In May, for the first time in more than three decades, Germany’s storied trade surplus disappeared. Not only is imported natural gas more expensive, but demand in China is falling — neither of which is good news for Germany. Nevertheless, the fallout will be more manageable than many people expect, the Germans included. For decades there has been too much ...

  If the fiascoes at WeWork Inc and Greensill Bank AG were not enough, Klarna Bank AB should serve as another fine reminder that SoftBank Group Corp is the unluckiest whale in a crowded venture capital world. Founder Masayoshi Son somehow always manages to hold the worst cards. The Sweden-based fintech, known for its buy-now-pay-later offering, is in talks to ...

  At their summit in Madrid, Nato’s leaders agreed to add two new members, Finland and Sweden, and to beef up the alliance’s presence in Eastern Europe. Taken together, the moves will greatly enhance Nato’s firepower and strengthen its ability to deter Russian aggression. They also could create new risks, which all member states will need to be attentive to. ...

Bloomberg British Airways is nearing a possible agreement on pay with check-in staff that could head off a strike and prevent further disruption after the carrier scrapped thousands of flights amid a staffing crunch. Talks with the Unite union have progressed and a deal is close, according to a person familiar with the matter who asked not to be named ...

Bloomberg Germany’s richest man is now the largest shareholder in Deutsche Lufthansa AG after reinvesting a chunk of a fortune he made in logistics into Europe’s biggest airline. Klaus-Michael Kuehne raised his stake in Lufthansa to 15.01% from 10.01%, according to a filing, overtaking the German government as the carrier’s biggest shareholder. The state has been selling down its interest ...

  Bloomberg J Sainsbury Plc held its profit forecast for the full year even as it warned that rising inflation means pressure on household budgets will intensify. Britain’s second-largest supermarket chain stuck to its forecast for the full year of underlying profit before tax of £630 million ($764 million) to £690 million. The grocer’s comparable sales, excluding fuel, fell 4% ...

  Bloomberg Hong Kong’s new leader John Lee suspended a system that banned airlines from flying routes if they carried passengers infected with Covid, raising hopes he’ll ease onerous travel curbs that have damaged the city’s status as a financial hub. Starting from Thursday, the so-called circuit breaker mechanism will end until further notice, the government said in a statement. ...

  Bloomberg United Airlines Holdings Inc blamed the US Federal Aviation Administration and the nation’s air traffic control system for exacerbating the issues plaguing the industry, saying the agency has been overwhelmed by the volume of flights. The FAA rejected that criticism in a sharply worded rejoinder. The carrier estimated that more than 50% of its delay minutes and 75% ...

Bloomberg Boris Johnson has resigned as UK prime minister, bringing the curtain down on a tempestuous three years in office marred by a succession of scandals that culminated in the rebellion of his own cabinet and parliamentary group. Johnson, 58, bowed to the inevitable after the mass resignation of members of his government, including Chancellor of the Exchequer Rishi Sunak, ...

Bloomberg President Joe Biden accused former President Donald Trump of “dismissing and ignoring the forgotten people he promised to help” in a unusually blunt attack, indicating that the White House may be trying to turn the midterm elections into a referendum on his predecessor. Biden, at an event in Cleveland, slammed Trump repeatedly during his remarks unveiling new regulations governing ...