Hong Kong property investors thought they could pick up pennies in front of the steamroller called the Federal Reserve. No longer. US short-term rates were climbing hard even before Donald Trump’s victory. Interbank liquidity in the city was more than abundant, however, thanks to capital fleeing a weakening Chinese currency to the safety of the pegged Hong Kong dollar.All ...

  The unemployment rate is down to 4.6 percent, which sounds pretty good. But the unemployment rate doesn’t count people who’ve given up looking for jobs, which is why the employment-to-population ratio, especially the ‘prime-age’ ratio for those 25 through 54, may be a better measure of the health of the labor market. After I wrote about this metric, several ...

  Bloomberg Deutsche Lufthansa AG and Etihad Airways PJSC of Abu Dhabi agreed to share seat sales in the first step of what could be deeper cooperation between the former adversaries. The two airlines will initially code-share on Etihad’s twice-daily flights linking Abu Dhabi with Frankfurt and Munich, and the German carrier’s services connecting Frankfurt with Rio de Janeiro and ...