Bloomberg Six months after switching to a four-day working week, the UK’s Atom Bank said it has seen benefits from talent retention to improved productivity. There was a 49% increase in job applications at the bank in January 2022 compared to a year ago, while staff retention rates have also risen, according to a press release on Wednesday. Days ...

  Bloomberg US index futures struggled for direction as investors digested the latest hawkish noises from the Federal Reserve amid mounting signs of a global economic slowdown. Futures on the S&P 500 and Nasdaq 100 fluctuated between modest gains and losses, with markets on edge ahead of the Jackson Hole central bankers’ retreat later this week. The 10-year Treasury yield ...

  Bloomberg Hedge funds ramped up bets on megacap US tech stocks and whittled down overall holdings to focus on favored names last quarter, with conviction climbing back to levels seen at the start of the pandemic, according to Goldman Sachs Group Inc. The funds boosted tech and consumer discretionary holdings, while cutting energy and materials wagers, strategists including Ben ...

  Bloomberg London Gatwick airport said it will end capacity caps this month, bringing some relief to travelers as schedule reductions at the UK capital’s larger Heathrow hub continue through the winter season. Gatwick, controlled by French builder Vinci SA, has hired 400 security staff to help resolve a labour crunch while delegating other workers to address shortages at airport ...

  Bloomberg Financially troubled Indian carrier SpiceJet Ltd is open to investment from external parties, including other airlines, as it seeks to raise 20 billion rupees ($250 million), Chairman Ajay Singh told reporters in New Delhi. Singh declined to say what other carriers SpiceJet may be in discussions with but indicated an equity stake sale may be one option. SpiceJet’s ...

  Bloomberg Global consumer giants selling everything from jewellery to t-shirts saw sales in China tumble in their most recent quarter as Covid Zero lockdowns hammered consumer demand in the world’s second-largest economy. Starbucks Corp was particularly hard hit, reporting a more than 40% drop in sales in the quarter ended on July 3. The company began the period with ...

  Bloomberg The unraveling of the latest meme stock frenzy is accelerating as bad news for one of the most popular retail-trader favourites piles up and investors dump riskier assets. Bed Bath & Beyond Inc tumbled 16%, marking a now three-day drop that’s erased 60% of its market value, after a report some suppliers were restricting or halting shipments altogether ...

  Bloomberg Matalan Ltd’s founder John Hargreaves has proposed injecting tens of millions of pounds into the struggling retailer to keep control of the business even as its creditors push for a sale, Sky reported citing people familiar with the matter. Hargreaves, who reinstated himself as Matalan chairman last month, wants to invest between £25 million and £50 million cash ...

  Bloomberg JD.com Inc reported stronger-than-projected revenue growth after consumers continued to flock to the country’s second-largest online retailer despite an economic slowdown. Sales hit 267.6 billion yuan ($39.1 billion) during the second quarter, beating the average forecast of 261.7 billion yuan. The Beijing-based company logged net income of 4.4 billion yuan, following three consecutive quarters of losses. Its shares ...

  Bloomberg US index futures posted modest gains, Treasuries nursed losses and the dollar was steady as markets remained on edge ahead of the Jackson Hole central bankers’ symposium later this week. Futures on the the S&P 500 and Nasdaq 100 fluctuated before turning higher after US stocks plunged the most in two months. The 10-year Treasury yield held above ...