Bloomberg Hong Kong apparel giant Esquel Group said it is suing the US government for what it called the “erroneous” blacklisting of a subsidiary, saying it had been “falsely implicated” in the use of forced labor in China’s Xinjiang region. The unit, Changji Esquel Textile Co, was added to the US Commerce Department’s Entity List during former President Donald Trump’s …

Bloomberg General Electric Co vowed to curb the greenhouse gases produced by the use of its products—including thousands of fossil-fueled turbines and jet engines in operation around the world—in a bid to achieve net-zero emissions by 2050. The new goal, announced in GE’s annual sustainability report, signals that the industrial giant plans to go beyond an earlier pledge to make …

Bloomberg Ryanair Holdings Plc is starting one of the biggest recruitment drives among European airlines, adding 2,000 pilots over the next three years as it plans to grab market share from rivals weakened by the pandemic. Europe’s biggest discount carrier needs pilots to fly its new Boeing Co 737 Max jets, which it began taking last month, Ryanair said. The …

Bloomberg Banks in Germany are rapidly cutting back on office space as a rising number of staff work from home, putting them at the vanguard of a global shift that could permanently change the way bankers work. Deutsche Bank AG is vacating several floors in a building housing about 1,000 employees, HSBC Germany is ditching six separate offices in Dusseldorf …

Bloomberg National Australia Bank Ltd (NAB) has emerged as the front-runner for Citigroup Inc’s Australian retail assets. The country’s third-largest bank is in advanced discussions over the purchase of the unit, valued at more than $1 billion, the people said. National Australia confirmed its interest in a statement. “NAB regularly assesses opportunities to acquire businesses that support its growth strategy …

Bloomberg The central bank of Kenya needs “teeth” to rein in more than 100 lenders, who charge interest rates as high as an annualised 500% for loans disbursed over digital channels, according to Governor Patrick Njoroge. The regulator wants the mobile-phone based and online lenders to disclose more information, including the source of funds and details on ownership for the …

Bloomberg American stock-index futures were mixed on Wednesday as investors evaluated a surprise US inflation jump that stirred the debate on how long the Federal Reserve will maintain ultra-loose policy. Contracts on the S&P 500 fluctuated, while those on the Nasdaq 100 gained after US tech giant Apple Inc. was said to have prepared suppliers for a boost in next-generation …

Bloomberg Count small-cap stocks among the casualties of the quickly unraveling reflation trade. The Russell 2000 Index fell more than 1% as the fastest inflation since 2008 fueled concern over pricing pressures and the growth potential of smaller US companies. The retreat contrasts with a gain in the Nasdaq 100, where technology megacaps are increasingly favoured for their strong earnings …

Abu Dhabi / WAM – Bloomberg World hunger spiked last year, outpacing population growth and probably reaching the highest since 2005, as the Covid-19 pandemic curbed incomes and access to food, according to the United Nations. As many as 811 million people — about a 10th of the global population — were undernourished in 2020, a UN report said. The …

Bloomberg Equity investors in India face the risk of earnings disappointment after a rally that’s propelled the local stock benchmark to successive records this year, according to JPMorgan Chase & Co. As business activity resumes following one of the world’s deadliest coronavirus outbreaks, consensus earnings estimates may end up being overdone, said Sanjay Mookim, head of India equity research at …