Democrats in Congress have introduced legislation to extend the Federal Reserve’s mandate and require the central bank to address racial injustice. So long as Republicans have a Senate majority, the measure is unlikely to pass — but that arithmetic might change next year. Does it make sense to instruct the Fed to “exercise all duties and functions in a manner ...

Bloomberg India’s aviation regulator suspended two senior executives at the local affiliate of AirAsia Group Bhd after a pilot alleged there were safety lapses at the airline and subsequently was fired. AirAsia India’s head of operations, Manish Uppal, and head of safety, Mukesh Nema, were suspended for three months, Arun Kumar, chief of India’s Directorate General of Civil Aviation (DGCA), ...

Bloomberg IndiGo, India’s biggest airline, plans to raise as much as 40 billion rupees ($534 million) by selling new shares after the coronavirus pandemic halted air travel across the world, ravaging the cash flow of carriers. The board of the airline, operated by InterGlobe Aviation Ltd, approved raising cash by selling shares to institutional investors, it said in a statement ...

Bloomberg Kroger Co is setting up an e-commerce marketplace open to third-party vendors, part of the grocery-store operator’s bid to wrest web sales away from giants like Amazon.com Inc and Walmart Inc. The owner of the Fry’s and King Soopers chains is working with online commerce specialist Mirakl to offer tens of thousands of additional goods, including housewares and toys, ...

Bloomberg Foot Locker Inc soared after the athletic-apparel retailer said it expects to report a profit and rising revenue for the second quarter, defying Wall Street’s expectations amid a tumultuous time for the clothing industry. Same-store sales increased about 18% for the three months ended on August 1, the New York-based company said in a statement discussing preliminary results for ...

Bloomberg Sur La Table Inc, the bankrupt upscale cookware chain, sold for almost $90 million and a promise to keep at least 50 stores open, according to court papers. A joint venture between e-commerce investment firm CSC Generation and Marquee Brands topped an opening bid from affiliates of Fortress Investment Group at auction last week, according to court papers and ...

Bloomberg Even as China continues to return fire at the Trump administration, leaders in Beijing are also signalling they want to ease tensions with the US as the clock ticks down to the presidential election. Trump’s moves to ban popular Chinese apps TikTok and WeChat ahead of sending the highest-ranking American official to Taiwan in 40 years — which included ...

Bloomberg Slovakia expelled three Russian diplomats on suspicion of spying, marking a shift in the Nato and European Union member’s approach towards Moscow. The three officials “carried out activities violating the Vienna Convention on diplomatic relations” and must leave the country by the end of the week, Slovakia’s Foreign Ministry said. The decision was taken last week by the new ...

Bloomberg Lebanon’s political leaders are expected to launch parliamentary consultations to choose a new prime minister after Hassan Diab’s government resigned over the devastating explosion at Beirut’s port. The nomination process by parliament’s various factions will be a litmus test of whether the August 4 port disaster marks an inflection point in Lebanese politics, or a continuation of decades of ...

Bloomberg Student protesters in Thailand are stepping up pressure on the military-backed government with calls for greater democracy and less power for the monarchy, a potentially explosive demand just as leaders struggle to handle the country’s worst-ever economic crisis. Thousands of demonstrators gathered again as part of near-daily gatherings across Thailand, which have gained momentum after the arrests of top ...