Bloomberg Ralph Lauren Corp has reopened a significant portion of its global store network and will accelerate its digital plans as pandemic restrictions ease around the world. Chief Executive Officer Patrice Louvet said all stores in China and Korea are back in business, and Japan and Australia are set to return this week. Two-thirds of Ralph Lauren stores have been ...

Bloomberg Scandinavia’s main carrier SAS AB warned shareholders it will need to generate more funding to see it through the crisis triggered by Covid-19. The company has halted most of its traffic and started a process to cut 5,000 jobs, it said. SAS is in “ongoing and constructive discussions” with its “largest owners on a recapitalisation plan to secure adequate ...

Bloomberg Chinese lawmakers approved a proposal for sweeping new national security legislation in Hong Kong, defying a threat by US President Donald Trump to respond strongly to a measure that democracy advocates say will curb essential freedoms in the city. The National People’s Congress (NPC), China’s rubber-stamp legislature, approved the draft decision by a vote of 2,878-1 at its annual ...

Bloomberg China’s Premier Li Keqiang struck a conciliatory tone with the US, saying that the two sides should cooperate and respect each other’s interests as tensions escalate on many fronts. As he spoke, the New York Times reported that President Donald Trump’s administration plans to cancel the visas of thousands of graduate students and researchers in the US with direct ...

Bloomberg Boris Johnson appealed to the UK to “move on” from the controversy over claims that his top adviser broke lockdown rules, as the prime minister tried to fight off a growing revolt from within his own party. Johnson said he was “sorry” for the “pain” and “anguish” the public had suffered since March, when he ordered sweeping restrictions on ...

Bloomberg Brazil’s federal police targeted allies of President Jair Bolsonaro as part of an investigation mandated by the Supreme Court into the spread of fake news, potentially fuelling an institutional crisis between the three branches of government. Search and seizure orders were carried out in six states under a probe led by Justice Alexandre de Moraes. In his decision, Moraes ...

Bloomberg Fatou Fofana used to be able to support herself, her baby daughter and two other children by selling spices and stock cubes on the outskirts of Abidjan, Ivory Coast’s biggest city. But measures to contain the coronavirus have reduced her earnings to about $2 a day, leaving her reliant on local food aid to survive. The 39-year-old’s market stall ...

Bloomberg Nearly a third of Russians believe that the threat from the coronavirus crisis has been massively overblown, according to an opinion poll published on Thursday. More than 23% dismiss the pandemic as the invention of people who have an interest in promoting such a myth, showed the survey of 7,600 people from across Russia conducted on May 21-26 by ...

Bloomberg Several of Denmark’s biggest banks will see their so-called bail-in buffers come under intense pressure as the Covid-19 crisis triggers an historic economic slump. Stress tests published by the Danish central bank show that lenders may need to issue as much as 160 billion kroner ($24 billion) until 2022 to maintain a layer of capital known as MREL, which ...

Bloomberg Bank of America Corp. (BofA) Chief Executive Officer Brian Moynihan said he expects the company’s traders to do very well in the current quarter, while not up to the pace set in the first three months of the year. Combined bond- and stock-trading revenue may rise in the “high single digits” or even close to 10% from a year ...