Every week, the people who trade electricity in the UK get to quiz the managers of the national grid for an hour. The conference call, which anyone can monitor, offers an insight into what the men and women on the front line of the power market are worried about. Listening to them is getting scarier by the week — ...

  The United States government will find out soon enough what “moral hazard” means. Clearly it does not know already, or President Joe Biden would not have announced that his administration would forgive US student debt worth around 1.6% of GDP. It’s natural to ask, as critics have, whether the new policy is fair. Should regular taxpayers subsidise those who ...

  Bloomberg Air New Zealand posted its third straight annual loss but indicated the worst is over and it expects earnings to improve now that borders have reopened. The Auckland-based airline announced a loss before significant items and tax of NZ$725 million ($450 million) for the year ended on June 30 compared with a NZ$444 million loss a year earlier. ...