People can be just the worst borrowers, failing to pay what they owe especially if defaulting doesn’t cost them their house or their car. That’s why credit cards charge eye-watering interest rates and late fees. It’s also why cards and other unsecured consumer debt cause the biggest losses for banks during major downturns — and why central banks assume that ...

As a second act, it doesn’t quite match up to the promise of the original. At last year’s United Nations General Assembly, Chinese President Xi Jinping promised to reduce his country’s emissions to net zero by 2060 and hit peak pollution by 2030. That was a genuinely striking commitment from a country that had long chafed at pollution controls. At ...

Bloomberg Virgin Atlantic Airways Ltd’s US bookings surged more than 600% from a week earlier after the Biden administration said most foreigners fully inoculated against Covid-19 would be able to visit again. New York saw the biggest surge in demand, the UK airline said in a statement, while leisure destinations also performed well. Sales to Orlando, Miami and Las Vegas ...