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First impressions count, especially when it comes to economic policy. UK Prime Minister Liz Truss and Finance Minister Kwasi Kwarteng last week announced a fresh start for the country with a big shift in fiscal policy — and hit the ground face first. Their plan has crashed the pound, wrecked the government bond market, and destroyed the Bank of England’s ...

  The world looked on in horror last week as the UK’s market collapse prompted the Bank of England to reverse its plans for quantitative tightening with a spectacular intervention in the gilt market — “on whatever scale is necessary” — to save the nation’s pensions system. So far, this appears to be a uniquely British debacle. But what if ...

  This week’s bond meltdown has sent the mean 10-year borrowing cost for Group of Seven countries to its highest in more than a decade, with the average yield surging above 3%. What happens next could set the tone for financial markets and the global economy for years to come. And your guess is as bad as mine as to ...

  After a sleepy start to the North Atlantic hurricane season, Ian jolted us all awake. The storm tore through the Carolinas and beyond. But all we can see at the moment is the devastation left behind in Florida. At least 15 people have been confirmed dead, some 2.6 million homes and businesses are without power and two bridges have ...

Bloomberg United Airlines Holdings Inc. plans to suspend service at New York’s John F. Kennedy International Airport, following through on a threat earlier this month to halt flights if regulators don’t allow the carrier to expand there. The decision will only affect four daily flights. The carrier’s New York-area presence is largely concentrated at nearby Newark Liberty International Airport in ...

  Bloomberg Russia has lost its seat on the governing council of a UN agency that supports the cooperation and coordination of civil air travel among 193 countries. Russia failed to get enough support to keep its seat on the 36-member governing council of the International Civil Aviation Organisation, or ICAO, according to results. A spokesman for ICAO did not ...

  Bloomberg Dozens of lawsuits are challenging the long-standing belief that pregnant women can safely take acetaminophen, an over-the-counter drug used in Tylenol and generic pain medications. Women have filed 87 complaints in seven states against sellers of store-branded pain relievers, including Walmart Inc., CVS Health Corp. and Walgreens Boots Alliance Inc. Citing new studies linking the drug to increased ...

  Bloomberg Financial worries may have bumped the pandemic as a top concern for travellers, but close to two-thirds of Americans still plan to hop on at least one overnight leisure trip in the upcoming three months—which include the holiday season. Of those travellers, nearly half are planning to visit friends and relatives. “Despite the challenges facing our industry, the ...

  Bloomberg Amazon.com Inc. is encouraging customer service employees at some US call centers to work from home, signalling the company’s preference for remote work in certain roles that would help save money on real estate, according to people familiar with the matter. The shift is part of a plan to close multiple call centers around the country, including one ...

  Bloomberg Cartier, the French maker of upscale watches and jewelry, plans to open as many as 10 stores in the US in the coming years — another sign that European luxury brands are betting American demand will remain robust. The company, owned by luxury conglomerate Richemont, is likely to turn a temporary shop in Palm Beach, Florida, into a ...