Bloomberg Air travel in China has returned to January 2019 levels ahead of the important Lunar New Year holidays, according to aviation data provider Cirium. Airlines in China are scheduled to operate 99.8% of January 2019’s flights this month, Cirium said, although the recovery has been largely driven by domestic travel. Domestic seating is 9.5% higher than 2019 levels, …

  Bloomberg The Bank of England is likely to keep interest rates in painful territory through this year or longer even as the economy falls into recession. Inflation is running five times above the BOE’s target, and Governor Andrew Bailey is concerned that worker shortages are feeding wage pressures. The market is betting on another 1 point increase in the …

  Bloomberg Alphabet Inc.’s Google has cut most of the jobs at Area 120, its in-house incubator for new projects, as part of a broad wave of layoffs across the company. Three projects in the incubator will “graduate” later this year, meaning they will be folded into Google, a company spokesperson said Friday. “We have made the difficult decision to …