Bloomberg Activist investor Jana Partners believes Macy’s Inc could boost its valuation by spinning off its e-commerce business. Jana said in an investor presentation that the retail chain could follow the lead of Saks Fifth Avenue, whose owner spun out its e-commerce business. At a similar valuation, Macy’s online business could be worth about $14 billion, Jana said. Macy’s as …

Bloomberg Virgin Atlantic Airways Ltd is searching for a candidate to take over as chairman in the event plans for an initial public offering go ahead, a person with knowledge of the situation said. A London listing would compel current Chairman Peter Norris to stand down since he occupies the same post at Virgin Group, owned by the carrier’s founder …

Bloomberg European banks are falling short in their lobbying effort against oncoming stricter capital rules which would limit their ability to boost shareholder returns, according to people familiar with the matter. Lenders expect the European Commission to disregard their plea to retain significant freedom to assess the riskiness of their own loans, as the region implements the global bank standards …