China is nothing if not creative in protecting its local industries. Although it has liberalized its economy in recent years, it has also erected a sophisticated set of barriers to safeguard companies it views as national champions. Increasingly, this is a counterproductive approach. The usual method of assessing protectionism is to look at metrics such as tariff rates. And …

  Bloomberg Cathay Pacific Airways Ltd. set a target to save 30 percent in employee costs at its Hong Kong head office as part of the biggest revamp in two decades, amid mounting competition that caused the carrier to post its first annual loss in eight years. The savings will come from changes to middle to senior management that will …

  Bloomberg British Airways owner IAG SA will begin offering cut-price inter-continental flights from June using a new airline to be branded ‘Level’ that could operate more than 30 aircraft. The startup will initially connect Barcelona with Los Angeles and Oakland in California, the Argentinian capital Buenos Aires, and Punta Cana in the Dominican Republic, with tickets priced from 99 …