“You’ve got to get this done.” Hardly the words of encouragement UK pension fund managers wanted from the governor of the Bank of England. Speaking in Washington late on Tuesday, Andrew Bailey insisted they wind up excess leverage in gilts before the BOE ends its support for the country’s government bond market. That means the pension funds have just three ...

  The US corporate earnings season could prove to be half decent, but don’t expect the market to celebrate. The prospect of a looming recession is becoming too real for investors to get hung up on last quarter’s success. Consider the economic backdrop. Macroeconomic data suggest that key parts of the US economy have held up until now, which makes ...

  AI’s creative abilities are outstripping its driving skills. While self-driving car technology is going nowhere, there’s been a remarkable explosion in research around generative models, or artificial intelligence systems that can create images from simple text. In just the past week, AI researchers from Meta Platforms Inc. and Alphabet Inc.’s Google have taken an extraordinary leap forward, developing systems ...

  Although the matter is reportedly still up in the air, I’m hoping the Supreme Court releases its report on the investigation of a draft opinion in last spring’s abortion case. But I doubt we’ll learn the identity of the leaker. We never do. I consider the leak contemptible, but we mustn’t be starry eyed. The court has leaked for ...

  Bloomberg Qantas Airways Ltd has surged back to profitability on booming travel demand after most pandemic-era curbs were dismantled, helping shore up Alan Joyce’s position as chief executive officer and sending the shares to their biggest gain in two-and-a-half years. First-half underlying profit before tax is seen at A$1.2 billion to A$1.3 billion ($816 million) — ending a streak ...

  Bloomberg European Union (EU) nations backed off from a confrontation over what proportion of takeoff and landing slots airlines should be compelled to use this winter. Member states have agreed to a use-them-or-lose-them level of 75% for the airport slots, up from 64% now, as demand rebounds from the coronavirus crisis, according to a statement from the European Council. A ...

Bloomberg LVMH sales jumped as the owner of Louis Vuitton and Christian Dior benefited from wealthy American tourists splurging on luxury goods in Europe. Defying fears of a global recession, sales of LVMH’s fashion and leather goods soared 22% on an organic basis in the third quarter, the company reported. Analysts had expected a gain of 16%. Even so, the ...

Bloomberg PepsiCo Inc. said its playbook for battling inflation is still working, with price hikes fuelling double-digit gains in sales despite lower volumes of snack purchases. The company beat profit estimates for the third quarter and raised its forecast for the year. That’s a positive sign for investors at the start of an earnings season where anxieties are running high ...

  Bloomberg Starbucks Corp. violated federal law in Kansas and Missouri by firing pro-union employees, stepping up enforcement of its dress code in response to union organising and asking for police to disperse workers with picket signs, a National Labour Relations Board judge ruled. The agency judge’s decision requires Starbucks to offer reinstatement with back pay to four employees, and ...

  Bloomberg Plant-based burger maker Beyond Meat Inc. is conducting further layoffs following a round of cuts made in August, according to people familiar with the matter. It wasn’t immediately clear how many workers were terminated. Beyond Meat asked employees to work from home and restricted access to documents. Management then set up individual calls to inform some workers that ...