Members of the US Congress rightly have been asking how countries that value security and freedom might remove Russia from the United Nations Security Council. In fact, it’s not impossible, as some have argued; or even unprecedented. In 1990, when Iraq’s Saddam Hussein invaded Kuwait and tried to wipe that country from the face of the earth, the Security Council ...

When Porsche tried in 2008 to take over (much larger) Volkswagen AG using opaque financial derivatives, analysts pejoratively dubbed it a “hedge fund” that also makes sports cars. The bid was unsuccessful. Now Porsche is part of Volkswagen, and the parent could almost be described as a “credit giant” with some car brands attached. This structure, though, is doing wonders ...

  You may not feel it yet, but if you’re an American homeowner you’re probably a good bit richer after the dizzying run-up in housing prices last year. But how do you tap into your newfound wealth? And should you? US homeowners gained an average $55,300 in their home’s value (minus their mortgage) in 2021. In some especially hot cities, ...

  Obamacare gave Americans a lot to argue about before it became law in 2010. One contentious question concerned its eventual economic effect, with supporters saying it would invigorate businesses by freeing them from burdensome healthcare costs and opponents warning of a drag produced by tax increases and government bureaucracy. A decade’s worth of data has now rendered a partial ...

  Bloomberg A China Eastern Airlines Corp Boeing Co 737-800NG plane carrying 132 people crashed in China’s southwestern province of Guangxi. According to FlightRadar24, China Eastern flight MU5735 was traveling from Kunming to Guangzhou, and radar tracking shows the aircraft descending steeply. Eyewitness videos posted to social media showed a forest fire on a mountainside at what was purported to ...

Bloomberg Cathay Pacific Airways Ltd shares jumped to their highest intraday level since June 2020 on Monday morning as Hong Kong Chief Executive Carrie Lam announced that a flight ban on nine countries would be lifted and mandatory quarantine eased to seven days from 14. The shares rose as much as 4.9% before paring their gain to 0.8% at the ...

Bloomberg Delta Air Lines Inc will give most of its 75,000 employees a 4% pay increase as the carrier emerges from the coronavirus pandemic’s drubbing. Flight attendants and ground employees — such as ticket and gate agents, baggage handlers and mechanics — are eligible for the raise, which takes effect from May 1. It applies to employees worldwide except those ...

  Bloomberg A Spanish truck-driver strike going on for the last week is now delaying deliveries by Inditex SA, the world’s largest clothing retailer. Inditex is warning clients that buy products on its Zara website that shipments could suffer delays due to the strike. The strike over fuel prices has been disrupting supply chains in the country. Last week, a ...

  Bloomberg Ted Baker shares gained the most in almost two years after Sycamore Partners Management said it’s considering making an offer for the UK fashion brand, which lost more than 90% of its value in the past four years. The private equity firm said the considerations are in the early stages and there’s no certainty it will make an ...

Bloomberg Canadian retailers posted stronger-than-expected revenue gains in January, though business waned in February, according to data from the country’s statistics agency. Sales jumped 3.2% in January, led by a pick-up in auto sales but with broad-based increases across sectors, Statistics Canada said in a release. That momentum didn’t continue into February, when receipts fell 0.5%, according to preliminary estimates ...