Bloomberg Amazon.com Inc tapped Doug Herrington to run the company’s sprawling retail and logistics operation, giving him the new title chief executive officer of Worldwide Stores and signalling the importance of a continued push into groceries under company CEO Andy Jassy. Herrington, 55, joined Amazon in 2005 and launched the Amazon Fresh grocery delivery service in 2007. He replaces ...

  WEST VIRGINIA / WAM A helicopter used for tourism flights crashed onto a highway in West Virginia state, killing six people on board, Reuters cited local media as saying. The helicopter, which was based at an airport in the state’s Logan County, crashed on State Route 17 and was on fire when rescue crews arrived, the WSAZ-TV reported, citing ...

Bloomberg British sporting goods billionaire Mike Ashley’s Frasers Group Plc raised its stake in fashion retailer Hugo Boss AG, ramping up its exposure to the German retailer as it works on a rejuvenation effort. Frasers valued the new holding at about 900 million euros ($944 million) in a statement, two years after first investing about 108 million euros in the ...

  Bloomberg Traders piled into shares of Revlon Inc, driving its gains from a record low to 650% as individual investors looked to strike a quick profit, while ignoring the fundamentals of the troubled cosmetics giant. The stock surged 34%, bringing gains from an all-time low to more than 650% as trading volume continued to soar past recent trends. More ...

  Bloomberg London’s Heathrow airport lifted its full-year passenger forecast, citing updated information on schedules and bookings and the limited impact of capacity caps imposed to boost resilience as travel rebounds. The UK hub now expects to attract 54.4 million passenger in 2022, versus a forecast for 52.8 million travellers issued on April 26, it said in a statement. The ...

  Bloomberg A supply glut is set to hit India’s government bond market, and drive benchmark yields towards 8% by year-end, according to Standard Chartered Plc. The lender estimates that excess supply of sovereign and state debt may total as much as 6.3 trillion rupees ($81 billion) this fiscal year. That’s likely to further upset a market that’s struggling to ...

  Bloomberg Indonesia’s central bank held its benchmark interest rate at a record low again, saying inflation remains manageable as it cemented its place as an outlier on monetary policy. Bank Indonesia left the seven-day reverse repurchase rate unchanged at 3.5%, as predicted by 24 of 33 economists surveyed by Bloomberg. The rest expected policy makers to kick off the ...

  Bloomberg The UK government is tightening rules on buy now, pay later loans to try to prevent borrowers from taking on unaffordable debts. After months of consultations, the Treasury confirmed that lenders will be required to carry out affordability checks on customers and ensure advertisements are fair. Providers will need to be approved by the Financial Conduct Authority and ...

  Bloomberg AIB group is set to be hit with a possible record fine from Ireland’s central bank for its role in a mortgage overcharging scandal, according to three people familiar with the matter. The central bank is preparing to sanction the bank for its role in charging thousands of customers the wrong interest rate on mortgages that tracked the ...

  Bloomberg HSBC Holdings Plc has lost two senior investment bankers in Asia, according to people familiar with the matter, as global banks compete for financial technology talent and the dealmaking slows down. Nate Tan, a managing director, has left the British lender and will join Singapore’s United Overseas Bank Ltd. in its digital banking platform team, the people said, ...