Bloomberg Gap Inc lowered its projection for 2021 sales and profit as supply-chain bottlenecks led to lost sales and higher expenses. The shares fell in trading. Gap now sees revenue growing about 20% for the full year — down from its previous projection of a 30% gain. Analysts had projected revenue to be 28% higher this year, according to estimates ...

Bloomberg The Biden administration included Taiwan among the 110 invitees to its upcoming democracy summit, the State Department announced, a move that’s intended to show solidarity with a key regional partner but risks angering China. Taiwan was invited to join nations, including the UK and Japan, at the December 9-10 virtual summit, the State Department said on its website. The ...

Bloomberg Olaf Scholz is set to succeed Angela Merkel as German chancellor after forging an unprecedented alliance that aims to revamp Europe’s largest economy by tackling climate change and promoting digital technologies. After nearly two months of intense negotiations, Scholz’s center-left Social Democrats said they would present their agreement with the Greens and the pro-business Free Democrats. Details of the ...