Manufacturers of fighter jets, battleships and missiles are usually one of investors’ best defensive havens when economies get shaky. This time around, geopolitical conflict and tension are making them key components in the offensive arsenal as well. Normally, when a downturn erodes demand or some exogenous shock rocks the market, the US government budget, and particularly spending on the ...

Bloomberg Amazon.com Inc, determined to reduce the size of its sprawling delivery operation amid slowing sales growth, has abandoned dozens of existing and planned facilities around the US, according to a closely watched consulting firm. MWPVL International Inc., which tracks Amazon’s real-estate footprint, estimates the company has either shuttered or killed plans to open 42 facilities totalling almost 25 million ...

  Bloomberg Bed Bath & Beyond Inc., short on cash and time, is trying to have its Best Buy moment. While many US retailers’ attempts at a turnaround have failed in recent years, Best Buy Cos.’s is one of the few that’s succeeded. The electronics chain overcame relentless online competition and management missteps to regain its stature during the past ...

  Bloomberg Selfridges & Co. is pushing further into selling pre-worn clothing, offering rental services and repairing used items as the UK department-store chain seeks ways to reduce the fashion industry’s weighty environmental impact. Since 2020, Selfridges has increased sales of previously owned items by 240%, according to a report in which it sets out new goals. The retailer has ...

Bloomberg Donald Trump used a Pennsylvania rally to vent his anger at an FBI search of his Florida home and President Joe Biden’s attack on political extremism, staking his claim as his successor’s election rival in 2024. Declaring Biden an “enemy of the state,” Trump mixed support for two Republican candidates with a rejoinder to the president’s speech 48 hours ...

Bloomberg Turkish President Recep Tayyip Erdogan warned Greece not to “go too far” amid heightened tension over territorial disputes between the two Nato allies. “Greece’s occupation of Aegean Sea islands is not our concern,” Erdogan said in a speech Saturday in Samsun province on the Black Sea coast. “When the time comes, we will do what is necessary. As we ...

Bloomberg Chileans are heading to the polls for a referendum on a new constitution that prioritizes social rights and the environment, potentially steering a global investor favorite further away from its pro-market ethos. Voters will approve or reject the proposed charter written by a left-leaning Constitutional Convention, thus either replacing or keeping the basic laws enacted during the 1973-1990 dictatorship. ...

Bloomberg After unleashing a wave of repression to crush opposition to his war in Ukraine, President Vladimir Putin is moving to shape attitudes among young Russians with a program of patriotic education in schools. Teachers nationwide are being ordered by the Education Ministry to deliver a special lecture on Sept. 12 titled “Our Country – Russia” that quotes Putin’s justification ...

  Bloomberg Australia’s central bank risks raising interest rates too far too fast in its efforts to contain inflation, opening up the possibility of tipping the economy into recession, senior economists warned. Unlike many international counterparts, Australians feel the impact of rate hikes quickly because about 60% of home loans are at variable rates, said Diana Mousina, a senior economist ...

  Bloomberg Singapore’s dollar is emerging as the top bet for Wall Street’s biggest banks as wagers the central bank will extend policy tightening bolsters demand for Southeast Asia’s top-performing currency. Goldman Sachs Group Inc favours the Singapore dollar the most among Asian currencies, along with Thailand’s baht. Citigroup Inc. recommends buying the currency on dips, while RBC Capital Markets ...