Bloomberg London Heathrow airport raised its passenger forecast but warned that demand is likely to drop off later in the year as a summer boom gives way to a “winter freeze.” The airport, Europe’s biggest hub before the Covid-19 pandemic decimated travel, raised its annual passenger forecast by 16%. Even so, it will remain unprofitable this year after total losses …

  Bloomberg Cathay Pacific Airways Ltd flights from London to Hong Kong will go from as little as two a month to as many as three a day in June as the airline attempts a rebound of sorts from Covid-19. The airline’s schedule shows a jump in flights days after Hong Kong said it will open to non-residents starting from …

Bloomberg Simon Property Group and Brookfield Asset Management are offering to acquire retailer Kohl’s Corp in a deal that would be worth more than $8.6 billion, according to a report in the New York Post. Simon and Brookfield, which bought rival department-store chain JCPenney out of bankruptcy, have offered $68 a share, according to people with knowledge of the talks …

Bloomberg Walmart Inc is looking to boost its decor credentials with a new outdoor furniture line backed by Dave and Jenny Marrs, a builder-designer duo known for their home-remodeling shows on HGTV. The collection includes a porch swing and dining table from the couple, who star on the show Fixer to Fabulous. Walmart plans to add indoor furniture soon, Julie …

  Bloomberg Urban-Air Port, a UK startup that’s developing hubs for flying taxis, is closing in on 20 million pounds ($25.4 million) in funding after attracting two new equity investors. Canadian services firm Dymond Group will invest in the infrastructure business while a European real-estate operator is also planning to back the company, founder and Executive Chairman Ricky Sandhu said. …

  Bloomberg Gap Inc plummeted after announcing trouble at Old Navy — the brand that generates half of its sales and is seen as the apparel giant’s growth generator going forward. Nancy Green, who joined Old Navy in 2019 after having run Athleta, is leaving soon, Gap said. An external search is under way for her replacement. The retailer also …

Bloomberg Hong Kong is ready to launch yuan-denominated stock trading to cater to investors in Shanghai and Shenzhen, with final clearances from regulators in mainland China expected in the second half of the year, according to people familiar with the matter. The city’s own infrastructure is largely ready to accommodate trading of shares in the Chinese currency via the southbound …

  Bloomberg US stocks rise in a late-day turnaround as dip-buyers emerged ahead of a busy week for Big Tech earnings. The S&P 500 rallied back in a choppy afternoon session to end near highs of the day, after falling to lows near the 4,200 level. The tech-heavy Nasdaq 100 climbed more than 1%. Twitter Inc extended gains after billionaire …

Bloomberg Distressed flag carrier PT Garuda Indonesia plans to undertake a rights issue to raise additional capital and will invite strategic investors to take part as it attempts to revive its ailing business. The airline expects to launch the equity issue after the Indonesian government makes good upon its plan to inject the carrier with fresh funds, Finance Director Prasetio …

  Bloomberg UK convenience store operator McColl’s Retail Group Plc said it is in talks on a financing deal to save the company, but warned shareholders that they face wipeout even if a pact is reached. The stock plunged 55%. “A potential financing solution is under active discussion with its key commercial partner and lenders which would resolve the short …