Bringing manufacturing back to Europe — what’s called “reshoring” or “onshoring” — is a reasonable, if not vital, business strategy. Over the previous two decades, manufacturers shifted production of everything from cars to cosmetics primarily eastwards to China, in an attempt to cut labor costs and protect margins. The supply chain snarls brought on by geopolitics and Covid-19 are now ...

  Wall Street’s focus seems to have changed in recent days from how fast and how high the Federal Reserve will raise interest rates to the timing of the next recession. The two are not mutually exclusive. The consensus is that the Fed is so far behind that curve when it comes to increasing rates that it will have no ...

  The law of conservation of energy is ingrained in every high school science student: Energy can’t be created or destroyed, only transformed or transferred. The global natural gas market represents the political version of that primary tenet of thermodynamics. Europe’s demand for liquefied natural gas (LNG) to replace Russian imports has now been transferred to the US. Until now, ...

  Bloomberg Delta Air Lines Inc circled back to the public-relations runway after calling Covid-19 an “ordinary seasonal virus” as the airline announced the end of the mask mandate on flights. The airline used the phrase in a statement saying it was relieved when a court lifted the federal mask mandate on air travel, drawing criticism from Twitter users for ...

Bloomberg Auckland Airport has experienced a bounce in international visitor numbers, and is optimistic of further increases as New Zealand eases border restrictions, Chief Executive Officer Carrie Hurihanganui said. Foreign arrivals at the nation’s busiest airport plummeted when the border was shut in March 2020, but have started to recover following the removal of self-isolation requirements for residents returning home ...

  Bloomberg L’Oreal SA sales climbed as the cosmetics giant benefited from higher demand for its luxury products, weathering virus restrictions in China. The French company’s sales rose almost 14% on a like-for-like basis in the first quarter, beating analyst estimates. Three of the four main divisions grew by double-digit percentages. The stock advanced as much as 2.8% and traded ...

  Bloomberg Most major US airlines are no longer requiring travellers or employees to wear face coverings on domestic and some international flights. The decisions came hours after a US judge overturned a federal mandate for passengers to cover their faces. The US Transportation Security Administration said after the court ruling that it would stop requiring passengers on planes, trains ...

  Bloomberg Hong Kong’s reopening to the rest of the world is being slowed by the government’s bans on airlines for carrying infected passengers, with 11 routes in total suspended, the most since a peak in January. Hong Kong suspends routes for seven days if three or more passengers on a flight are found to be infected with Covid-19 upon ...

  Bloomberg Miami International Airport saw the biggest increase in passenger seat capacity from pre-pandemic levels amid a surge in domestic tourism in the Sunshine State. Airport capacity in Miami rose 23% in April from the same month in 2019, according to a report from OAG Aviation Worldwide Ltd that examined the world’s largest hubs. Orlando saw capacity rise 2.4% ...

Bloomberg Russia has launched what Foreign Minister Sergei Lavrov hailed as a second phase of the war in Ukraine, and early indications are it could go better for Russia than the first. After a ferocious night of artillery bombardment along a 300 mile (482 km) front line in the east, Russian forces took a pocket of territory including the city ...