In July 2008, with the global financial crisis trashing the world’s economy, then US Treasury Secretary Henry Paulson asked legislators for the power to grant unlimited credit to his country’s mortgage agencies: “If you have a squirt gun in your pocket you may have to take it out; if you have a bazooka in your pocket, and people know ...

  Bloomberg Air France-KLM vowed to expand low-cost and transatlantic flights after raising 2.26 billion euros ($2.4 billion) to repay a chunk of the state aid that helped the carrier survive the Covid-19 crisis. The proceeds of the rights issue launched last month will be used to reimburse about 1.7 billion euros of bonds issued last year and held by ...

  Bloomberg IndiGo, India’s largest airline, looks close to inducting its first freighter plane as it seeks to capture the boom in air cargo driven by the pandemic. An IndiGo CarGo-branded aircraft was spotted at Seletar Airport in Singapore’s north east. Seletar is a much smaller airport than Changi Airport, serving mainly private jets, a few regional commercial flights and ...

  Bloomberg Cathay Pacific Airways Ltd flagged it will post a narrower first-half loss than the previous year on continued strong cargo demand and cost-cutting measures. “Our consolidated losses in the first half of 2022, while substantial, are expected to be lower than the consolidated losses reported in the first half of 2021,” Ronald Lam, the airline’s chief customer and ...

  Bloomberg Canada plans to end Covid-19 vaccine mandates for domestic air and rail travel, as well as outbound international travel, CBC News reported, citing people with direct knowledge of the decision. An announcement was expected on Tuesday. The government may reinstate the vaccine requirement if there’s a new variant of the virus, CBC reported. Prime Minister Justin Trudeau’s government ...

  Bloomberg With the major tourism market of China still mostly sealed off from the rest of the world, AirAsia, the budget carrier of Capital A Bhd, is turning to India to make up the shortfall. “India is definitely a very, very important market,” AirAsia Malaysia Chief Executive Officer Riad Asmat said on the sidelines of the Aviation Festival Asia ...

  Bloomberg Louis Vuitton is set to open its first restaurant in France, just in time for the summer season. The fashion brand owned by the luxury conglomerate LVMH SE is opening the dining spot, to be called Mory Sacko at Louis Vuitton, in the Riviera town of Saint-Tropez on June 17. The 40-seat spot with outdoor dining will be ...

Bloomberg President Volodymyr Zelenskiy said the war may stagnate if deliveries of advanced weapons from Ukraine’s allies don’t accelerate, and that the fighting is “very fierce” in the east. Russia continued its assault on Sievierodonetsk, shelling the city and surrounding villages as it pushes to capture the Ukrainian government’s last major foothold in the eastern region of Luhansk. The regional ...

Bloomberg Moves and posturing by Nato may have “somehow provoked, or not prevented” Russia’s invasion of Ukraine, according to Pope Francis, who reiterated a previously expressed view about the alliance in remarks published Tuesday by daily La Stampa. Speaking during a pool interview with a group of newspapers, the Pope condemned the brutality and ferocity of Russian troops in Ukraine, ...

Bloomberg Boris Johnson accused lawyers representing asylum seekers of “abetting” criminal gangs as he defended his plan to start deportation flights to Rwanda, a policy that has drawn condemnation from UK religious leaders, some ruling Conservative MPs and even the heir to the throne. The UK government argues that sending migrants it regards as having arrived illegally in Britain to ...