Bloomberg The unraveling of the latest meme stock frenzy is accelerating as bad news for one of the most popular retail-trader favourites piles up and investors dump riskier assets. Bed Bath & Beyond Inc tumbled 16%, marking a now three-day drop that’s erased 60% of its market value, after a report some suppliers were restricting or halting shipments altogether …

  Bloomberg Matalan Ltd’s founder John Hargreaves has proposed injecting tens of millions of pounds into the struggling retailer to keep control of the business even as its creditors push for a sale, Sky reported citing people familiar with the matter. Hargreaves, who reinstated himself as Matalan chairman last month, wants to invest between £25 million and £50 million cash …

  Bloomberg JD.com Inc reported stronger-than-projected revenue growth after consumers continued to flock to the country’s second-largest online retailer despite an economic slowdown. Sales hit 267.6 billion yuan ($39.1 billion) during the second quarter, beating the average forecast of 261.7 billion yuan. The Beijing-based company logged net income of 4.4 billion yuan, following three consecutive quarters of losses. Its shares …

  Bloomberg US index futures posted modest gains, Treasuries nursed losses and the dollar was steady as markets remained on edge ahead of the Jackson Hole central bankers’ symposium later this week. Futures on the the S&P 500 and Nasdaq 100 fluctuated before turning higher after US stocks plunged the most in two months. The 10-year Treasury yield held above …

Bloomberg South Korean messaging giant Kakao Corp.’s manga business is pushing back plans to go public on the Tokyo Stock Exchange until next year, aiming for a valuation of $6 billion or more. Manga app operator Kakao Piccoma Corp had previously planned an initial public offering (IPO) for this December, but is delaying the process amid slumping tech valuations, according …

­­­Bloomberg Russia’s crude shipments surged last week, recovering almost all of the previous slump. Seaborne exports to European buyers rose to the highest level since April, as some refiners continue to process barrels, even after Moscow’s invasion of Ukraine. Total flows rise to 3.41 million barrels a day in the period to August 19, vessel-tracking data monitored by Bloomberg show. …

  Bloomberg British households will see the average energy bill soar to $4,200 a year in October when the UK next raises a cap on prices, according to consultancy Cornwall Insight Ltd. The forecast confirms other recent estimates that bills will rise about 80% this winter compared with prices in April. Surging wholesale natural gas prices following Russia’s invasion of …

  Bloomberg In 2017, after Citigroup Inc had paid billions of dollars in fines for rigging interest rates, manipulating currency markets and selling shoddy mortgage bonds, the Wall Street giant was still struggling to keep tabs on traders in London. Managers overseeing Citigroup’s European trading hub had hundreds of blind spots, allowing for potentially abusive transactions to go unnoticed in …

  Bloomberg Rushing to sell Indian state-run lenders to private investors may hinder the government’s financial inclusion efforts and monetary policy transmission, staff at the country’s central bank warned. “A big bang approach of privatization of these banks may do more harm than good,” wrote staff including, Snehal Herwadkar, in a research paper. The report recommended a gradual approach to …

  Bloomberg The European Central Bank (ECB) will stop hiking interest rates after the end of 2022, when a euro-area recession and easing price pressures will restrain monetary-policy tightening, according to HSBC. Cuts to Russian natural gas supplies and resulting surges in energy costs will drive inflation higher than previously expected, to a peak of 10% in October, HSBC economists …