ALL should be rosy at Europe’s largest low-cost airline. Ryanair’s passenger numbers are growing and costs per seat-kilometre flown are—just about—lower than its competitors’. But investors have been sent into a flap by its announcement on July 23rd th…Read more
THE question of who would replace Sergio Marchionne has been in the air for a year or more, ever since the boss of Fiat Chrysler Automobiles (FCA) announced that he would step down in 2019. But the way the answer came was both shocking and sad. Complic…Read more
TRAVELLING for work can be expensive, uncomfortable and unpleasant, even for those without a mobility issue. But spare a thought for people who do, many of whom get appalling service from train firms and airlines around the world. The latest case to ha…Read more
LIKE other countries, China has bureaucratic infighting. But it does better than most at keeping tussles hidden from outside view, especially under Xi Jinping, a president who brooks no dissent. So it has been highly unusual to see a spat between the central bank and finance ministry spill into the open. It reveals cracks in the government’s façade of unity as a campaign to control debt exacts a toll on the economy.
The disagreement started on July 13th when Xu Zhong, head of the central bank’s research department, spoke at a forum in Beijing. Officially, China is committed to a “proactive fiscal policy”, meaning that the government will spend to prop up growth. But Mr Xu argued that the finance ministry was not delivering what it had promised, thus making deleveraging more painful.Read more
A LOT rests on the shoulders of the euro zone’s top central banker. The president of the European Central Bank (ECB) is not just in charge of ensuring monetary and financial stability in one of the world’s largest economies. In the absence of a single …Read more
ASK the chief investment officer of a fund-management firm how to spread your investments and you will be told to put so much in stocks, so much in bonds and something in hedge funds or private equity. Chances are that white-elephant buildings, eggs an…Read more
Making a KylianCHEERS erupted from Calais to Cannes when Kylian Mbappé, a 19-year-old striker, thumped in France’s fourth goal in the World Cup final on July 15th. Among the smuggest onlookers were the accountants at Paris Saint-Germain, Mr Mbappé’s cl…Read more
Songs of SolomonLAME-DUCK periods can last for only so long. It was clear beforehand that a Goldman Sachs earnings call this week would be packed with questions about succession. When would the chief executive, Lloyd Blankfein, step down? (He had said …Read more
TO PAY for his professional flight degree at Purdue University in Indiana, Andrew Hoyler had two choices. He could rely on loans and scholarships. Or he could cover some of the cost with an “income-share agreement” (ISA), a contract with Purdue to pay it a percentage of his earnings for a fixed period after graduation.
Salaries for new pilots are low. Mr Hoyler made $1,900 per month in his first year of work. Without the ISA, monthly loan payments would have been more than $1,300. Instead, for the next eight-and-a-half years he will pay 7.83% of his income. He thinks that, as his pay accelerates, he will end up paying $300-400 more each month than with a loan. But low early payments, and the certainty that they would stay low if his earnings did, made an ISA the better option, he says. “I’ve been able to pay what I could afford.”Read more
“THERE’S only two things you do in the navy,” says Vice-Admiral Al Harms, former commander of the USS Nimitz, a nuclear-powered aircraft carrier that is one of the world’s biggest ships. “You fight, and you train to fight. Hopefully, most of the time y…Read more