct flights from Auckland to John F Kennedy Airport in September. At just over 16 ...

Bloomberg President Joe Biden faces a crucial test of his ability to project power and reassurance amid the biggest European security crisis in decades, as he seeks to rally US allies around harder-hitting sanctions to punish Russia for invading Ukraine. Biden will join back-to-back summits Thursday with Nato, the Group of Seven and the European Union in Brussels, where the ...

Bloomberg Poland expelled 45 Russian diplomats after arresting a low-level civil servant on suspicion of spying, joining a counter-espionage crackdown taking places across the EU’s east following Moscow’s attack of Ukraine. The diplomats, which Polish intelligence identified as officers of the Russian special services and their associates, will have to leave the country in the next five days, Foreign Ministry ...

  Bloomberg Finland has taken legal custody of 21 yachts while it investigates whether their owners are sanctioned following Russia’s attack on Ukraine. The luxury boats sit in winter storage and cannot be transferred while Finnish Customs looks into their beneficial owners, Sami Rakshit, head of the enforcement department, said by phone on Wednesday. Asked to describe the boats, Rakshit ...

Bloomberg Ukrainian President Volodymyr Zelenskiy urged Japanese lawmakers to expand their already unprecedented sanctions regime against Russia, saying he needed more help to turn back the “tsunami of brutal invasion.” In a speech on Wednesday to the Japanese Diet, Zelenskiy reiterated his call for a trade embargo against Russia. The video address — like his other appeals to supportive parliaments ...