Promoting competition is a laudable goal, one that President Joe Biden has rightly made a priority for his administration. Yet in its efforts to apply Biden’s directive in the banking industry, the Federal Deposit Insurance Corporation could well achieve the opposite result — and deepen the anticompetitive moat that already surrounds the country’s largest financial institutions. Citing the president’s ...

  Prices rose in the US by 8.3% in the year to April, only a little less than the increase of 8.5% in the year to March. Most economists had expected a bigger decline. Inflation, it seems, might have peaked, but the vital question is how quickly it will fall back to an acceptable level. At the moment, the answer ...

Bloomberg Ryanair Holdings Plc issued a guardedly optimistic outlook for the vital summer season, cautioning that a strong bookings trend could still be disrupted by a number of factors including Russia’s invasion of Ukraine. Europe’s biggest discount airline reported a narrower loss for the 12 months through March in a statement, while saying only that it’s targeting “reasonable profitability” this ...

  Bloomberg Made.com Group Plc shares plummeted after the UK online furniture retailer revised guidance for the year and said its chief financial officer is leaving. Made said the start of the year has been worse than anticipated and it expects the market to remain “highly challenging” for the rest of 2022. The shares fell 20% on Monday to the ...

Bloomberg Walmart Inc is stepping up efforts to entice college graduates by unveiling a fast track to jobs as store managers — positions that typically pay more than $200,000 a year and have traditionally taken years to get. A new “College2Career program” will provide classroom training, hands-on experience and mentoring for recent and soon-to-be graduates, Walmart said. Top performers will ...

Bloomberg Instacart Inc, a 10-year-old grocery delivery startup that was once one of the most highly valued of its gig-economy generation, is preparing to go public, potentially plunging itself into the volatile stock market as it sets to prove itself in a post-pandemic world. The company has confidentially filed documents with the Securities and Exchange Commission (SEC) to start the ...

  Bloomberg Singapore Airlines Ltd extended its sponsorship of the Formula One’s Singapore Grand Prix for three more years, the national carrier said. The extension will start with this year’s race to be held from September 30 to October 2, the company said in a statement. The city-state said in January it will host the event after a two-year hiatus ...

  Bloomberg Shein, the Chinese fast fashion giant that’s quickly become the third-most valuable startup in the world, is seeing a reality check with sales growth slowing from the lofty heights of the pandemic, just as it faces mounting pressure to live up to a $100 billion valuation. The online-only retailer of inexpensive clothes, beauty and lifestyle products has become ...

Bloomberg Nato members rallied around Finland and Sweden after they announced plans to join the alliance, marking another dramatic change in Europe’s security architecture triggered by Russia’s war in Ukraine. Parliaments in the Nordic nations debated the membership, with a large majority of lawmakers in each country now backing the bid. Over the weekend, most Nato foreign ministers who had ...

Bloomberg Ukrainian Foreign Minister Dmytro Kuleba ruled out potential concessions to Russia that could lead to a cease-fire in the war with Russia and said the European Union faces “moral failure” if it doesn’t approve the nation’s candidacy for membership by June. Kuleba declined to comment on whether French President Emmanuel Macron urged his Ukrainian counterpart, Volodymyr Zelenskiy, to accept ...