Bloomberg Investors searching for any hints that a retail recovery is underway got a glimmer of hope, with struggling department-store operator Macy’s Inc inching back to normalcy. The department store chain is still losing money as sales remain well below pre-pandemic levels, but CEO Jeff Gennette said demand is picking up across all of its brands. Its adjusted net loss ...

Bloomberg Arla Foods amba, one of Europe’s top milk producers, reported a 34% jump in profit in the first half of the year as consumers stockpiled products including butter in the midst of the Covid-19 crisis. The pandemic sparked increased dairy consumption in homes, which helped offset declines in the food service sector, according to Arla’s chief executive officer, Peder ...

Bloomberg Peter Strzok, the former FBI agent who started the 2016 probe into Russian election interference, says President Donald Trump remains a “clear and present danger” to US national security after being compromised by personal and financial dealings with Russia. In a new book, “Compromised: Counterintelligence and the Threat of Donald J Trump,” Strzok says that senior FBI officials were ...

Bloomberg President Donald Trump said the US doesn’t know directly whether Alexey Navalny was poisoned, failing to accept the German government’s assessment that the Russian opposition leader was attacked with a nerve agent. German Chancellor Angela Merkel said that medical tests showed “unequivocally” that Navalny had been poisoned by a military-grade novichok nerve agent. Asked about the German conclusion at ...

Bloomberg Defense ministers from India and China agreed to defuse tensions after the latest clash on their Himalayan border revived a conflict that had been largely dormant since June. India’s Rajnath Singh and his Chinese counterpart Wei Fenghe held “frank and in-depth discussions” in Moscow about developments on the border and on bilateral relations, according to a statement from India’s ...

Bloomberg Sudan declared a three-month national state of emergency following floods that killed dozens of people and damaged or destroyed more than 100,000 homes, state-owned news agency Suna reported. The floods have affected over 500,000 people this year, killing 99 and injuring 46 others, Suna cited Labor and Social Development Minister Lena Al-Sheikh as saying. The rate of floods and ...

Bloomberg President Donald Trump said that Serbia and Kosovo had agreed to “economic normalisation,” in what he said was a step towards ending a two-decade old conflict. But the deal fell short of Belgrade recognising its neighbour as an independent nation. “My administration proposed a new way of bridging the divide by focussing on job creation and economic growth,” Trump ...

Bloomberg Italian PM Giuseppe Conte said that coronavirus outbreaks this autumn may prompt local restrictions but not a nationwide lockdown. “I am confident,” Conte said at an event organised by Il Fatto Quotidiano newspaper. “We won’t find ourselves in a situation to order a general lockdown; at worst we’ll have to intervene in a targeted way, with restrictive measures for narrowly ...

Bloomberg Spain’s CaixaBank SA and Bankia SA are exploring a merger to form the largest lender in the country and kickstart consolidation in one of the hardest-hit European economies during the pandemic. The firms are examining an all-share transaction, CaixaBank said in a statement overnight, in a deal that would create a lender with a combined market value of about ...

Bloomberg Deutsche Bank AG has dropped its pursuit of Wirecard AG’s banking unit and related assets after balking at the price sought by the payments company’s insolvency administrator. Wirecard’s insolvency administrator, Michael Jaffe, had been seeking at least $119 million to proceed with a sale of the assets rather than a liquidation. Deutsche Bank had submitted a bid for some ...