Bloomberg Hennes & Mauritz AB (H&M) stores in some parts of China are being closed by their landlords as fallout from the fashion retailer’s statement about forced labour in the contentious region of Xinjiang continues to spread. At least six stores in the lower-tiered cities of Urumqi, Yinchuan, Changchun and Lianyunang have been shut down by the owners of the …

Bloomberg Norwegian Air Shuttle ASA secured approval of its restructuring plans from an Irish High Court judge, paving the way for the discount carrier to exit insolvency and raise up to $582 million in fresh capital. The examinership process won legal backing after earlier gaining the support of the majority of Norwegian’s creditors and shareholders. The company will now submit …

Bloomberg African banks need to improve operating efficiencies and mitigate other risks quickly to avoid a revenue slump of as much as $48 billion over the next three years. If risks go unchecked, multiple years of low profitability will likely follow, according to a report by McKinsey. “Lessons from the 2008 economic crisis suggest that, in times of crisis, speed …