Bloomberg Revlon Inc plunged 53%, the biggest one-day drop on record, after distressed debt news outlet Reorg reported that the cosmetics empire is preparing to file for the bankruptcy. The company, controlled by billionaire Ronald Perelman, could file as soon as next week, Reorg said, citing unnamed sources. Revlon shares triggered the multiple trading halts because of the volatility, ...

Bloomberg China’s defense chief issued one of the country’s strongest warnings yet about the risk of war over Taiwan, even as he reaffirmed Beijing’s commitment to maintain peace in Asia. In a speech to the region’s biggest security conference Sunday, Chinese Defense Minister Wei Fenghe repeatedly expressed Beijing’s willingness to fight to prevent a formal split by the democratically elected ...

  Bloomberg Chinese military officials in recent months have repeatedly asserted that the Taiwan Strait isn’t international waters during meetings with US counterparts, according to a person familiar with the situation, generating concern within the Biden administration. The statement disputing the US view of international law has been delivered to the American government by Chinese officials on multiple occasions and ...