Bloomberg Uniper SE plans to keep importing natural gas from Russia for another decade, even as Europe seeks to cuts its energy dependency on the country. The German utility — one of the continent’s largest buyers of Russian gas — has contracts with Gazprom PJSC that will expire in the middle of 2030s, CEO Klaus-Dieter Maubach said at Uniper’s ...

All happy families are alike; each unhappy family is unhappy in its own way. Leo Tolstoy’s famous opening in Anna Karenina applies also to alliances. Right now, Nato is unhappy with Turkey, the European Union with Hungary. For the sake of all involved — including cherished relatives such as Sweden and Finland — let’s hope these families sort things out. ...

The remarkable strength of the UK consumer is finally starting to crack. Higher bills for household energy, more expensive fuel, pricier groceries and rising interest rates are beginning to take their toll on shoppers. Consumer confidence slumped in April, as energy prices soared and national insurance contributions rose. GfK’s measure of consumer confidence slumped to -38, a level last seen ...

  Deciphering China has become nearly impossible. Officials continue to insist on the viability of their Covid-zero strategy, curtailing people’s movements and sealing borders even as the rest of the world has all but moved on from the pandemic. Trying to predict when Beijing will give up on this widely criticised policy is pointless. Of key interest now is what’s ...

  For months now, with the US distracted by war in Europe, North Korean dictator Kim Jong-un has largely been free to accelerate his weapons programs. President Joe Biden — along with US allies Japan and South Korea — needs to start making life harder for him. Kim’s scientists have conducted 16 missile tests since the beginning of the year, ...

  Bloomberg Sri Lanka’s new Prime Minister Ranil Wickremesinghe wants to sell the national airline, saying the country’s poorest people who’ve never flown shouldn’t be saddled with its losses. Finding a buyer might not be easy. SriLankan Airlines Ltd, which prior to the pandemic serviced 126 destinations in more than 60 countries, lost $125 million in the year through March ...

  Bloomberg JetBlue Airways Corp is working with consultants to set targets for a new round of cost cuts, even as it prepares to meet surging consumer demand for travel. The airline expects to see “progressive improvement” in its cost performance throughout the rest of this year, following an operational meltdown in April that led to hundreds of flight cancellations ...

  Bloomberg A new Australian airline backed by US investment firm 777 Partners pushed back its launch toward year-end, reflecting the difficulties of starting from scratch during Covid-19 and the global supply-chain crunch. Bonza’s first flights will be in the third or fourth quarter of 2022, as much as six months later than originally planned. Nailing down agreements with domestic ...

Bloomberg More people are flying in more expensive cabins for leisure trips despite airfares rising on surging oil prices and demand, and that’s helped offset a slower recovery in business travel, according to the International Air Transport Association (IATA). reporters in Singapore. “Consumers had disposable income during the two years of the pandemic. People have saved and therefore they are ...

  Bloomberg The black box for a China Eastern Airlines Corp jet that crashed earlier this year suggests the Boeing Co plane took an intentional nosedive, the Wall Street Journal said. Data recovered from the black box suggest that someone in the cockpit input controls that sent the plane into its deadly descent, the Journal reported, citing people familiar with ...