Bloomberg Global oil markets have rebalanced following last year’s historic collapse in demand, according to Russia’s deputy prime minister. “The last few months we have seen low volatility, which means the market is balanced, and the prices we see today certainly correspond to the situation in the market,” Alexander Novak said on state television channel Rossiya 1. Crude will probably ...

Federal Reserve Chair Jerome Powell is nobody’s idea of a radical. But in his speech last week to the Economic Club of New York, he articulated an idea that upends generations of conventional wisdom and sets the stage not only for the Fed’s approach to the current economic crisis but also for President Joe Biden’s. “A strong labour market that ...

Ursula von der Leyen did the right thing last week after she’d tried everything else. The European Commission president finally apologised for the failings of the continent-wide vaccine procurement scheme. It followed an unseemly few weeks of battle over the vaccine, during which Von der Leyen scapegoated the Anglo-Swedish pharma company AstraZeneca Plc for supply holdups and threatened to close ...

Time to stop trash-talking inflation. Forecasts for a decent pickup in the pace of price increases ought be welcomed, and we’re a long way from the bad old days of the 1970s. While measures of US inflation gained at the end of last year, they are well below levels desired by the Federal Reserve. In China, consumer prices unexpectedly fell ...

In India, tens of thousands of farmers drawn from several northern states have camped outside Delhi since November, demanding the repeal of three new laws meant to liberalise the country’s agriculture sector. Prime Minister Narendra Modi’s government shouldn’t give in, but it ought to address the deeper worries behind the protesters’ complaints. The standoff is growing more tense. Protests turned ...

Bloomberg Air Canada’s former top executive is growing more optimistic about the chances of a government aid package, as a prolonged travel slump forces the Montreal-based airline to further cut capacity. Canada’s biggest carrier said it expects to burn as much as C$17 million ($13.4 million) in net cash per day this quarter and reported fourth-quarter revenue that trailed analysts’ ...

Bloomberg UK leisure airline Jet2 Plc raised 422 million pounds ($582 million) in new equity, adding to its cash reserves with travel virtually shuttered. The new shares, representing about 20% of the carrier’s stock, were sold at 1180 pence each, a 9.1% discount from the closing price, Jet2 said in a statement. “We estimate that Jet2 can now endure a ...

Bloomberg Under Armour Inc’s sales beat expectations in the fourth quarter as the athletic-apparel maker benefited from e-commerce demand and made progress on its restructuring program, sending the shares higher. Revenue in the period ended on December 31 fell 3% to $1.4 billion, topping the $1.26 billion average of analyst estimates compiled by Bloomberg. E-commerce sales jumped 25%. Under Armour ...

Bloomberg Amazon.com Inc has hired several employees of a Covid-19 testing startup as part of efforts to curb outbreaks among its workers. Caspr Biotech’s cofounders, Chief Executive Officer Franco Goytia and Chief Strategy Officer Carla Gimenez, joined Amazon in December, according to a person familiar with the situation. The pair, along with several other startup employees, are working on a ...

Bloomberg Germany is planning a 900 million-euro ($1.1 billion) bailout of the country’s airports, adding to a multibillion-euro outlay already aimed at helping the aviation sector survive the coronavirus. The government will offer Berlin-Brandenburg, Cologne-Bonn and Munich a package of loans, grants and stake purchases worth more than 400 million euros, according to a transport ministry document seen by Bloomberg ...