Long before the war in Ukraine, India’s Prime Minister Narendra Modi decided that international card networks could be used as instruments of statecraft — and that he should channel the rising economic power of his country’s 1.4 billion people to resist the dominance of Visa Inc, Mastercard Inc and American Express Co. “Everyone cannot go to the border for ...

  The Federal Reserve is in a deep hole of its own making as its top policy committee meets to announce the start of a long-anticipated cycle to raise interest rates. Inflation is at a 40-year high and still accelerating, the Fed’s inflation-fighting credibility is damaged, and it has lost control of the monetary policy narrative. Add to that the ...

  Bloomberg Bermuda’s Civil Aviation Authority removed all aircraft tied to Russia from its airworthiness registry, exposing hundreds of jetliners owned by foreign leasing firms to devaluation. “International sanctions on the aviation sector have had a significant impact on the ability to sustain safety oversight on Russian-operated aircraft,” the authority said on its website. The agency said it’s “unable to ...