Bloomberg Fawaz Alhokair Group, the Saudi retailer that owns the franchise for brands like Banana Republic and Zara, may raise as much as $1 billion from the share sale of its malls unit in what would be the kingdom’s biggest initial public offering in five years. Arabian Centres Co. said Tuesday that it will sell 65 million existing shares and …

Bloomberg US oil refiners, in line for a windfall from new ship-fuel rules, are taking steps to lock in the change quickly, concerned it could fall victim to President Donald Trump’s re-election push. Under the new rules, many shippers will switch to low-sulfur fuels, boosting competition and, potentially, increasing the price of diesel, jet fuel and heating oil. The US …

Bloomberg US stocks faltered in their pursuit of all-time highs as investors sifted through a group of high-profile earnings for clues on the strength of the American economy. The 10-year Treasury yield reached its highest level since the March Federal Reserve meeting. The S&P 500 failed to hold its six-month high after UnitedHealth Group Inc erased a gain that topped …