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  Bloomberg London Heathrow airport’s losses from two years of Covid disruption swelled to 3.8 billion pounds ($5.2 billion), leaving its finances hanging on a summer travel rebound and the go-ahead from regulators to raise prices. The UK hub had a loss of 1.8 billion pounds last year after passenger numbers slumped to 19.4 million, the lowest since 1972, Heathrow ...

Bloomberg US President Joe Biden unveiled sanctions targeting Russia’s sale of sovereign debt abroad and the country’s elites, responding to what he described as the start of Vladimir Putin’s invasion of neighboring Ukraine. “He’s setting up a rationale to take more territory by force,” Biden said at the White House. “This is the beginning of a Russian invasion of Ukraine.” ...

Bloomberg Ukrainian authorities moved towards declaring a nationwide state of emergency after Russian President Vladimir Putin recognized two breakaway territories, ratcheting up tensions with Kyiv and sparking concerns about a potential broader conflict. The measure, announced by Security and Defense Council Secretary Oleksiy Danilov in Kyiv on Wednesday, would empower communities across the country of 41 million to impose restrictions. ...

  Bloomberg China temporarily detained a diplomat working at Japan’s embassy in Beijing this week, prompting protests from Japanese officials. The person was briefly detained Monday afternoon by Chinese authorities, according to statements from Japan’s Ministry of Foreign Affairs and embassy, which said the actions were a breach of an international agreement protecting diplomats. The Chinese embassy in Tokyo rejected ...

  Bloomberg Thailand will further relax entry rules for foreign visitors starting next month, bowing to demand from the local tourism industry to lower costs as more countries ease border controls to lure holidaymakers. Vaccinated visitors to the Southeast Asian nation won’t be required to undergo a mandatory polymerase chain reaction test on the fifth day of the arrival starting ...

Bloomberg While most diplomats at an emergency United Nations Security Council meeting condemned Vladimir Putin’s government for escalating tensions with Ukraine, China’s envoy carefully avoided any mention of Russia. “All parties concerned must exercise restraint and avoid any action that may fuel tensions,” Ambassador Zhang Jun said as part of a six-sentence statement. “The current situation in Ukraine is a ...

Bloomberg With President Joe Biden’s signature environmental legislation indefinitely stalled, progressive Democrats and activists are lobbying the White House to declare a “climate emergency” to unlock executive powers. The tactic could allow Biden to shut down crude oil exports, suspend offshore drilling, and redirect funding for clean energy projects. Former President Donald Trump used a similar step to divert billions ...

  Bloomberg The US Transportation Department is awarding some $450 million in grants for port-related projects to bolster capacity and improve the movement of goods as the US economy continues to be affected by congested supply chains, senior Biden administration officials say. “We’re proud to announce this funding to help ports improve their infrastructure — to get goods moving more ...

  Bloomberg United Parcel Service Inc lost a court fight for about $2 billion in compensation over the European Commission’s 2013 botched veto of its takeover bid for TNT Express. The European Union’s General Court on Wednesday dismissed the challenge, deciding that UPS failed to show how it had suffered damage. The dispute kicked off soon after UPS scrapped its ...

Bloomberg Germany’s economy minister said the country could do without Russian gas. But that won’t be easy. Europe’s industrial powerhouse currently relies on Russia’s Gazprom PJSC for more than half its gas. And if anything, demand will only grow as the country phases out nuclear and coal-fired electricity. No. 2 supplier Norway is already pumping at full tilt, and Germany ...