Bloomberg UK Chancellor of the Exchequer Rishi Sunak will announce a package of measures to alleviate the impact of rising energy costs “in due course,” Prime Minister Boris Johnson said on Monday, as his government grapples with a growing squeeze on the cost of living. Johnson is coming under increasing pressure from opposition parties and members of his own ...

  Russian military action in Ukraine could trigger an energy crisis even more serious than the one already hitting Europe. As has been pointed out, should the West hit Russia with severe new sanctions, President Vladimir Putin could cut off natural gas exports, leaving the continent shivering through midwinter. Yet there is another potential weapon of Russia’s that’s been less ...

Apple Inc, the iconic company whose products have transformed daily life, has done what was once unthinkable: It has become the humdrum. Last week, Apple has reported revenue of $124 billion for the December quarter, beating the $119 billion median estimate of analysts surveyed by Bloomberg. Net profit for the quarter also came in above the consensus. Yet underneath those ...

  At the conclusion of this month’s meeting of Federal Reserve policy makers, the central bank announced that it will “soon be appropriate” to start raising interest rates. This affirmed investors’ expectations of a first quarter-point increase in March followed by two or three more before the end of the year. In addition, the Fed says it will end its ...

  Credit Suisse chose a bad year to cut risk taking. The Swiss bank’s profit warning was headlined with charges for settling old court cases — but revealed a worrying loss of business in its investment bank within. It’s another disruptive squall that the bank’s investors didn’t need. It’s barely a week since its reform-driving chairman Antonio Horta-Osorio was ousted ...

  Bloomberg Cathay Pacific Airways Ltd. is considering hiring options to combat an exodus of pilots from Hong Kong, senior executives said at a town hall, according to a person who attended the meeting. The carrier’s top management, including chief operations and service delivery officer Greg Hughes, told staff that an initial spike in pilot resignations last November had remained ...

  Bloomberg Jazeera Airways’s board approved a deal to purchase of 28 narrow-body planes from Airbus SE as the Kuwaiti carrier expands its network to include long-haul routes. The value of the agreement is $3.4 billion and comprises 20 A320neos and eight A321neos, according to a statement. The companies had signed the pact at the Dubai Airshow in November. Jazeera, ...

  Bloomberg Airbus SE said it will make a flying-taxi model available for sale only when the technology is mature, despite rival designs racking up hundreds of conditional orders at a similar stage of development. The CityAirbus NextGen, unveiled last September following a revamp to an earlier blueprint, will fly by the end of next year once remaining technical challenges ...

  Bloomberg LVMH SE shares surged after the luxury giant bounced back from the depths of the pandemic as customers snapped up items ranging from Christian Dior couture to Hennessy cognac. Revenue last year totaled 64.2 billion euros ($71.6 billion), the Paris-based company said, topping the previous record set in 2019, before Covid-19 lockdowns closed stores and kept shoppers stuck ...

  Bloomberg Philippine Airlines Inc. President Gilbert Santa Maria is stepping down from his role in the carrier, the Philippine Star reported Sunday, citing unnamed people in the industry. The board of directors of the airline, majority owned by billionaire Lucio Tan, is set to meet Monday, and Santa Maria’s departure is on the agenda, the Star reported. A Philippine ...