Bloomberg GameStop Corp fell, wrapping up its longest losing streak in a year, amid growing skepticism over its long-term potential despite activist Ryan Cohen’s latest efforts to revitalise the company. Shares fell 11% in New York to close at $141.09, their lowest level in more than two weeks, as Reuters reported the video-game retailer is seeking a replacement for the ...

Bloomberg UK sportswear chain JD Sports Fashion Plc said Brexit red tape has severely tested its operations and it’s opening new warehouses in the European Union to avoid the hassles of customs checks. The UK sportswear chain said duties and disruptions from customs checks mean it’s no longer enjoying “frictionless” trading. A new 65,000 square-foot warehouse near Dublin will become ...

Bloomberg China’s air force sent 25 fighters and bombers over the Taiwan Strait, escalating military pressure on the government in Taipei as it boosts ties with the US. Beijing deployed 14 J-16 and four J-10 fighters, four H-6K bombers, two Y-8 anti-sub warfare planes and one KJ-500 early warning aircraft into the southwest section of Taiwan’s air defense identification zone, ...

Bloomberg US Defense Secretary Lloyd Austin announced that 500 additional troops will be stationed in Germany from the fall, marking a reversal of former President Donald Trump’s planned draw down. President Joe Biden, said in February he was freezing Trump’s plan to withdraw about 9,500 soldiers from Germany — a move that had stunned European and North Atlantic Treaty Organization ...

Bloomberg Ukraine and Russia ratcheted up their rhetoric as US Secretary of State Antony Blinken arrived in Brussels to discuss the escalating tensions with his European partners. Meeting with Nato chief Jens Stoltenberg, Ukrainian Foreign Minister Dmytro Kuleba said Russia, which has amassed troops near the two countries’ border, is threatening to destroy his country. Kremlin spokesman Dmitry Peskov said ...

Bloomberg Burundi and the European Union have accelerated talks on lifting sanctions imposed by the bloc, according to Foreign Affairs Minister Albert Shingiro. The EU placed penalties on some politicians and state officials and froze government financing in 2015 during a political crisis that followed former President Pierre Nkurunziza’s decision to seek a third term, a move seen by the ...

Bloomberg Hong Kong will hold its Legislative Council election on December 19 after delaying the vote by more than a year because of the pandemic, a move that allows the government to push through changes that give China a veto over any pro-democracy politician. Hong Kong leader Carrie Lam announced the changes on Tuesday, after she said her advisory Executive ...

Bloomberg Bank of Montreal (BMO) agreed to sell its Europe, Middle East and Africa asset-management unit to Ameriprise Financial Inc. for $847 million, marking Chief Executive Officer Darryl White’s biggest move yet to trim the bank’s portfolio of non-core businesses. The sale includes the opportunity for some US clients to move to Ameriprise’s Columbia Threadneedle Investments unit, subject to their ...

Bloomberg The 25 biggest US banks collectively reduced their loan holdings by 8% in the year through March, according to the Federal Reserve’s latest weekly survey. Total loans fall by $447 billion to $5.45 trillion, Fed data show. Meanwhile, total deposits, which provide the funds that banks lend out to borrowers, jumped 16% to $10.13 trillion. Their combined loan-to-deposit ratio ...

Bloomberg Credit Suisse Group AG slashed the amount of money set aside for bonuses by hundreds of millions of dollars and used the savings to limit financial hit from the implosion of Archegos Capital Management, Financial Times (FT) reported. Cuts to bonus pool accruals and other one-off items added about $600 million to underlying profit before tax for the first ...