For decades, the donation bin has offered consumers in rich countries a guilt-free way to unload their old clothing. In a virtuous and profitable cycle, a global network of traders would collect these garments, grade them, and transport them around the world to be recycled, worn again, or turned into rags and stuffing. Now that cycle is breaking down. Fashion ...

LONDON / Reuters Saudi Aramco has not invited UBS and Bank of America Merrill Lynch to pitch for senior advisory roles in its stock market listing because they have not lent money to the state oil giant in recent years, according to five finance sources. The two investment banks, among the world’s biggest, have not been asked to attend meetings ...

Bloomberg The European Central Bank (ECB) should adjust its policy guidance before the summer and shouldn’t have any problems ending net asset purchases in one swoop after September, Governing Council member Ardo Hansson said. While the Estonian policy maker judged the ECB’s current stance as broadly appropriate, he argued in an interview with German newspaper Boersen-Zeitung that there was a ...