Christine Lagarde started her first press conference as president of the European Central Bank (ECB) by warning that she was different from her predecessor, Mario Draghi. It took reporters just a few minutes to realize that she was indeed. Lagarde is ushering in an era of democratic central banking at the ECB, or so she wants you to believe. But ...

The Texas power market is a gamble. Generators seeking the occasional windfall from price spikes weigh the odds on temperature, wind-speed, the economy and, crucially, how much capacity their rivals are starting up or shutting down. Regarding the latter, they get some guidance from the state grid operator every six months in the form of projections of how much power ...

Markets are cheering trade progress between the US and China. It’s important to note that a trade deal isn’t a cure-all — especially for manufacturers. President Donald Trump reportedly signed off on an initial trade deal with China that will delay proposed tariffs on some $160 billion of largely consumer goods set to take effect on December 15. The deal ...

For 70 years, India has struggled to remain a secular state. In spite of its people being overwhelmingly Hindu, it chose not to distinguish between its citizens — or putative citizens — on the basis of their religion. That principle was what its founding fathers fought for, and what for decades led it to proudly distinguish itself from Pakistan, born ...

The big news of United Airlines was that the company’s longtime chief executive officer, Oscar Munoz, will step down in May. But many of the company’s most loyal customers were focused on a different transition: On December 4, United made the most substantial changes to its frequent-flier upgrade program in years. Flight upgrades are mostly a problem of the 1% ...

After a year of gridlock in Westminster that has frustrated the UK’s attempts to leave the European Union (EU) on amicable terms, British voters have handed Boris Johnson a thumping majority to do just that. They might also be handing Brussels a tough new competitor on Europe’s doorstep. This is sobering for the EU, which is on course to lose ...

Bloomberg Expatriate pilots flying Boeing Co.’s most popular plane for Chinese airlines used to be able to take their pick from dozens of jobs paying $300,000 plus perks thanks to a shortage of experienced aviators there. The grounding of the 737 Max has changed that. Chinese carriers have largely stopped hiring foreign pilots for Boeing’s main narrow-bodied jet, nine months ...

Bloomberg The US is expected to buy 22 aging fighter jets from Switzerland, a country that’s struggling to modernise its own air force. US Navy representatives and the Swiss defense procurement agency, known as Armasuisse, discussed the deal in July, an agency spokesman said by email. The contract is expected to be signed once US lawmakers approve the fiscal 2020 ...

Bloomberg Finland’s national carrier Finnair Oyj is starting its next big round of investments: as much as 4 billion euros ($4.5 billion) on modernising and expanding its narrow-body fleet of aircraft to fly between European cities. The investment comes on top of 2 billion euros spent over the past five years on transforming Finnair’s long-haul fleet to boost fuel efficiency, ...

Bloomberg Sports Direct International Plc surged the most in a decade after the UK retailer said it’s seeing “green shoots of recovery” at its troubled House of Fraser department stores. The company, controlled by billionaire Mike Ashley, acquired the chain last year as the UK’s retail crisis deepened. Sports Direct said the outlook for House of Fraser is brightening after ...