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After winning a fourth consecutive general election in 1992, the UK Conservative Party chairman told then Prime Minister John Major that they had “stretched the elastic” as far as it would go. Soon after, it snapped. The Tories had been in power for 13 years at that point and had become arrogant and complacent. Major’s government became mired in sleaze ...

It’s painful when prices are soaring for everything, but there are at least two segments of the real estate market where inflation may actually be easing the transition to a new status quo. As the US embarks on its third year following the arrival of Covid-19, there are clear winners and losers arising from how the pandemic has changed the ...

  Savers are about to learn one painful and one surprising lesson about interest rates and banks. First, just because the Federal Reserve is raising rates doesn’t mean the rate investors earn on their cash will rise as much — if at all. In fact, the financial repression in the form of zero rates suffered for more than a dozen ...

  By most measures, the US economy is doing well — but not when it comes to inflation. Consumer prices rose 8.5% in the year to March. Wages are rising too, though not fast enough to keep up. That means financial stress for many families, especially those on fixed incomes or with meager savings. With midterm elections approaching, President Joe ...

Bloomberg US airlines are facing a pilot shortage that’s complicating efforts to ramp up flights, forcing them to step up training programs, recruit foreign pilots and even replace planes with buses. The industry needs to hire an average of 14,500 new pilots each year until 2030, according to federal labour statistics. But carriers say there’s no way they can bring ...

  Bloomberg A lawyer for US Airways told jurors that Sabre Holdings Corp cost it $299.3 million in overcharges and lost profits, at the start of an antitrust trial in Manhattan. US Airways sued Sabre in 2011 claiming it charged inflated fees for its computerized reservation services, avoided competing over prices and blocked competitors from entering the market. The airline ...

  Bloomberg American Airlines Group Inc and United Airlines Holdings Inc said some Boeing Co aircraft won’t arrive until 2023 or 2024 amid lingering uncertainty over when the planemaker will be allowed to resume deliveries of its 787 Dreamliner. The issue has already prompted American to reduce, delay or suspend some planned international routes, a setback for the carrier as ...

  Bloomberg Lululemon Athletica Inc outlined a new five-year plan intended to double sales to $12.5 billion by 2026, in part by expanding its offerings to men. The athletic-wear retailer aims to double the revenue it gets from men’s products and its digital channel, while quadrupling international sales from 2021 levels, the company said in a statement. Executives are meeting ...

  Bloomberg Poland’s simmering industrial dispute over working conditions for air traffic control staff threatens to disrupt more than 600 flights a day if a deal can’t be reached, Europe’s airspace-management body warned. Capacity for services to Warsaw could be cut to just 170 a day if the situation worsens, leaving around 340 at risk of cancellation, while 300 of ...

  Bloomberg Frasers Group Plc’s new chief executive officer will receive a $27 million payment just days before he takes charge of the British retail group. The company behind Sports Direct and House of Fraser said it was awarding the payment to Michael Murray for his previous consultancy work at the group. Murray is not formally employed by Frasers but ...