Bloomberg Big Texas-based department-store chain seeks new leader: must be willing to tackle sluggish sales, failed fashion and $4 billion in long-term debt. JC Penney Co., once again, is searching for a new chief executive after Marvin Ellison was poached by home-improvement retailer Lowe’s Cos. on May 22, a surprise exit that sent JC Penney’s stock down to historic lows. …

Bloomberg Marks & Spencer Group Plc owned up to its mistakes, saying it needs to close more stores and catch up to rivals in e-commerce as Chairman Archie Norman tries to pull the UK retailer out of a crisis that has dragged on for more than a decade. A decline in sales of food and clothing in the fourth quarter …

ABU DHABI / WAM The Central Bank announced that the Money Supply aggregate M1 increased 1.3 percent, from AED510.6 billion at the end of March 2018 to AED517.4 billion at the end of April 2018. The Money Supply aggregate M2 increased 1.5 percent, from AED1293.8 billion at the end of March 2018 to AED1313.1 billion at the end of April 2018. …