Bloomberg The Swiss athletic brand On is launching a resale site, making it the latest company to enter the fast-growing apparel resale market. On Holding AG, which is backed by tennis star Roger Federer, went public last year and expects to see net sales of 1.1 billion Swiss francs ($1.1 billion) in 2022. The company has made sustainability a ...

Bloomberg Germany raised 760 million euros ($760 million) from the sale of the state’s full stake in Deutsche Lufthansa AG, unwinding all of the holding it took to keep the flagship carrier afloat during Covid-19 lockdowns. The country’s Economic Stabilization Fund, or WSF, disposed of its remaining 9.92% of Europe’s largest airline via a placement with international investors, according to ...

  Bloomberg Investors who attempted to participate in the 20.5 billion-rupee ($258 million) share sale in India’s largest airline IndiGo were left empty-handed due to a feature of the country’s trading rules that has long been a source of frustration for institutional fund managers. None of the investors lined up by the banks working on billionaire Rakesh Gangwal’s sale of ...

  Bloomberg Australian airline Rex plans to add more Boeing Co 737s within months, giving it enough jets for a nationwide network of intercity routes as it seeks to steal business away from troubled Qantas Airways Ltd. Rex, best known for flying small propeller-driven aircraft between regional towns, is fast building out a new jet division plying busy domestic routes ...

  Bloomberg The dollar’s long rally against the euro this year has proved a godsend for the owner of the Zara brand by swelling the value of revenue from its US garment sales when converted into euros. While it’s lost some ground over the past week, the greenback has gained more than 13% against the euro this year, boosting European ...

  Bloomberg France’s civil aviation authority told airlines to cut half of their flights due to a planned strike by air-traffic controllers, bringing disruption back to the country’s airports after a difficult summer. The DGAC’s guidance came in response to a walkout called for September 16 by the SNCTA union, the authority said in an emailed statement. Minimum service rules ...

  Bloomberg Shortly before invading Ukraine in February, Vladimir Putin and Xi Jinping declared a “no limits” friendship. Yet even as his forces suffer humiliating losses on the battlefield, Russia’s president shouldn’t expect much help at his first meeting with his Chinese counterpart since then. Xi and Putin meet face-to-face in Uzbekistan on Thursday in their first sitdown since a ...

Bloomberg The US will put $3.5 billion in Afghanistan’s central bank reserves under the control of a Swiss-based oversight board to pay for limited financial services in the country while ensuring the Taliban regime doesn’t get access to the money, the US Treasury Department said. The funds, which the US froze after the Taliban takeover of Afghanistan last year, will ...

Bloomberg Ukrainian President Volodymyr Zelenskiy visited the newly recaptured city of Izyum on Wednesday, an appearance that underlined the stunning success of a counteroffensive against Russian forces in the country’s northeast. The unannounced visit appeared to belie claims from Moscow that parts of Izyum, which had been a critical staging post for Russian weapons and troops fighting in the eastern ...

Bloomberg The yen rebounded from near a 24-year low on signs the Bank of Japan is preparing an intervention to prop up the currency. The central bank conducted a so-called rate check in the currency market, meaning officials called asking for an indicative price at which it could intervene, according to a person with direct knowledge of the events. The ...