In the space of a few short months, the prevailing narrative on US inflation has veered from “It’s transitory” to “We have a problem.” The Federal Reserve took another step towards acknowledging this, raising its policy rate by 50 basis points and leading investors to expect a faster pace of tightening from now on. That’s fine, you might say, ...

Bloomberg Qantas Airways Ltd revived a plan to start direct flights connecting Australia’s east coast with New York and London as it finally ordered Airbus SE jets for the ultra-long services. The airline said it’s buying 12 A350-1000s that can fly non-stop from Australia to any city in the world. Commercial services will start from Sydney in late 2025, Qantas ...

  Bloomberg Korean Air Lines Co reported preliminary revenue that’s almost back at pre-Covid levels on a quarterly basis as the carrier’s strong presence in cargo makes up for still-weak passenger traffic. The South Korean airline posted revenue of 2.81 trillion won ($2.3 billion) and a record first-quarter operating profit of 788.4 billion won, according to a statement. The airline’s ...