Bloomberg Amazon.com Inc is tacking on a delivery fee for Prime members who shop at Whole Foods Market in several US cities, an indication that the economics of grocery delivery continue to pose a challenge for even the world’s largest online retailer. Shoppers were informed of a $9.95 service fee for deliveries beginning on August 30 in the Boston and ...

Bloomberg Hong Kong’s retailers saw a sharp downturn in June as the city’s borders remain closed to tourists, with businesses looking ahead to the distribution of consumption vouchers for a boost in coming months. Retail sales by value grew 5.8% in June from a year ago to HK$28.1 billion ($3.6 billion), a government report showed, well short of the 14.1% ...

Bloomberg Alibaba Group Holding reported revenue that missed estimates, suggesting plans to hike spending in pursuit of growth have yet to gain traction. Revenue for the three months ended June climbed from a year earlier to 205.7 billion yuan ($31.8 billion), compared with the 209.4 billion yuan average of analyst estimates. Net income was 45.1 billion yuan, rebounding from a ...

Bloomberg The race towards zero-emission logistics chains is expanding from the road to the skies. DHL Express, the air cargo subsidiary of Deutsche Post AG, has ordered 12 all-electric aircraft to complement its fleet of battery-powered delivery vans and bikes, a move that will reduce emissions from air services. The Eviation Aircraft Ltd-built freighters, known as Alice models, will be ...

Bloomberg Societe Generale SA gave an upbeat outlook for the year as the economic recovery allows it to set aside less for soured loans and a rebound in equities trading fueled earnings that beat analysts’ estimates. The Paris-based lender expects to set aside 10 basis points less — equal to about 500 million euros ($593 million) — for souring debt ...

Bloomberg Dai-ichi Life Holdings Inc is nearing a deal for Westpac Banking Corp’s life insurance unit that could value the business at about $1 billion, according to people with knowledge of the matter. Dai-ichi Life is in exclusive talks with Australia’s second-largest bank and an announcement could come as soon as this month, the people said, asking not to be ...

Bloomberg July was a brutal month for the Philippine peso and there appears to be little respite on the horizon. After capping its steepest monthly decline in over three years, the currency could extend losses due to a worsening virus outbreak and the risk of a sovereign rating downgrade. It may drop towards 51 per dollar, a level last reached ...

Bloomberg Goldman Sachs Group Inc and Credit Suisse Group AG are joining rivals in bumping pay for junior bankers, following uproar earlier in the year over the work-till-you-drop culture exposed by the pandemic. Goldman Sachs will now pay first-year analysts at least $110,000 up from $85,000, according to people familiar with the matter. Their second-year counterparts will get $125,000 up ...

Bloomberg Banking Circle, a financial technology startup, is seeking to raise new funding at a valuation of around $5.9 billion, according to people with knowledge of the matter. The company, led by Anders la Cour and Laust Bertelsen, is working with advisers to solicit interest from investors for a roughly $500 million funding round, the people said, asking not to ...

Bloomberg Banca Monte dei Paschi di Siena SpA’s bondholders are expected to be shielded from any losses in the event of a takeover by UniCredit SpA, according to people familiar with the matter. UniCredit and the Italian Treasury are looking at options to protect holders of Paschi debt from losses if the deal is finalised, including the possibility for Italy’s ...