The US dollar has surged almost 14% from its low last year in trade-weighted terms. This has led to a huge terms of trade shock (the price of exports compared with the price of imports) affecting any country that imports a lot of energy, which trades in dollars. On top of that, in Europe and the UK, at least, ...

  The Federal Reserve is inching towards acknowledging how painful its inflation fight is likely to be, but it’s still a lot closer to the optimists than the pessimists. On a day when it raised interest rates by 0.75 percentage point to a range of 3% to 3.25%, the Fed also released economic projections showing that its median forecast for ...

Bloomberg United Airlines Holdings Inc faces potential disruption in one of its most lucrative overseas markets as 300 workers at London’s Heathrow airport begin voting in a strike ballot over pay. The poll of staff employed in operations, customer services and baggage handling will run until October 11, the Unite union said in a statement. United’s UK employees are in ...