Bloomberg Marks & Spencer Group Plc reported its steepest drop in clothing sales in eight years as new chief Steve Rowe’s efforts to win back customers with cheaper prices on leggings and fewer clearances came at a cost. Same-store sales of clothing and home goods fell 8.9 percent in the 13 weeks ended July 2, the London-based company said ...

Bloomberg Deutsche Lufthansa AG’s plane-servicing business, the German airline’s most profitable unit, is more than quadrupling research and development spending to shore up its dwindling market share and fading margins. The Lufthansa Technik maintenance, repair and overhaul division is in the middle of a 200 million-euro (US$221 million), five-year R&D program that’s come up with products such as sharkskin-like fuselage ...

  Bloomberg The Bank of England may cut interest rates for the first time since 2009 next week to stabilise an economy in turmoil after Britons voted to leave the European Union, according to a majority of economists. Governor Mark Carney has said stimulus is likely to be needed soon and many economists expect the Monetary Policy Committee to act ...