Southwest Airlines Co. reported a third-quarter profit greater than Wall Street expected as business sales strengthened, even as the carrier warned that cost pressures will extend into next year. Adjusted earnings were 50 cents a share in the period, the company said in a statement, compared with the 44-cent average from analyst estimates compiled by Bloomberg. Revenue of $6.22 billion …

China Southern Airlines Co. has added the Boeing Co. 737 Max back to its schedule in what would be the model’s first commercial passenger flight in China since regulators grounded it in 2019. The airline plans to deploy the Max from October 31 on at least one daily roundtrip from Guangzhou to both Wuhan and Zhengzhou, according to its booking …

Nigeria’s central bank will replace high-value currency notes starting December 15 in a bid to mop up excess cash, rein in inflation and target rising insecurity in Africa’s largest economy. The country’s banking regulator plans to issue redesigned 200, 500 and 1,000 naira notes, central bank Governor Godwin Emefiele said at a briefing in Abuja, the capital. The old notes …

The yuan leaped over the Australian, Canadian and Swiss currencies to become the fifth most traded currency in the world, according to the Bank for International Settlements’ Triennial Central Bank Survey. The Chinese currency was involved in 7% of all trades in 2022, compared with 4% three years ago, Basel-based BIS said in a report. Meanwhile, total daily trades rise …

Lloyds Banking Group Plc missed estimates in the third quarter after the lender took charges for bad loans as it warned of a darkening outlook for the UK economy. Pretax profit falls more than expected to £1.5 billion ($1.7 billion) after the bank took its biggest charge since the Covid-19 pandemic to cover loans that could default. The £668 million …

The Bank of Canada signalled it’s nearing the end of its interest-rate hiking campaign, potentially providing a model for counterparts elsewhere as recession risks mount. The central bank unexpectedly slowed its pace of rate increases, amid concern Canada’s economy is already flirting with a recession. Governor Tiff Macklem boosted the benchmark overnight lending rate by 50 basis points, instead of …

It’s too soon to write off the dollar’s dominance as the US rate-hike cycle may not be near its peak. That’s the firm conviction of money managers at JPMorgan Asset Management and Fivestar Asset Management even after a gauge of the greenback touched a one-month low. Signs that aggressive Federal Reserve tightening is starting to take a toll are fuelling …

It was supposed to be the silver lining to a year of brutal losses. As bond-fund managers watched the market value of their portfolio decline rate hike after rate hike, one thing was certain: companies would soon have to return to the market offering juicier yields. But for all the yield concessions companies have had to offer investors to raise …

Investors are pouring large sums into equities but the rally has limited room to run as the Federal Reserve remains steadfast on hiking interest rates, according to Bank of America Corp (BofA) strategists. Global equity funds saw about $23 billion of inflows in the week through October 26, the largest amount since March, according to a note from the bank …

Chris Bryant Fed up with having his private jet tracked by climate activists typing on Twitter, Bernard Arnault has sold the capacious Bombardier 7500 aircraft belonging to his luxury goods company LVMH Moet Hennessy Louis Vuitton SE. But the world’s third-richest man isn’t about to join the masses flying commercial (quelle horreur!). Instead, Arnault plans to rent private aircraft: “The …