The Covid crisis has required strong and prompt action by central banks consistent with their mandates. In March, disorderly conditions reached the core financial markets, posing a very real threat to the stability of the financial system — by far the most serious threat since the global financial crisis. Underlying this disorder in markets was an economic downturn almost unprecedented ...

Bloomberg The final bids for Virgin Australia Holdings Ltd will show how much appetite private investors really have for an airline industry that’s been battered by the coronavirus pandemic. Private equity firms Bain Capital LP and Cyrus Capital Partners LP made final and binding offers for the airline on Monday, administrator Deloitte said in a statement. The Australian carrier collapsed ...

Bloomberg US officials rejected additional flights proposed by Chinese airlines but said they would reconsider if the Beijing government adjusts its policies affecting American passenger carriers. In a statement, the Transportation Department said it disapproved service schedules submitted by four China-based carriers that currently are allowed to make four combined flights to the US each week, plus additional proposals submitted ...