Bloomberg Kraft Heinz Co, the iconic food giant created in a merger five years ago, was downgraded to junk by two credit raters, raising fresh worries among investors that a slowing economy could threaten the broader corporate bond market. The packaged-food company was cut one level to BB+ by S&P Global Ratings, following Fitch Ratings last week. It will now …

Bloomberg Saks, Gucci, Louis Vuitton and other luxury retailers were accused in a lawsuit of agreeing to not hire sales clerks from each other’s stores in violation of US antitrust law. The companies conspired to enter into “no-hire agreements” that prohibit them from hiring employees who have worked within six months for rival brands, according to the complaint filed last …

Bloomberg China’s spending on overseas energy projects has dropped to its lowest in more than a decade, as the nation focusses on domestic issues and rethinks its strategy around indebtedness and the world’s energy mix. The nation’s foreign energy financing dropped by 69% to $3.2 billion in 2019, according to data from Boston University’s Global Development Policy Center. Only three …