Is any airline on the planet in a more impossible situation right now than Cathay Pacific Airways Ltd.? The carriers that have coped best during the pandemic have two qualities in common. They either have a substantial domestic or quasi-domestic market, such as Interglobe Aviation, Spring Airlines or Ryanair Holdings; a reliable government shareholder, like Singapore Airlines; or, ideally, both, ...

  The 10-year German bund yield has turned positive after almost three years below zero. It’s a sign of the times as government borrowing costs are on the rise globally. With the euro zone’s nascent economic recovery more fragile than that of the US, however, the European Central Bank needs to remain vigilant that increased market interest rates don’t choke ...

When he took office one year ago, President Joe Biden faced extraordinary challenges. He had to contend with a global pandemic that had crushed the economy and confounded the experts. He had to repair shattered alliances and restore American credibility after four years of President Donald Trump. More pointedly, he was taking charge of a country left bitterly divided — ...