Bloomberg Governor Tiff Macklem acknowledged there’s potential for even larger increases to borrowing costs as the Bank of Canada (BOC) aggressively wrestles inflation down from a three decade high. Macklem and his officials delivered the first 50-basis-point increase in interest rates among Group of Seven nations last week and signalled more hikes to come. This week, annual consumer price gains …

Bloomberg Global bonds added to this year’s epic rout as traders brace for the most aggressive Federal Reserve interest-rate hikes in 40 years and the likelihood most global central banks will also tighten. The policy-sensitive two-year yield climbed as much as eight basis points on Friday to 2.76%, the highest since late 2018, after Fed Chair Jerome Powell said overnight …

  Bloomberg Shareholders in some of the biggest US companies reaped wealth gains in the pandemic that outpaced pay hikes for their employees by more than 50 to 1, according to a study by the Brookings Institution. The report — focused on 22 industry leaders, including Amazon.com Inc. and McDonald’s Corp. — found that stockholders added some $1.5 trillion in …

Bloomberg Oil edged higher after a tumultuous session where traders weighed concerns about tight global supply with Germany announcing a ban on Russian oil and a sharp drop in US crude inventories. West Texas Intermediate settled above $102 on Wednesday after swinging between gains and losses. German Foreign Minister Annalena Baerbock said that the country plans to stop importing oil …

  Bloomberg French power futures rose to their highest level this year after Electricite de France SA found further indications of corrosion on its nuclear fleet, potentially worsening Europe’s supply crisis. French nuclear capacity is already at its lowest in a decade for this time of year as the energy giant is keeping some of its 56 reactors offline for …

  Bloomberg Siemens Gamesa Renewable Energy agreed to sell its European onshore wind portfolio to Scottish utility SSE for $630 million. It’s the first major divestment for CEO Jochen Eickholt after he was promoted last month to try to turn the turbine maker around as project delays and cost overruns led to profit warnings. The industry is grappling with soaring commodity …

  Bloomberg Cathay Pacific Airways Ltd will alter monthly allowances and other perks for pilots as it tries to stem a wave of resignations among crew frustrated by the impact of Hong Kong’s Covid-19 policies on their lives. The changes depend on pilot ranking and come on top of base salaries and hourly flying rates. From next year, the most …

  Bloomberg Virgin Australia opened three small invitation-only airport lounges in Sydney, Melbourne and Brisbane, renewing its push under new owner Bain Capital into a business-travel market dominated by Qantas Airways Ltd. The lounges are accessed through unmarked doors and have a boardroom for guests and freebies such as meals and refreshments. Together, they seat fewer than 250 people, the …

  Bloomberg United Airlines Holdings Inc jumped after forecasting a profit this year, overcoming a first-quarter loss as consumers increasingly ditch their pandemic-era habits and resume air travel. The carrier’s operating margin in the second quarter will be about 10%, according to a statement. Fuelled by booming leisure sales heading into the summer and “rapidly returning” business travel, the performance …

Bloomberg Nestle SA reported a healthy gain in revenue as the world’s largest food company started the year with its strongest first-quarter pricing in more than a decade. Sales rose 7.6% on an organic basis in the first quarter, the company said. Analysts expected 5.1%. The figures exclude Russia, where Nestle has halted some activities. Food and beverage companies have …