Bloomberg Marks & Spencer Group Plc plans to close around a third of its large UK stores over the next four years, as the retailer belatedly adapts to the rise of e-commerce. M&S will close more than 100 stores that sell both clothing and food by 2022, the company said in a statement. The London-based retailer intends to increase the …

Bloomberg Airbus SE may end up with a significant new customer as Ryanair Holdings Plc looks to beef up a newly acquired unit that uses planes from the European manufacturer. Ryanair, which previously operated only Boeing Co. aircraft, will expand the fleet at Austria’s LaudaMotion to as many as 50 Airbus A320s over four years and the narrow-body model could …

Bloomberg A ban on mohair by dozens of clothing retailers, including Hennes & Mauritz AB and Esprit Holdings, is threatening a $117 million industry in South Africa, the world’s biggest producer of the fibre. Almost 70 clothing companies worldwide have announced they’ll stop using mohair following the release this month of video footage from twelve Angora goat farms in South …

Bloomberg US regulators have approved a Buck Rogers makeover of Boeing Co.’s revamped 777 jetliner that will allow the tips of its massive wings to fold upward after landing so the plane can park at existing airport gates. The new wings, the largest ever created by the Chicago-based planemaker, are taking shape as Boeing builds the first of its 777X …

Bloomberg As corporate defaults pile up in China’s onshore bond market, a unit of a once-promising energy conglomerate with $4.8 billion of debt and a checkered past said it won’t be able to meet its payment obligation on Monday. CEFC Shanghai International Group Ltd., a unit of the privately-held CEFC China Energy Co., failed to repay 2 billion yuan ($313 …

Bloomberg Oil advanced towards $72 a barrel as Venezuela’s election results escalated the risk of US sanctions against the OPEC nation, adding to mounting concerns about supply following curbs against Iran. Futures in New York rose as much as 0.9 percent. President Nicolas Maduro won the elections in Venezuela, increasing the prospect of US sanctions that could curb the nation’s …

Bloomberg Ghana sees the country’s state-owned gas-station operator as the leading bidder to partner Exxon Mobil Corp. to explore for crude at an offshore field, according to two people familiar with the matter. Exxon was awarded exploration and production rights for the Deepwater Cape Three Points block in January and must choose a local partner for a 5 percent stake …

Bloomberg US stocks surged and the dollar strengthened against most major peers and as the Trump Administration sought to deescalate a trade rift with China. Treasury yields climbed as havens such as the yen and gold tumbled. All major equity gauges were higher led by strength in technology companies. The greenback rose after Treasury Secretary Steven Mnuchin said that the …

Bloomberg The gains in Malaysian equities since Mahathir Mohamed’s shock election win haven’t stopped an exodus of foreign money from gathering pace — with this year’s almost $1 billion of overseas inflows into the market at risk of being wiped out. The nation’s stock market had a volatile start following a three-day holiday for the election, before the benchmark inched …

Bloomberg As China’s crackdown on shadow banking shrinks smaller banks’ valuations relative to larger peers, the outlook is dimming for the country’s regional lenders queuing up to list their shares. Small bank shares have been slipping relative to China’s lending giants like Industrial & Commercial Bank of China Ltd. and Agricultural Bank of China Ltd. due to their deeper involvement …