The US dollar has surged almost 14% from its low last year in trade-weighted terms. This has led to a huge terms of trade shock (the price of exports compared with the price of imports) affecting any country that imports a lot of energy, which trades in dollars. On top of that, in Europe and the UK, at least, ...

  The Federal Reserve is inching towards acknowledging how painful its inflation fight is likely to be, but it’s still a lot closer to the optimists than the pessimists. On a day when it raised interest rates by 0.75 percentage point to a range of 3% to 3.25%, the Fed also released economic projections showing that its median forecast for ...

Bloomberg United Airlines Holdings Inc faces potential disruption in one of its most lucrative overseas markets as 300 workers at London’s Heathrow airport begin voting in a strike ballot over pay. The poll of staff employed in operations, customer services and baggage handling will run until October 11, the Unite union said in a statement. United’s UK employees are in ...

  Bloomberg Airbus SE won a $4.85 billion deal to supply 40 airliners to a unit of China Southern Airlines Co, cementing its position in one of the world’s biggest aviation markets at the expense of chief rival Boeing Co. Xiamen Air, which has been an all-Boeing operator, agreed to buy Airbus’s A320neo narrow-body jets, according to a stock exchange ...

  Bloomberg Taiwan may scrap its three-day quarantine requirement for arrivals around mid-October if the pandemic continues to ease, as the island joins other regional holdouts moving to reopen their borders to travelers. The government will monitor the situation for another week, and plans to announce the easing two weeks ahead of the scheduled implementation, meaning the new rules would ...

  Bloomberg American Airlines Group Inc says the carrier’s revenue expansion is coming from an increasing number of trips that mix business and leisure. The number of such trips has almost doubled over about the last nine months and now accounts for about 50% of revenue, Chief Commercial Officer Vasu Raja said at Skift Global Forum in New York. Passengers ...

  Bloomberg Walmart Inc, the largest private-sector employer in the US, aims to hire 40,000 seasonal workers for the holiday season this year — a sizable decrease from 2021. A year ago, the retail giant said it would add 150,000 jobs, many of them permanent, during the year’s busiest shopping season. In the coming months, Walmart will start by offering ...

  Bloomberg Australia’s Qantas Airways Ltd is under fire from customers after scrapping vegetarian meal options on short-distance routes, adding to a barrage of criticism over delayed and canceled flights and lost luggage. The move sparked anger after a former TV presenter took to Twitter to complain about the lack of vegetarian options on his two-hour flight from Adelaide to ...

  Bloomberg Amazon.com Inc lost a bid to exclude top executives including billionaire founder Jeff Bezos and CEO Andy Jassy from having to testify in a Federal Trade Commission probe. The company filed a petition with the FTC last month, arguing that the agency’s information and interview requests were “unduly burdensome.” In an order, the FTC rejected that request, saying ...

  Bloomberg Lidl is raising wages for its UK staff to overtake Aldi and become the highest-paying supermarket in Britain. Starting next month Lidl will pay employees £10.90 ($12.38) an hour outside London, up from £10.10, and £11.95 within the capital, up from £11.30 previously, the company said. That compares with its rival discounter Aldi which pays at least £10.50 ...