Pension funds are supposed to be among the least exciting financial institutions. Their job is to make long-term investments to meet the predictable needs of future retirees. They should be immune to short-term shocks. Yet last week in the UK, they were the center of an incipient financial crisis. What led to this was a novel variation on a ...

  Bloomberg Just over 1,000 people have signed up for Cathay Pacific Airways Ltd.’s flight attendant recruiting drive, around half of the 2,000 targeted by the end of 2023, underscoring the labour challenges the airline faces as it seeks to fully restore flights in and out of the Asian financial hub. Cathay said it was satisfied with the expressions of ...

  Bloomberg Levi Strauss & Co reported quarterly revenue that fell short of expectations, and the denim maker also reduced its outlook for the full year, citing economic uncertainty along with supply-chain disruptions and a stronger US dollar. Revenue in the fiscal third quarter ended August 28 was $1.52 billion, below the $1.6 billion average estimate of analysts surveyed by ...

  Bloomberg Deliveries of Lockheed Martin Corp.’s F-35 will resume after the Pentagon’s acquisitions chief issued a “national security” waiver from a ban on a Chinese alloy used in a component on the fighter jet. The component — a magnet in a device supplied by Honeywell International Inc. — has been used in the plane since 2003. After the Chinese ...

  Bloomberg United Airlines Holdings Inc. is planning to restart Hong Kong flights as soon as January, according to people familiar to the matter, becoming one of a handful of major airlines to resume passenger flights to the city, which has largely been cut off to the outside world since the start of the pandemic. The Chicago-based carrier is evaluating ...

Bloomberg American Airlines group Inc’s top commercial officer said the airline hadn’t focused on customers in creating its earlier corporate partnerships, validating the suspicions of many disgruntled air travellers. Testifying with unusual candour during Justice Department’s antitrust trial seeking to block American’s partnership with JetBlue, American’s chief commercial officer, Vasu Raja, said customers were an afterthought compared to business and ...

  Bloomberg The US will begin redirecting travellers from Uganda to five airports to screen for Ebola, as the East African country grapples with an outbreak of a strain of virus for which there is no approved vaccine. The notice is not a travel ban or suspension on those coming from Uganda, but is being put in place out of ...

  Bloomberg President Vladimir Putin’s flagship bridge to Crimea was severely damaged in a blast that hit a fuel train and caused the partial collapse of the only road link running from the Russian mainland to the Black Sea peninsula that Moscow annexed in 2014. Local authorities raced on Saturday to reopen one lane of the Kerch Strait Bridge to ...

Bloomberg South Korea said its military will strengthen security cooperation with the US and Japan, including the deployment of “US strategic assets,” after Kim Jong Un’s North Korea fired two short-range ballistic missiles Sunday. The provocations, in violation of United Nations Security Council’s resolutions, will strengthen sanctions against North Korea, worsen public welfare and make the regime “very unstable,” South ...

Bloomberg The return of Parliament this week is fraught with danger for UK Prime Minister Liz Truss. In her first month in office, the 47-year-old premier managed to roil the financial markets, alienate a swath of her lawmakers and sink the Conservative Party in the polls with the biggest set of unfunded tax cuts in half a century. Since the ...