The United States government will find out soon enough what “moral hazard” means. Clearly it does not know already, or President Joe Biden would not have announced that his administration would forgive US student debt worth around 1.6% of GDP. It’s natural to ask, as critics have, whether the new policy is fair. Should regular taxpayers subsidise those who ...

  Bloomberg Air New Zealand posted its third straight annual loss but indicated the worst is over and it expects earnings to improve now that borders have reopened. The Auckland-based airline announced a loss before significant items and tax of NZ$725 million ($450 million) for the year ended on June 30 compared with a NZ$444 million loss a year earlier. ...

  Bloomberg Bed Bath & Beyond Inc shares jumped 18% after a report that the home goods retailer has selected a lender to provide financing as it seeks to boost liquidity. The company has picked a lending proposal after talks with investors for a new line of credit, Bloomberg reported, citing people with knowledge of the private discussions. Bed Bath ...

Bloomberg Qantas Airways Ltd Chief Executive Officer Alan Joyce defended the airline’s performance and pushed back against calls for him to resign after months of travel chaos, with a post-pandemic surge in demand plagued by flight delays, cancellations and lost luggage. “I think I’ve had more resignation requests than any other CEO or public figure out there,” Joyce, who has ...

  Bloomberg England’s elite football clubs wanting to travel to games by private plane are having to do something unfamiliar: get in line. Rising demand for chartered air travel in the UK means many English Premier League clubs are seeing their plans for getting to and from away matches disrupted, an issue that some coaches have already blamed for disappointing ...

  Bloomberg A sportswear company founded by an Olympic gold medalist saw the biggest surge in growth in a ranking of the 100 most valuable brands in China this year. Athletic apparel maker Li Ning Co had its brand value jump 66% to $3.4 billion, the quickest pace in the annual list compiled by Kantar BrandZ. Its rise was fuelled ...

  Bloomberg Macy’s Inc cut its full-year forecast for profit and revenue, citing tighter consumer budgets and an industrywide inventory glut that is leading to steeper markdowns. Earnings per share, excluding some items, are now expected to be at least $4 for the fiscal year, compared with a prior outlook of at least $4.53, Macy’s said in a statement. The ...

Bloomberg Taiwan welcomed its third US congressional visit this month, as Senator Marsha Blackburn began a three-day trip to the island that’s likely to further test Washington’s tense ties with Beijing. Blackburn, a Republican on the Senate’s Armed Services Committee which oversees defense policy, met Taiwan President Tsai Ing-wen on Friday morning, after landing in Taipei the previous evening. Days ...

  Bloomberg Representatives from Turkey, Finland and Sweden met on Friday and agreed on further talks as the Nordic countries seek to convince Turkey to ratify their applications to join defense alliance Nato. The meeting of officials took place in Vantaa, Finland, on Friday, the Finnish government said in an emailed statement. Turkey remains one of seven members of the ...

  Bloomberg President Joe Biden’s approval rating rose to 44% in the latest Gallup poll, the highest in a year and a fresh sign he and his party are gaining political ground ahead of November midterm elections. Biden’s approval rating in August jumped six percentage points from July, when it hit a low of 38% in Gallup’s survey. But even ...