Bloomberg Kroger Co plans to close two Southern California supermarkets following passage of a local ordinance that requires grocery stores to raise their frontline workers’ hourly pay by $4. A Ralphs store and a Food 4 Less store in Long Beach, California, will close on April 17, the company said in a statement. A spokesperson declined to provide additional information ...

Bloomberg Hong Kong’s retailers didn’t see much benefit from the key holiday shopping season, with sales plunging in December after the government tightened controls to combat a surge in virus cases. Retail sales by value fell 13.2% from a year ago to HK$31.4 billion ($4.05 billion), after dropping a revised 4.1% in November, the Hong Kong Census and Statistics Department ...

Bloomberg Three listed companies of China’s HNA Group Co said shareholders and affiliates misappropriated at least 63 billion yuan ($9.8 billion) of funds, deepening the woes of the indebted conglomerate that’s set to be restructured. Hainan Airlines Holding Co, HNA Infrastructure Investment Group Co and CCOOP Group Co also reported they have failed to disclose about 46 billion yuan in ...