Are pipelines built to threaten democracies, or befriend authoritarians? Judging by the responses to Russia’s two biggest gas export projects, it depends where you are. In Europe, the Nord Stream 2 pipeline, intended to double Moscow’s direct export capacity into Germany to 110 billion cubic meters a year, has become caught up in geopolitical rivalry over eastern Europe. Approval ...

  There will be fresh kicks under the Christmas tree after all. Three months ago, Nike Inc raised the alarm on the supply chain crisis: It warned that shoppers might not be able to find the sneakers they wanted in the run up to the holidays. It offered some reassurance that the worst may be over. As it announced its ...

  Good investment banking jobs are disappearing. Much of the business has been long replaced by machines and computer algorithms. Almost all equity trading is now done electronically. Even high-yield corporate bonds, an opaque corner of the market where orders from wealthy clients are often placed over lavish meals, are being disrupted. In the US, 37% of these transactions are ...

China’s push for global supremacy is playing out in the Taiwan Strait and the South China Sea, but also in the quieter coercion that Beijing practices every day. The latest target of this pressure is Lithuania, which is paying an economic price for snubbing China diplomatically. The case is a reminder that the democratic world must either unite against Chinese ...

  Bloomberg Chanel has raised global prices on some of its classic handbags by almost two-thirds since the end of 2019. A spokeswoman said the hikes are in response to unspecified exchange-rate fluctuations, changes in production costs and to ensure its handbags cost roughly the same around the world. But luxury-sector executives and analysts say the magnitude of the increases ...

  Bloomberg Discount carrier Wizz Air Holdings will increase its presence in the UK after agreeing to buy takeoff and landing slots from Norwegian Air Shuttle ASA at London’s Gatwick hub. Budapest-based Wizz will acquire 15 daily slot pairs at Gatwick, where operations are restricted by a single runway, allowing it to base four more jets there next summer for ...

  Bloomberg Embraer SA’s Eve Urban Air Mobility unit will merge with Zanite Acquisition Corp next year, the latest in a string of deals as flying-taxi startups seek capital from public markets. The transaction includes $237 million in cash from Zanite, a special purpose acquisition company, and a $305 million PIPE, or private investment in public equity. The PIPE has ...

  Bloomberg The European Commission approved $2.9 billion of restructuring aid for TAP SA intended to help the ailing Portuguese airline become viable. The EU Commission also approved 107.1 million euros to compensate the Lisbon-based carrier for damages suffered as a result of the coronavirus pandemic, it said. Faced with the prospect of TAP collapsing, Portugal’s government began providing aid ...

  Bloomberg The Italian luxury house Ermenegildo Zegna NV is open to acquiring other textile manufacturers or a fashion brand that’s strong with younger shoppers, its chief executive officer said. Zegna manufactures its own fabrics, knitwear and yarns, and also sells those products to other brands, such as Chanel and Brunello Cucinelli. “We have this luxury textile platform,” Ermenegildo Zegna ...

  Bloomberg Cathay Pacific Airways warned of several flight cancellations to and from Hong Kong in January as operational and travel restrictions continue to affect its schedules. The airline said it is reviewing its passenger flights and apologised to customers. The year-end holiday season is typically a busy time for Cathay and Hong Kong as an aviation hub, but the ...