India’s official statisticians reported 13.5% growth in the April to June quarter of this year. This meant that the country whooshed into top place as the world’s fastest-growing large economy — and, incidentally, replaced Great Britain as the world’s fifth-biggest economy. Unfortunately, that’s where the good news about India’s growth prospects ends. Those GDP numbers were actually a disappointment, ...

  There were “no limits” to their bonds, declared the leaders of Russia and China earlier this year. More than six months, one messy invasion and a plethora of Western sanctions later, it turns out that perhaps there were a few. The slogan didn’t even appear to surface in the comments by Chinese President Xi Jinping and Russian leader Vladimir ...

  Bloomberg FedEx Corp’s profit warning this week hit a nerve with global markets already jittery over the state of the economy. Shares of the delivery giant sank 21% last week, wiping out $11 billion in market value, and dragging the broader market to its worst week since June, as the results fuelled concern of weaker e-commerce and business-to-business activity. ...

Bloomberg Senator Elizabeth Warren urged federal airline regulators to block JetBlue Airways Corp’s proposed merger with Spirit Airlines Inc. by invoking a rarely used authority from the 1950s to argue that the $3.8 billion deal isn’t “consistent with the public interest.” In a letter to Transportation Department Secretary Pete Buttigieg, Warren, a Massachusetts Democrat, said the agency could use its ...

  Bloomberg Virgin Australia is reluctant to resume long-haul services even as demand for international travel soars, Chief Executive Officer Jayne Hrdlicka said, as the airline seeks to rein in costs and prepares for an initial public offering as soon as next year. “Anything that we did from a long-haul standpoint would have a very high hurdle on it,” Hrdlicka ...

  Bloomberg US aviation regulators struck back at major carriers’ reliability after the head of United Airlines Holdings Inc called the government’s air-traffic system “by far the No. 1” cause of flight delays. United Chief Executive Officer Scott Kirby made the comments in Washington during a conference. Within hours, the Federal Aviation Administration (FAA) issued a statement, including a chart ...

  Bloomberg Amazon.com Inc will let brands and merchants send marketing emails to shoppers, a risky bid to boost sales that could inundate inboxes with spam. The company announced the initiative at the Amazon Accelerate conference in Seattle, where it demonstrates new features to the independent businesses that sell more than half of the products on Amazon.com. Merchants will be ...

  Bloomberg Cathay Pacific Airways Ltd expects to fly one-third of its pre-Covid capacity by the end of the year, up from 25% previously projected as Hong Kong gradually loosens restrictions on travel, including lengthy mandatory quarantine stays. The recovery will take time as Hong Kong’s main airline returns its fleet to service and trains staff after operating at as ...

Bloomberg President Joe Biden said Vladimir Putin would face a “consequential” US response if the Russian president used nuclear or chemical weapons in the war in Ukraine. “Don’t. Don’t. Don’t,” Biden said in an excerpt from an interview with CBS’s “60 Minutes” when asked what he would say if Putin were considering using tactical nuclear weapons or chemical weapons in ...

Bloomberg Turkey is seeking membership to the China-led Shanghai Cooperation Organization as President Recep Tayyip Erdogan attempts to forge alliances with friendly countries in the East. Erdogan made the announcement after attending the SCO summit in Uzbekistan on Friday where he held talks with leaders including China’s President Xi Jinping and Russian President Vladimir Putin. A successful bid would make ...