Bloomberg Australia’s central bank is relying on an obscure piece of legislation dating back to World War II to justify keeping interest rates steady: its rarely-discussed third objective of monetary policy. Traditionally, the Reserve Bank of Australia (RBA) is seen as having a dual mandate of maintaining stability of the currency and full employment. Both goals support its aim to …

Bloomberg Brazil’s long-suffering IPO bankers are headed toward their biggest payday in eight years. This month’s initial public offering for Carrefour SA’s Brazil unit will generate almost 140 million reais ($42 million) in fees for a group of local and international banks, based on a regulatory filing from the French grocery company. That tops the 119 million reais paid by …

Bloomberg Marks & Spencer Group Plc (M&S) reported a fresh drop in quarterly clothing revenue and missed estimates for food sales, dealing a blow to Chief Executive Officer Steve Rowe as he seeks to revive the U.K. retail bellwether. Same-store sales in the clothing and home division fell 1.2 percent in the 13 weeks ended July 1, London-based M&S said …