In the space of a few short months, the prevailing narrative on US inflation has veered from “It’s transitory” to “We have a problem.” The Federal Reserve took another step towards acknowledging this, raising its policy rate by 50 basis points and leading investors to expect a faster pace of tightening from now on. That’s fine, you might say, ...

Bloomberg Qantas Airways Ltd revived a plan to start direct flights connecting Australia’s east coast with New York and London as it finally ordered Airbus SE jets for the ultra-long services. The airline said it’s buying 12 A350-1000s that can fly non-stop from Australia to any city in the world. Commercial services will start from Sydney in late 2025, Qantas ...

  Bloomberg Korean Air Lines Co reported preliminary revenue that’s almost back at pre-Covid levels on a quarterly basis as the carrier’s strong presence in cargo makes up for still-weak passenger traffic. The South Korean airline posted revenue of 2.81 trillion won ($2.3 billion) and a record first-quarter operating profit of 788.4 billion won, according to a statement. The airline’s ...

  Bloomberg Next Plc said store sales soared in the first quarter as they stayed open following the end of pandemic restrictions, even as inflation squeezes shoppers’ disposable income. The British clothing and housewares chain said sales jumped by 285% in a strong start as it reiterated that it expects annual pretax profit of $1.07 billion in the year through ...

  Bloomberg Delta Air Lines Inc and Australian regional carrier Rex are teaming up to access each other’s networks, a partnership coup for the diminutive Sydney-based carrier as it tries to establish itself as a rival to Qantas Airways Ltd. Rex’s passengers across Australia will be able to connect to Delta’s network in a single booking by joining the US ...

  Bloomberg Mumbai International Airport Ltd has raised $750 million from a private bond sale to Apollo Global Management Inc after delaying a planned note issue. The operator of India’s No. 2 airport, controlled by the country’s richest man, sold 7.25-year dollar notes to funds managed by Apollo in order to refinance existing debt and fund new capital expenditure, according ...

  Bloomberg Australian retail sales jumped for a third consecutive month to hit a record, driven by a spending revival on the nation’s flood-ravaged east coast and highlighting the economy’s strong underlying momentum. Sales surged 1.6% in March to A$33.6 billion ($23.9 billion), more than triple economists’ forecast for a 0.5% increase, Australian Bureau of Statistics (ABS) data showed. The ...

Bloomberg Sweden and Finland are starting to win assurances of help if threatened by Russia in the interim period between an expected application to join defense alliance Nato and an eventual entry. The two Nordic countries, which began to seriously consider joining the North Atlantic Treaty Organization (Nato) after Russia’s invasion of Ukraine, have worried of an insecure “gray period” ...

Bloomberg Russian forces have been slowed by supply line and morale problems in the southern and eastern parts of Ukraine, the Pentagon’s chief spokesman said. The European Union proposed a ban on Russian crude oil phased in over the next six months, part of the bloc’s sixth package of sanctions as President Vladimir Putin seeks to cement military gains in ...

Bloomberg Preceded by a group of carnival drummers, Federico Gutierrez and his entourage progressed slowly into a working-class neighbourhood of Bogota, the pulse of the drums drowning out insults yelled by groups of onlookers. Gutierrez is running for Colombia’s presidency, and the capital’s grittier districts are the heartland of his main rival, Gustavo Petro. But the candidate known as “Fico” ...