Bloomberg British online food retailer Ocado Group Plc has settled its bitter legal fight with one of its co-founders, after he obtained confidential information to help set up a rival business. Ocado sued Jonathan Faiman as well as his business partner Jon Hillary, who also previously worked for the company, and their business Project Today Holdings Ltd for breach of …

Bloomberg The owner of former Sears stores is looking to sell as many as 50 properties as it tries to generate cash and focus on the development of other sites it owns. Seritage Growth Properties, a real estate investment trust that emerged from the Sears bankruptcy, wants to unload 40 to 50 sites that “were less interesting in terms of …

Bloomberg Chinese banks’ stockpile of foreign-currency deposits has surpassed $1 trillion for the first time, creating an opportunity for Beijing to allow greater freedom for capital to flow out of the country. The pool has been growing as surging demand for Chinese goods during the pandemic has beefed up foreign earnings of exporters, while the resilient economy and strengthening currency …