Bloomberg Simon Property Group and Brookfield Asset Management are offering to acquire retailer Kohl’s Corp in a deal that would be worth more than $8.6 billion, according to a report in the New York Post. Simon and Brookfield, which bought rival department-store chain JCPenney out of bankruptcy, have offered $68 a share, according to people with knowledge of the talks ...

Bloomberg Walmart Inc is looking to boost its decor credentials with a new outdoor furniture line backed by Dave and Jenny Marrs, a builder-designer duo known for their home-remodeling shows on HGTV. The collection includes a porch swing and dining table from the couple, who star on the show Fixer to Fabulous. Walmart plans to add indoor furniture soon, Julie ...

  Bloomberg Urban-Air Port, a UK startup that’s developing hubs for flying taxis, is closing in on 20 million pounds ($25.4 million) in funding after attracting two new equity investors. Canadian services firm Dymond Group will invest in the infrastructure business while a European real-estate operator is also planning to back the company, founder and Executive Chairman Ricky Sandhu said. ...

  Bloomberg Gap Inc plummeted after announcing trouble at Old Navy — the brand that generates half of its sales and is seen as the apparel giant’s growth generator going forward. Nancy Green, who joined Old Navy in 2019 after having run Athleta, is leaving soon, Gap said. An external search is under way for her replacement. The retailer also ...

Bloomberg Russian Foreign Minister Sergei Lavrov warned there’s a “serious” risk of nuclear war over Ukraine, even as he signaled the Kremlin is willing to talk to the US to try to resolve the confrontation. “The danger is serious, real. It can’t be underestimated,” Lavrov said in a state TV interview broadcast. Invoking the Cuban missile crisis of 1962, when ...

  Bloomberg Sri Lanka’s President Gotabaya Rajapaksa and the cabinet are putting in motion plans to reduce his wide-ranging powers as opponents gained momentum in their push to oust his family over mismanagement of the economy. The cabinet approved a proposal by Prime Minister Mahinda Rajapaksa — the president’s brother — to return to the 19th amendment of the constitution ...

Bloomberg North Korea appears to have held a military parade as part of celebrations to mark the 90th anniversary of its army founding, an event where it may have displayed its latest weapons to deliver nuclear warheads to the US and its allies. The parade was held in central Pyongyang, NK News and Yonhap News Agency reported, citing unnamed sources. ...

Bloomberg Japanese Prime Minister Fumio Kishida told a visiting South Korean delegation that it was necessary to repair ties between the two neighbours and US allies amid threats to the international order. Kishida reiterated his call for greater strategic cooperation while receiving envoys from President-elect Yoon Suk Yeol, according to a statement from Japan’s Foreign Ministry. It wasn’t immediately clear ...

Bloomberg Australia would open a defense school to train its Pacific Island neighbours, increase foreign aid and support climate mitigation projects across the region, under an election policy announced by the opposition Labor Party that aims to boost the country’s soft power. Labor has been critical of a new security pact between China and the Solomon Islands, accusing Prime Minister ...

  Bloomberg UK Chancellor of the Exchequer Rishi Sunak pledged to bring borrowing under control to “avoid saddling future generations with debt” after official figures showed debt servicing costs rocketed. Government borrowing more than halved in the fiscal year through March as Covid-19 support programs were phased out and tax receipts recovered strongly, the Office for National Statistics (ONS) said ...