We’ve had a long run on the current economic expansion, but eventually, another recession will come. A lot of people will lose their jobs, maybe including you. So ask yourself a question: When the time comes, would you rather take a guaranteed 10 percent wage cut, or have a 10 percent chance of becoming unemployed? While they are both just ...

Bloomberg A price battle between United Airlines and heavy discounters is spreading to other US carriers, threatening to derail the industry’s nascent recovery in pricing power. Competition that heated up this summer in United’s hub cities of Houston, Chicago and Newark, New Jersey, has extended to American Airlines in Dallas and to other carriers, airline executives said. Passenger revenue for ...

Bloomberg Bird Group, an aviation and hospitality company, said it is interested in bidding for the ground handling division of Air India Ltd., the state-owned flag carrier the government is planning to sell in full or part. The New Delhi-based group has written to the Ministry of Civil Aviation asking the government to consider selling Air India’s subsidiaries separately, a ...

Bloomberg In Mike Ashley’s last court case, we found out what an evening in the pub with him was like. Now, we might pick up a few tips on his golf game. Ashley, the billionaire owner of Sports Direct, sued his ‘trusted friend” and former co-owner of Charlton Athletic Football Club, saying he lured him into a fraudulent 3 million-pound ...

Bloomberg Southwest Airlines Co. quietly took delivery of its first Boeing Co. 737 Max jetliner, canceling an employee celebration in Dallas to mark the milestone because of the devastation in nearby Houston caused by Hurricane Harvey. The jet’s Tuesday arrival at Southwest marks the first at a North American carrier for the Max, which has shattered sales records at Boeing. ...

Bloomberg Gasoline rose to a two-year high as Tropical Storm Harvey hit the US Gulf coast again after already knocking out a fifth of the nation’s refining capacity. Motiva Enterprises LLC’s Port Arthur refinery, the country’s biggest, was said to be shutting because of severe flooding. The disruption helped send motor fuel as much as 3.3 percent higher in New ...

Bloomberg Gazprom PJSC’s profit slumped in the last quarter, cooling the prospect of an increased dividend from the world’s largest natural gas producer. Net income plunged 80 percent as record gas exports to Europe were offset by foreign-currency losses, the Moscow-based company said in a statement late on Tuesday. Gazprom aims to keep its dividend payments in rubles no lower ...

Bloomberg A stalled solar-thermal project in northern Chile backed by a US private equity investor is seeking about $800 million in debt to resume construction, according to people familiar with the deal. EIG Global Energy Partners, the US private equity investor that took over the $1 billion Cerro Dominador solar plant last year, has received interest from “several international banks,” ...

AMMAN / Reuters Jordan will open its main border crossing with Iraq on Wednesday for the first time since 2015, now that Iraqi forces have gained control of the main highway to Baghdad from IS militants, both governments said. Iraqi troops pulled out of the Tureibil post, on the 180 km (110 mile) border, in summer 2014 after the militants ...

BEIRUT / Reuters Lebanon has begun reforms to repair its fragile economy after years of paralysis in decision-making but is under pressure to do more to prevent its rising debt spinning out of control. President Michel Aoun, elected last year after 29 months without a head of state, signed off last week on public sector pay rises and tax increases ...