Bloomberg Hennes & Mauritz (H&M) AB rose to the highest in almost two years after a popular summer collection helped the Swedish retailer put a dent into its bulging inventory. The stock rose as much as 7.5% after quarterly earnings gained for the first time this year. The third-quarter report was a rare bright spot in the gloomy world of …

Bloomberg PayPal Holdings Inc. pulled out of the Libra Association, a blow to Facebook Inc.’s efforts to develop a digital currency. “PayPal has made the decision to forgo further participation in the Libra Association at this time and to continue to focus on advancing our existing mission and business priorities as we strive to democratise access to financial services for …

Bloomberg Oil registered its biggest weekly decline since July as a streak of disappointing economic data compounded fears about a global recession. The 0.7% rise in New York-traded futures wasn’t enough to correct a 5.5% drop for the week. Rising US payrolls and the lowest unemployment rate in five decades undercut prospects of interest-rate cuts by the Federal Reserve. “The …