In recent months, the Federal Reserve has taken a lot of heat from asset managers for letting inflation run out of control and now risking a recession with rapid rate hikes. The chorus of complaints revolves around its perception in the marketplace. “If the Fed doesn’t do its job, the market will,” wrote Bill Ackman, founder of Pershing Square ...

Bloomberg London Heathrow is imposing a two-month cap on daily passenger traffic to contain flight chaos, a dramatic response by the UK’s busiest airport to address the struggle with surging demand for travel. The airport will limit daily passenger traffic to 100,000 departing people through September 11, asking carriers to refrain from selling summer tickets. Current forecasts are modeling for ...

Bloomberg Air France-KLM’s French low-cost carrier, Transavia, cancelled 15% of flights amid a dispute with cabin crew, exacerbating the chaos engulfing European air travel. Dozens of the company’s flights from Paris-Orly airport were not operating, according to the SNPNC union, which had called for strike action over wages. The labour group refused to sign a deal agreed to with other ...