Bloomberg Victoria’s Secret UK arm is appointing an administrator to help overhaul its business, amid plunging sales across the retail sector. The unit of Ohio-based L Brands Inc, which operates 25 stores in the country, will appoint Deloitte to renegotiate leases or sell the stores, Stuart Burgdoerfer, the unit’s interim chief executive officer, said in an emailed statement. Victoria’s Secret …

Bloomberg Yandex NV will test a driverless car it developed with Hyundai Motor Co. in Detroit as the Russian technology giant makes plans to approximately double its fleet of self-driving vehicles. Yandex plans to buy 100 of the cars, which are souped-up versions of Hyundai’s Sonata, the company said in a statement. The test-drives, which had been planned around the …

Bloomberg Worldwide smartphone shipments are expected to fall by 11.9% this year — their biggest annual drop ever — indicating things are going to get worse for the industry before they get better. In its latest market forecast, research firm IDC anticipates shipments of 1.2 billion in 2020, down from just under 1.4 billion last year. The annual forecast follows …