After the world has finally worked its way beyond the Covid-19 crisis, it may have to confront a danger that almost everybody has forgotten: higher inflation. At the moment, it’s the last thing investors and governments are worried about, which is exactly what makes the threat so plausible. It has been decades since governments have lost sleep over high inflation. ...

At one level, Secretary of State Michael Pompeo’s decision to fire the department’s inspector general tells us nothing we didn’t already know. Even before Pompeo enabled the smearing and sidelining of US Ambassador to Ukraine Marie Yovanovitch last year, he had made it clear that he would tolerate political attacks and even retaliation against members of the US foreign service. ...

Bloomberg Rolls-Royce Holdings Plc Chief Executive Officer Warren East’s five-year bid to revive earnings has been shattered by the coronavirus as the UK engineering giant moves to scrap 9,000 jobs and considers closing sites. The jet-engine maker will cut 17% of its workforce and boost savings goals to contend with a travel slump that’s drastically shrunk the aviation market, according ...