Bloomberg New York’s biggest mall has reached a deal with lenders to avoid a default after the pandemic and years of retail turmoil left it deeply underwater on its mortgages. Destiny USA, a 2.4 million-square-foot (223,000-square-meter) shopping center in Syracuse, owed $430 million on two mortgage-backed securities that missed a June 6 repayment deadline. The mall’s owner, Pyramid Management ...

  Bloomberg Euro area economic expansion slowed sharply as surging prices curbed the rebound from pandemic restrictions and factories continued to suffer from supply snarls. An indicator for economic activity by S&P Global falls to a 16-month low in June, driven by rampant inflation, concerns over energy and rising borrowing costs. While the overall gauge still signals modest expansion, manufacturing ...

Bloomberg German business confidence unexpectedly deteriorated on mounting fears over energy supplies from Russia that are raising the prospect of a recession in Europe’s biggest economy. A gauge of expectations by the Munich-based Ifo Institute fell to 85.8 in June from 86.9 in May, defying analyst predictions that two months of gains would continue. An index of current conditions edged ...