Tourism in wartime has created a new kind of beach activity — tracking superyachts linked to Russian wealth. These temples of conspicuous consumption, which got a huge boost in orders during the pandemic, are symbols of the new geopolitical order dominating soft-power travel hot spots like the French Riviera. Boats linked to Russian oligarchs not known for their discretion ...

From the Suwalki Gap to the Taiwan Strait, the US military faces no shortage of potential crises. But perhaps its biggest challenge lies close to home: A dwindling number of Americans are able and willing to serve in uniform. To maintain the military’s edge, the Pentagon needs to rethink how it recruits and retains troops — while also preparing to ...

Bloomberg Rolls-Royce Holdings Plc CEO  Warren East unveiled lackluster first-half results in his final earnings presentation while saying a mounting recovery in long-haul travel means the jet-engine maker should still hit its full-year financial targets. The UK engineering giant posted an underlying operating profit of 125 million pounds ($152 million) for the first six months, down from 307 million pounds ...

  Bloomberg Hong Kong should urgently provide a clear roadmap for the complete removal of all Covid-19 travel restrictions, the city’s main carrier Cathay Pacific Airways Ltd said. The airline’s statement followed the government saying it will cut mandatory hotel quarantine to three days from a week, effective from August 12. A clear plan to lift all restrictions is needed ...

Bloomberg Ryanair Plc was slapped with a fine in Hungary over a windfall tax the airline’s Chief Executive Officer had called “beyond stupid.” Hungary’s Consumer Protection Office levied a 300 million forint ($781,270) penalty for Ryanair’s decision to pass on the cost of the tax to its customers, Justice Minister Judit Varga said in a Facebook post on Monday. Ryanair ...

  Bloomberg Qantas Airways Ltd needs executives from head office to leave their jobs for three months and haul luggage full-time to address a stubborn labour shortage that’s disrupting flights. The airline is looking for at least 100 volunteers to carry out shift work at Sydney and Melbourne airports, Chief Operating Officer Colin Hughes wrote in a note to managers ...

  Bloomberg Air New Zealand carried 10% fewer passengers in the last financial year, while volumes remain less than half pre-Covid levels. Passengers carried fell to 7.7 million in the year ended in June 30 from 8.6 million a year earlier, the carrier said in Wellington. The total slumped from 17.7 million in the year through June 2019. New Zealand ...

  Bloomberg British clothing and housewares chain Next Plc is in talks to acquire a minority stake in troubled retailer Joules Group Plc for about £15 million ($18.1 million). The potential investment will be made “at no less than” its current market price, Joules said in a statement responding to a report it was looking to sell a roughly 25% ...

  Bloomberg Shipping in the Taiwan Strait began to return to normal on Monday, though China’s announcement of a new military exercise near the island signaled that risks remain for the industry. More than 40 vessels have transited through a China military drill zone south of Taiwan’s main port since Saturday, according to ship-tracking data compiled by Bloomberg. The latest ...

Bloomberg An Italian centrist party quit its alliance with the Democrats, days after agreeing to join forces in a bid to prevent a right-wing landslide in September elections triggered by the fall of Prime Minister Mario Draghi’s government. The Azione party pulled out because “the pieces just didn’t fit together,” its leader, Carlo Calenda, said during an interview with national ...