Last week’s US retail sales numbers provided comfort for both the V and the square-root economic recovery camps. But rather than mark the beginning of a consensus on what lies ahead, they highlight a durable debate raging not just on Wall Street, but also on Capitol Hill. By adding 1.2% growth after the 8.4% rebound of the previous month, the ...

TUI AG, the world’s biggest package-holiday company, has just secured enough government funding to see it through the lean Covid-affected winter season. A glance at its latest quarterly earnings shows this is probably just as well. The German company reported a 1.1 billion-euro ($1.3 billion) operating loss in the quarter ending on June 30, after revenue slumped 98%. It said ...

The Chinese used to be an adventurous bunch. Last year, 170 million of them travelled internationally, threatening to tip the nation into a current account deficit. Now, scarred by anti-Chinese sentiment abroad amid the pandemic, and suspicious of many things foreign, consumers are turning inward. Consider a CLSA Ltd survey of 1,600 shoppers, conducted between June 30 and July 7. ...