Bloomberg Negative interest rates have created a European banking industry that’s ripe for consolidation, according to the chief executive officer of the biggest Nordic bank. But bankers have lost their nerve, so the mergers aren’t happening. Casper von Koskull, the CEO of Nordea Bank Abp, says a lack of confidence within his industry is now the “biggest impediment” to the ...

Bloomberg Luxury department store Barneys New York is exploring restructuring options that could include filing for bankruptcy as it struggles to keep up with higher rent and adapt to changing consumer habits. Barneys is working with financial advisers at MIII Partners and lawyers at Kirkland & Ellis, according to people with knowledge of the situation. The company hasn’t made a ...

Bloomberg British Airways (BA) is preparing to go to court to block a potential walkout by its pilots at the height of the busy summer travel season. The airline, a unit of IAG SA, was expected to the UK’s high court on July 23 to seek an injunction against the British Airline Pilots Association, known as Balpa, should members vote ...

Bloomberg J Sainsbury Plc is joining forces with Deliveroo to speed hot pizza to UK consumers’ living rooms. Customers in London, Birmingham, Brighton and Cambridge, England, will also be able to order snacks and drinks from the supermarket chain as part of the two-month trial. It’s one of the first steps Deliveroo has taken since Amazon.com Inc in May led ...

Bloomberg JC Penney Co, the struggling department-store chain, said it’s taking measures to improve its financial health but assured investors that it hasn’t hired advisers to prepare for a restructuring in bankruptcy court. “We have no significant debt maturities coming due in the near term, and we continue to maintain a strong liquidity position,” the company said in a statement. ...

Bloomberg aCommerce, a Bangkok-based startup that helps brands such as Samsung, L’Oreal and Unilever sell their products online across Southeast Asia, has raised more than $10 million from existing investors including KKR & Co. KKR’s Emerald Media, investment house Blue Sky, DKSH Holding AG and an arm of Indonesian conglomerate Sinar Mas also took part in the company’s latest funding ...

Bloomberg Dean & DeLuca, the gourmet grocer whose trend-setting New York store introduced Americans to international delicacies more than four decades ago, is struggling to hold on amid stalling sales and a cutthroat competitive landscape. Some shelves at its flagship store are bare, and suppliers have gone to court over unpaid bills. Other US locations have been shut, leaving Dean ...

Bloomberg China’s importers have started making arrangements to buy US agricultural products, Global Times’s Editor-in-Chief Hu Xijin said in a tweet, without specifying where he got the information. The possible purchase of American farm products — which adds to recent gestures of goodwill between both sides — also indicates US-China trade talks will restart soon, according to the tweet. Senior ...

RIYADH / WAM Emirates NBD announced plans for further expansion in the Kingdom of Saudi Arabia following approval from the Saudi Arabian Monetary Authority, SAMA, to open 20 additional branches in the Kingdom. The announcement reflects KSA’s growing importance to Dubai’s biggest bank by assets as the United Arab Emirates continues to strengthen long-standing strategic and economic ties with the ...

Bloomberg New York has signed the biggest-ever deals for offshore wind power in US history, a key part of the state’s plan to get all of its power from emissions-free sources by 2040. Governor Andrew Cuomo awarded contracts for two projects off Long Island that will total 1,700 megawatts in capacity. Equinor ASA and a joint venture between Denmark’s Orsted ...