Bloomberg Germany’s richest man is now the largest shareholder in Deutsche Lufthansa AG after reinvesting a chunk of a fortune he made in logistics into Europe’s biggest airline. Klaus-Michael Kuehne raised his stake in Lufthansa to 15.01% from 10.01%, according to a filing, overtaking the German government as the carrier’s biggest shareholder. The state has been selling down its interest ...

  Bloomberg J Sainsbury Plc held its profit forecast for the full year even as it warned that rising inflation means pressure on household budgets will intensify. Britain’s second-largest supermarket chain stuck to its forecast for the full year of underlying profit before tax of £630 million ($764 million) to £690 million. The grocer’s comparable sales, excluding fuel, fell 4% ...

  Bloomberg Hong Kong’s new leader John Lee suspended a system that banned airlines from flying routes if they carried passengers infected with Covid, raising hopes he’ll ease onerous travel curbs that have damaged the city’s status as a financial hub. Starting from Thursday, the so-called circuit breaker mechanism will end until further notice, the government said in a statement. ...

  Bloomberg United Airlines Holdings Inc blamed the US Federal Aviation Administration and the nation’s air traffic control system for exacerbating the issues plaguing the industry, saying the agency has been overwhelmed by the volume of flights. The FAA rejected that criticism in a sharply worded rejoinder. The carrier estimated that more than 50% of its delay minutes and 75% ...

Bloomberg Boris Johnson has resigned as UK prime minister, bringing the curtain down on a tempestuous three years in office marred by a succession of scandals that culminated in the rebellion of his own cabinet and parliamentary group. Johnson, 58, bowed to the inevitable after the mass resignation of members of his government, including Chancellor of the Exchequer Rishi Sunak, ...

Bloomberg President Joe Biden accused former President Donald Trump of “dismissing and ignoring the forgotten people he promised to help” in a unusually blunt attack, indicating that the White House may be trying to turn the midterm elections into a referendum on his predecessor. Biden, at an event in Cleveland, slammed Trump repeatedly during his remarks unveiling new regulations governing ...

Bloomberg The foreign ministers of Australia and China will meet for the first time in almost three years as the two nations try to reset a relationship that has often been marked by diplomatic tensions and economic tariffs. The two ministers will have bilateral talks at the Group of 20 meeting in Bali, China’s foreign ministry said Thursday. News of ...

Bloomberg New Zealand Prime Minister Jacinda Ardern said China’s increasingly assertive stance in the Pacific must be addressed through dialogue and diplomacy. “In the wake of the tensions we see rising, including in our Indo-Pacific region, diplomacy must become the strongest tool and de-escalation the loudest call,” Ardern said in a speech to the Lowy Institute Thursday in Sydney. “We ...

  Bloomberg Romania reopened a Soviet-era rail link connecting its Danube River port of Galati to Ukraine a month earlier than expected to help boost vital grain exports from its neighbour. Ukraine, known the breadbasket of Europe, typically exports the bulk of its grain from Black Sea ports, but they’ve been blocked by Russia’s invasion. That’s constraining sales to road, ...

  Bloomberg India’s central bank mounted a fresh defense of the beleaguered rupee, announcing a raft of measures to boost foreign-exchange inflows, that analysts said may not immediately result in large capital flows. The steps include doubling borrowing limits for companies from overseas to $1.5 billion during a financial year, temporarily removing any interest-rate ceiling for banks to attract deposits ...