There was something of a watershed moment in the $21 trillion US Treasury market. After a period of relentless selling that pushed longer-term yields to their highest levels in a year, Federal Reserve Chair Jerome Powell had one last opportunity to quell investors’ nerves before the central bank’s self-imposed blackout period. Instead, he said that he’s not too bothered by ...

House Democrats are reportedly pressing President Joe Biden to reverse US policy on Cuba once again, returning to the detente that prevailed before Donald Trump took office. Biden should indeed take the first steps towards renewed openness — and put the onus on Cuba’s Communist leaders to respond. As with so many of his predecessor’s policies, Trump was quick to ...

Bloomberg Australia’s government will subsidise 800,000 half-price air fares as part of a A$1.2 billion ($920 million) package to prop up the nation’s ailing tourism industry. To run from April 1 to July 31, the discounted fares are designed to help tourism-dependent regions and should support airlines, hotels and hospitality venues, Prime Minister Scott Morrison said in a statement. The ...

Bloomberg Amazon.com Inc. has been ordered to close a facility outside Toronto for two weeks as public health officials worry about rising Covid-19 cases inside the complex. While the rate of Covid-19 infection has been falling in the Peel region in the past few weeks, the rate inside the Brampton, Ontario, fulfillment center “has been increasing significantly,” the local health ...

Bloomberg Joann Inc., the fabric and craft store, and selling shareholders raised about $131 million in an initial public offering (IPO) a decade after being taken private by buyout firm Leonard Green & Partners. The IPO fell short of the Hudson, Ohio-based company’s goal of raising as much as $186 million. Joann sold about 11 million shares for $12 each after ...

Bloomberg Cathay Pacific Airways Ltd. reported a net loss of HK$21.65 billion ($2.8 billion) for 2020, a period the carrier described as “the most challenging 12 months of its more than 70-year history” as the coronavirus pandemic brought unprecedented disruption to global air travel. The outlook isn’t much better, according to Chairman Patrick Healy, who said “it is by no ...

Bloomberg Adidas AG is targeting sales growth of as much as 10% annually through 2025 as it doubles down on e-commerce and sustainable materials. The German sportswear maker forecast a surge in online sales and the steady build-out of shoes and apparel made from recycled materials to help push up profit by as much as 18% a year. The company ...

Bloomberg US airlines carried an average of more than 1 million passengers a day in the past week, the highest non-holiday total since the Covid-19 pandemic began gutting travel demand in the countryalmost a year ago. The total of 1.28 million was the third highest since travel collapsed in mid-March 2020, according to data reported by the Transportation Security Administration ...

Bloomberg A pregnant woman and a monk were among those killed in Myanmar over the weekend amid violent crackdowns by security forces on anti-coup protesters, as both sides showed no signs of backing down. At least seven people were confirmed dead, according to the UN Human Rights Office, bringing its tally since the coup started in February to 88. Fatalities ...

Bloomberg Kenya has decided to withdraw from a maritime-border case with Somalia, ahead of a hearing at the International Court of Justice scheduled for Monday, Nairobi-based Sunday Nation reported. The decision is partly because of the failure to accept Kenya’s request to further delay hearings due to coronavirus-related disruptions, the newspaper said, citing documents whose source it didn’t disclose. A ...