Bloomberg London’s Heathrow airport said it saw its first full quarter of passenger growth since 2019 as restrictions eased and travellers returned to flying. Traffic reached 28% of pre-pandemic levels in the third quarter, the airport said as it reported financial results. However, 3.4 billion pounds ($4.7 billion) in losses since the start of the Covid outbreak “underscore the long …

Bloomberg United Airlines Inc told a federal judge the company is spending millions on paid leave for unvaccinated pilots because their colleagues “refuse to risk their safety” by flying with them. The leave is costing United about $1.4 million every two weeks — money it’s unlikely to recover even if it wins a lawsuit challenging the airline’s vaccine mandate for …

Bloomberg The Biden administration issued new rules for travellers to the US requiring proof of full vaccination against Covid-19 in addition to a recent negative test for the virus. People from countries with low supplies of vaccines who aren’t traveling on tourist visas, and those under 18, will be exempt from the vaccine requirement, senior administration officials said. US citizens …

Bloomberg Shoemaker Allbirds and its existing shareholders are seeking to raise up to $269 million in an IPO, adding to a fast-paced season for consumer-oriented listings in the US The San Francisco-based company is marketing 15.4 million shares for $12 to $14 each, according to its filing with the US Securities and Exchange Commission. Existing backers are selling an additional …

Bloomberg Thrasio Holdings Inc, an aggregator of Amazon.com Inc products, has raised more than $1 billion in a private funding round led by technology investor Silver Lake. Silver Lake, a new investor in Thrasio, was joined by existing investors including Advent International, Upper90, Oaktree Capital Management and Peak6 in the Series D financing, according to a statement. The round valued …

Bloomberg As executives from JPMorgan Chase & Co, Citigroup Inc, Deutsche Bank AG and other lenders prepare for the most important UN climate summit in six years, their companies continue to help provide almost as much money for fossil fuels as for green projects. Scientists have made clear that time is running out to prevent a climate catastrophe. Yet this …

Bloomberg Untangling trillions of dollars-worth of loans and other financial contracts from Libor is a complex, expensive and time-consuming job. So, finance giants are turning to artificial intelligence to simplify and speed up a task mandated by regulators — and spare human lawyers some serious drudgery. Morgan Stanley figures it’s saved legal staffers 50,000 hours of work and $10 million …

Bloomberg HSBC Holdings outlined a bullish outlook for the months ahead fuelled by likely increases in interest rates and said it would soon kickoff a higher-than-expected share buyback. Adjusted pretax profit rose to about $6 billion in the third quarter, beating estimates, the London-based lender said. Revenue climbed slightly in the third quarter for the first time in almost two …

Bloomberg Actively pushing for a green transformation of the economy could undermine the effectiveness of the Swiss National Bank’s (SNB) monetary policy, Governing Board Member Andrea Maechler said. While the SNB takes climate change very seriously and is buying green bonds as part of its reserve management, officials need to remain within the bounds of their mandate, Maechler said in a …

Bloomberg Zimbabwe’s government has ruled out adopting the US dollar as the country’s sole official currency, terming it “suicidal,” the state-run Sunday Mail reported, citing Finance Minister Mthuli Ncube. Ncube said such a move could result in foreign currency deficits and deflation for the African nation. “We cannot adopt the United States dollar alone as the official currency,” Ncube told …