For a few decades now, China has been converging with the US economically. Depending how you measure it, its gross domestic product has either already passed that of its great global rival or is getting ever closer. Average incomes are still much lower in China, but by another key metric of living standards, life expectancy, China matched the US ...

  A short time before voting closed in the latest elimination round of the Tory leadership contest, Michael Gove, a Conservative Party heavyweight whom Boris Johnson sacked from cabinet before his own downfall, made the case for Kemi Badenoch. Speaking to the think tank Policy Exchange, he called Badenoch his “intellectual superior,” who had three things the next leader needed: ...

  Bloomberg The potential blockbuster deal of this year’s Farnborough air show still hangs in the balance, with Airbus SE growing more confident it can secure a landmark purchase of about 50 A350 wide-body jets from Air India Ltd at the event, and Boeing Co working on a deal for as many as 150 737 Max jetliners. The Indian carrier ...

  Bloomberg The UK government said new plans to curb the aviation sector’s carbon output should mean aircraft emissions never again exceed levels seen before the coronavirus pandemic. Improvements to the existing aviation system, including a targeted 2% annual gain in fuel efficiency and steps to modernise airspace to shorten routes, should mean 2019 is remembered as the peak year ...

Bloomberg United Parcel Service (UPS) Inc opened a second airport cargo-handling facility in India to capture soaring pandemic-driven demand for airfreight. The 15,000-square-foot space in Bengaluru’s international airport will connect south India’s automotive, textile, defense and aerospace manufacturing hubs to parts of Asia, Europe and America, Deepak Shrivastava, managing director of UPS’s local unit, said in an interview. UPS will ...

  Bloomberg British consumers are starting to lose faith in the quality of food sold by UK supermarkets as they adapt their buying habits to cope with the highest inflation in four decades. Trust in supermarkets fell 20% over the past year and almost a quarter of shoppers say they are buying lower-quality products to feed their families, according to ...

  Bloomberg Finland’s national carrier Finnair is working to overhaul its strategy in an admission that access to Russian skies, which underpinned its previous focus on Asia, will likely not be restored any time soon. “There’s no end in sight for the war in Ukraine,” CEO Topi Manner said on a conference call following second-quarter earnings. “We’re preparing to see ...

  Bloomberg VietJet Aviation JSC confirmed a deal for 200 Boeing Co 737 Max jets, giving the US planemaker another boost at one of the industry’s biggest events. The first 50 aircraft will be delivered to Thai Vietjet, the Vietnamese budget carrier’s affiliate in Thailand, the company said during the Farnborough International Airshow in the UK. “The agreement is a ...

Bloomberg Ranil Wickremesinghe was voted in as Sri Lanka’s president backed by a majority of lawmakers from ousted leader Gotabaya Rajapaksa’s party, a development that could reignite street protests in the bankrupt nation and scuttle bailout talks with the International Monetary Fund. Wickremesinghe, 73, beat Dullas Alahapperuma, an opposition-backed candidate who had the support from a faction within the ruling ...

Bloomberg The US embassy in Brasilia described Brazil’s elections as a “model for the world,” one day after President Jair Bolsonaro told foreign ambassadors that the country’s electronic voting system is subject to fraud. Echoing comments made by President Joe Biden during a bilateral meeting with Bolsonaro last month, the embassy said in a statement late Tuesday that the US ...