Bloomberg Hennes & Mauritz AB’s woes in Asia deepened after a “problematic” map on its website drew the attention of Chinese authorities, with the retailer’s attempts to resolve the matter then angering consumers in Vietnam. H&M’s Shanghai unit was summoned by two of the city’s regulators to correct mistakes on the image, and the company said it will carry out ...

Bloomberg Starbucks Corp plans to eliminate disposable cups from its cafes across South Korea by 2025, the first such measure in a major market by the coffee giant, as it seeks to curb landfill waste and cut its carbon footprint. The Seattle-based chain will launch a “cup circularity” program in South Korea, starting July, as it begins tackling its global ...

Bloomberg China urged Japan to steer clear of “internal issues” including Hong Kong and Xinjiang as Japanese Prime Minister Yoshihide Suga prepares to meet US President Joe Biden later this month. Chinese Foreign Minister Wang Yi told his counterpart Toshimitsu Motegi that he hoped Japan could treat China’s development from an “objective and rational” perspective, rather than be led by ...

Bloomberg Russian opposition leader Alexey Navalny, on a hunger strike since last week, has been moved to the prison infirmary with a respiratory infection, the Federal Penitentiary Service said, according to the Izvestia newspaper. Navalny, 44, reported a severe cough and a fever of 38.1 degrees Celsius (100.6 degrees Fahrenheit), saying three other prisoners in his unit have been hospitalized ...

Bloomberg India and Russia’s top diplomats sidestepped questions on the pending delivery of Moscow’s controversial S-400 weapons system to New Delhi and vowed to deepen military-technical cooperation following a meeting in New Delhi on Tuesday. The South Asian nation’s planned purchase of the anti-aircraft missile system from Russia — due for delivery in December — has raised the risk of ...

Bloomberg An attack by suspected militants on a prison in southeastern Nigeria was an act of terrorism, President Muhammadu Buhari said. The attackers targeted a police headquarters and a jail in Imo state, the police said in a statement. The raid was carried out by members of the separatist Indigenous People of Biafra and its armed wing, the Eastern Security ...

Bloomberg China’s central bank asked the nation’s major lenders to curtail loan growth for the rest of this year after a surge in the first two months stoked bubble risks, according to people familiar with the matter. At a meeting with the People’s Bank of China (PBOC) on March 22, banks were told to keep new advances in 2021 at ...

Bloomberg Credit Suisse Group AG unloaded about $2.3 billion worth of stocks tied to the Archegos Capital blowup more than a week after some rivals dumped their shares and skirted losses. The Swiss bank hit the market with block trades tied to ViacomCBS Inc, Vipshop Holdings Ltd and Farfetch Ltd, a person with knowledge of the matter said. The stocks ...

Bloomberg Almost six months after Goldman Sachs Group Inc recommended shorting the dollar, it’s calling it quits on the trade. In a note titled “tactical retreat,” Goldman’s currency team closed its recommended short greenback position against a basket of Group-of-10 commodity currencies, including the Australian and New Zealand dollars. The firm joins hedge funds and other investors capitulating on bearish ...

Bloomberg Japan’s largest bank will rebuild its 40-year-old headquarters in Tokyo’s financial district as the lender prepares for a post-Covid world that will also see some compliance roles shift to India. The new building will “significantly reduce” facility expenses for the financial group by bringing together about 19,000 workers who are currently located in nine different locations across the downtown ...