Bloomberg Sneaker marketplace StockX responded to a trademark-infringement lawsuit from Nike Inc, saying in a court filing that the world’s largest athletic-wear company shows a “fundamental misunderstanding” of nonfungible tokens. In February, Nike filed a complaint in federal court in Manhattan accusing StockX of “blatantly freeriding” on Nike’s trademarks and goodwill with a new service called Vault NFTs. StockX …

  Bloomberg Among the top things that infuriate watch aficionados: replicas, fashion timepieces and battery-powered movements. And yet, the $260 Swatch homage to the Omega Speedmaster that debuted a week ago and caused shopping pandemonium checks all three of those snob boxes, making the collaboration an even more remarkable hit. From London to Berlin to Melbourne, eager consumers snaked around …

  Bloomberg Deutsche Lufthansa AG Chief Executive Officer Carsten Spohr said Rome could become the group’s fifth hub with the acquisition of new Italian flag carrier ITA Airways. “Italy is a strong market,” Spohr said in an interview with Corriere della Sera published. “Rome could play a very important role within Lufthansa, integrating our system with a southern hub for …

  Bloomberg Luxury-goods group Kering SA agreed to pay 187 million euros ($206 million) to settle an Italian probe on alleged tax evasion at its Bottega Veneta unit, according to people familiar with the matter. Italian financial police found that Bottega Veneta used two Swiss affiliates to avoid paying taxes in Italy, the people said, asking to not be named …

Bloomberg The Tokyo Stock Exchange implemented its biggest revamp in over 60 years on Monday, with a long-awaited but largely symbolic restructuring of its market segments. Earlier hailed as a once-in-a-generation shift, the introduction of the three new sections — Prime, Standard and Growth — was intended to boost Japanese stocks’ appeal and understandability to foreign investors. But the restructuring …

  Bloomberg Stocks in Europe struggled for traction and US index futures slipped as traders weighed the latest developments in the Ukraine war, with some European governments pushing for stiffer sanctions on Russia amid reports that its troops executed unarmed civilians. The Stoxx Europe 600 index fluctuated at the open, with banks and car makers leading declines. The healthcare sector …

  Bloomberg At least a hundred companies worldwide have delayed or pulled financing deals worth more than $45 billion since Russia’s invasion of Ukraine. These include initial public offerings, bonds or loans and acquisitions. US equity market deals were the worst hit by global volatility in the first quarter as a crop of firms postponed listings, while Japanese and European …

  Bloomberg The UK will detail plans to broaden its energy sources as the war in Ukraine, sanctions on Russia and a cost-of-living crisis forces countries across Europe to urgently revamp how they generate electricity and heat homes. The main focus will be on nuclear and wind power, two industries that haven’t been short of controversy. Government minister Grant Shapps …

  Bloomberg Shell Plc may have difficulty paying for Russian gas supplies this month because the Kremlin wants payments transfered through UK-sanctioned Gazprombank JSC, according to two people familiar with discussions in Russia. Gazprom PJSC, the single largest provider of natural gas to the European continent, now only accepts ruble payments for supplies of the fuel to so-called ‘unfriendly’ states, …

  Bloomberg Japan’s energy importers are warning that the tumbling yen is exacerbating a surge in fuel costs, and may weigh on their bottom line and boost prices for consumers. While oil prices have slipped from the highs seen earlier from Russia’s war in Ukraine, the sharp weakening in the yen is likely to keep upward pressure on imported fuel …