The head of the Bank for International Settlements (BIS), Agustin Carstens, set out a dark vision for our financial future, quoting Goethe’s “Faust” and claiming that the “soul” of money was at stake. He warned that the proliferation of unregulated cryptocurrencies and the spread of Big Tech firms into payments risked damaging consumer trust and splitting the monetary system. ...

In cyberwarfare, the toughest question to answer definitively is “Who did it?” It’s no surprise then that Microsoft Corp avoided the attribution on everyone else’s lips in its analysis of cyberattacks on Ukraine. That would be Russia. But several clues suggest they not only came from the Kremlin but will follow a pattern of spilling into other countries in Europe ...

  About a year ago around this time, on impulse, people bought a Nintendo Switch — and they’ve never looked back. Stuck indoors for months at a time in 2021, people took up the controllers with youthful enthusiasm. Games — whether it was on the Switch, PlayStation or PC — allowed people to escape the four walls of their apartment ...

Citigroup Inc has long been valued like a European bank. Its British-born Chief Executive Officer Jane Fraser has reached for a European-style solution, but so far investors aren’t impressed. The bank is on a mission to reshape its sprawling global businesses and make them simpler and easier to understand. It wants to invest in the parts of the bank that ...

  Bloomberg Britain will compel airlines to use 70% of takeoff and landing slots this summer to boost competition after the coronavirus crisis, angering carriers still struggling with demand far short of pre-pandemic levels. To ease the transition towards use-it-or-lose-it requirements that are closer to 2019 levels, the Department for Transport also published an extended list of get-out clauses, such ...

  Bloomberg China accused the US of “bullying” over its decision to suspend dozens of flights from America by Chinese airlines, underscoring lingering tensions between the world’s biggest economies. The US “wantonly suspended Chinese flights and disrupted their normal operations,” Foreign Ministry spokesman Zhao Lijian said at a regular press briefing in Beijing on Monday. “It is irresponsible and unreasonable.” ...

  Bloomberg United Airlines Holdings Inc. expects a delayed recovery in air travel this year as the coronavirus resurgence pressures business and leisure travel, slowing the carrier’s momentum after a robust holiday season pushed its fourth-quarter results above Wall Street’s estimates. The spreading omicron variant prompted United to lower its capacity forecast for 2022 to below the 2019 level, according ...

  Bloomberg Airline bosses are urging UK Health Secretary Sajid Javid to restore restriction-free international travel at least for the fully vaccinated, citing evidence that recent curbs haven’t been effective in preventing the spread of omicron. In a letter to Javid, chief executives of British Airways, Ryanair and other carriers asked for a clear protocol for managing future outbreaks “without ...

  Bloomberg The US ordered family members at its embassy in Kyiv to leave “due to the continued threat of Russian military action,” signaling a further turn of the screw in the standoff over Ukraine. While the US renewed warnings that Russia could send forces into Ukraine at any time, the New York Times reported that President Joe Biden is ...

  Bloomberg Mutinous soldiers in Burkina Faso detained the nation’s president and asked him to sign a resignation letter, people familiar with the matter said a day after an army mutiny. President Roch Marc Christian Kabore is being held at a military camp, the people said, asking not to be identified because they’re not authorized to speak to the media. ...