The European Central Bank (ECB) has a problem, and, no, it is not the exchange rate. The recent appreciation of the euro may have caught all the headlines, but it pales in comparison with the broader challenge the pandemic poses for monetary policy. Rather than simply talking down the currency, the ECB must take more substantive steps to support economic ...

Japan’s likely next prime minister is a huge fan of Shinzo Abe. That doesn’t mean Yoshihide Suga is a carbon copy. Indeed, the shades of difference between the two men on some key issues are important, particularly when the economy in question is the world’s third-largest, a critical part of global manufacturing and trade, and a pioneer of ultra-low interest ...

Bloomberg Polish e-commerce group Allegro plans to raise about 1 billion zloty ($266 million) in an initial public offering in Warsaw, becoming the latest web-based company to take advantage of a buoyant market for the tech sector. Allegro’s private equity owners Cinven, Permira and Mid Europa Partners also plan to sell shares in the IPO, the company said in a ...

Bloomberg French Finance Minister Bruno Le Maire said he would guarantee the survival of Air France after his Dutch counterpart warned more cost cuts may be needed to get through the deep industry slump. France will “do what is necessary to guarantee the survival of Air France,” Le Maire said on France 2 television. “We’ve already done a lot, and ...

Bloomberg When the Covid-19 crisis hit the airline business this year, Deutsche Lufthansa AG was planning to phase out the half-dozen aging MD-11 freighters that remain in its fleet by the end of 2020. Then cargo rates skyrocked. The virus destroyed demand for air travel, and as airlines grounded their fleets they also created a shortage of air-cargo space by ...

Bloomberg Flying business class isn’t what it used to be. Efforts to minimise human interaction and reduce the risk of Covid-19 infection are taking the shine off the most expensive seats onboard commercial aircraft. Gone are the multi-course banquets and warm personal service, once the hallmarks of carriers like Singapore Airlines Ltd and Cathay Pacific Airways Ltd. These days, what’s ...

Bloomberg Cathay Pacific Airways Ltd is still burning through as much as HK$2 billion ($258 million) a month and will continue to do so until the market recovers from the coronavirus crisis, the company said as it reported dismal August traffic figures and reiterated the need to restructure. “We are weathering the storm for now, but the fact remains that ...

Bloomberg Thai Airways International Pcl, the nation’s flagship carrier, got court approval for its business restructuring on Monday. The Central Bankruptcy Court decided that the airline can proceed with its business reorganisation plan, a crucial step forward for the embattled company, which has around 350 billion baht ($11 billion) of debt, according to Chansin Treenuchagron, its acting president. The flagship ...

Bloomberg Kremlin-backed candidates swept most major contests in Russian regional elections over the weekend but supporters of opposition leader Alexey Navalny claimed wins in two Siberian cities, including the one where he was poisoned last month. “The authorities have shown they control the situation in the country,” said Alexei Makarkin, deputy director of the Center for Political Technologies in Moscow. ...

Bloomberg French President Emmanuel Macron backed Angela Merkel’s demand that Russia clarify the poisoning of opposition leader Alexey Navalny, calling the attack an “assassination attempt” as two more European laboratories found traces of nerve agent Novichok. The comments ratchet up tensions between the European Union and Russian President Vladimir Putin over accusations that Navalny was targeted with the weapons-grade substance. ...