Bloomberg Alessandro Michele, the creative director who turned Gucci into a hit brand with younger generations, is leaving the Italian label. Kering SA, which owns the brand, announced Michele is stepping down in a statement. Gucci’s design office will oversee the label’s direction until a new creative organisation is announced, the company said. Michele, 49, helped turn the Florence, …

  Bloomberg China’s mega banks, led by Industrial & Commercial Bank of China Ltd., (ICBC) pledged financing support of at least 925 billion yuan ($129 billion) to property developers as part of a push to ease turmoil in the nation’s real estate market. ICBC, the world’s largest bank by assets, on Thursday said it would provide 655 billion yuan in …

  Bloomberg UBS Group AG has seen significant inflows into its Asia Pacific wealth management over the past three months from clients fleeing Credit Suisse Group AG, as its smaller Swiss rival struggles with a crisis of confidence. Hundreds of wealthy customers have sought to place their funds with UBS in the key growth region, and the bank is planning …