Bloomberg Cathay Pacific Airways Ltd agreed to pay $287 million in cash for Hong Kong’s only budget airline to enter the no-frills market, after more than a decade resisting such a move to focus on premium services. Cathay plans to operate Hong Kong Express Airways, part of HNA Group, as a standalone carrier after the transaction is completed by December …

Bloomberg Steinhoff International Holdings NV raised $332 million by selling its remaining shares in KAP Industrial Holdings Ltd as the embattled retailer looks to shore up its balance sheet. The owner of Conforama in France and Mattress Firm in the US sold its 26 percent stake in the South African industrial company at a 9.4 percent discount, Steinhoff said. The …

Bloomberg Bed Bath & Beyond Inc soared as much as 30 percent — the most intraday in 19 years — on news that activist investors plan to challenge the home-goods retailer’s directors in a proxy fight. The company responded by saying the investors have ignored its requests for feedback and only appear interested in gaining ammunition for an activist battle. …