In previous US recessions, a familiar fiscal pattern has almost always played out. Deprived of revenue, the state and local governments closest to the American people lay off employees and cut essential services. If and when Congress comes to the rescue, it’s often too late. The economic damage has been done. In some ways, the coronavirus crisis has disrupted this ...

Bloomberg The European Union (EU) and the US agreed to suspend tariffs on billions of dollars of each other’s products, easing a 17-year transatlantic dispute over illegal aid to the world’s biggest aircraft makers. President Joe Biden and European Commission President Ursula von der Leyen agreed to the move on a call, the commission said in a statement. “This suspension ...

Bloomberg Malaysian budget airline AirAsia Group Bhd. said it is seeking to launch a flying-taxi business as soon as next year. “We are working on that right now,” Tony Fernandes, the company’s chief executive officer and co-founder, said. “I think we are about a year and a half away from launching.” Fernandes was speaking in an online discussion as part ...