Bloomberg Short-sellers have driven big losses in the favourite stocks of South Korean retail investors this month, piggybacking on a campaign by local regulators to rein in the power of Kakao Corp and other internet giants. Kakao, the operator of Korea’s most-used messenger app, is the most-shorted stock in September as lawmakers voiced concerns over its market dominance — a …

Bloomberg China’s top regulators defended their market-roiling crackdown on various industries in a meeting with Wall Street executives, while reassuring them the stricter rules aren’t aimed at stifling technology companies or private sector. China Securities Regulatory Commission Vice Chairman Fang Xinghai said recent actions were to strengthen regulations for companies with consumer-facing platforms, and improve data privacy and national security. …

Bloomberg Oil declined amid Russia’s plans to boost upcoming overseas oil sales and as the dollar rallied. Futures in New York ended the session nearly 1% lower. Russia will increase its oil exports 3% in the fourth quarter, according to Interfax. Meanwhile, gains in the US dollar reduced investor interest in commodities priced in the currency. “There’s been demand destruction …

Bloomberg China applied to join an Asia-Pacific trade pact once pushed by the US as a way to isolate Beijing and solidify American dominance in the region. The country submitted a formal application letter to join the deal, known officially as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, according to a statement in Beijing. The treaty was originally envisioned …

Bloomberg The UK government eased coronavirus testing requirements for fully vaccinated people arriving in England, removing a significant barrier to travel and boosting airlines and tourism firms. Those with two doses flying from nations that aren’t high risk will be exempt from a pre-departure test, while screening after arrival will be downgraded to quicker and cheaper lateral-flow tests, according to …

Bloomberg Airbus SE union IG Metall said it could call for further industrial action in a dispute over the planemaker’s plans to restructure German parts operations. The labour group held a day of strikes and rallies to protest plans to overhaul subsidiaries that make wing and fuselage sections. The move, first announced in April, would involve the creation of new …

Bloomberg British Airways operated what was billed as a “carbon neutral” flight this week between London and Glasgow, as it tries to burnish its green credentials in the lead-in to next month’s COP26 climate summit in Scotland. While it was a lower-emissions flight, the attempt by IAG SA’s flagship airline to apply a zero-carbon label exposes the problems that the …

Bloomberg John Lewis Partnership Plc’s loss narrowed in the first half as the British retailer’s turnaround efforts started to pay off. The operator of the John Lewis department store and upmarket grocer Waitrose said the $40 million pretax loss came after taking almost 100 million pounds of exceptional costs related to store closures and redundancy payments. This is a significant …

Bloomberg China injected more cash into its banking system in a sign authorities are seeking to avert a funding squeeze amid a seasonal rise in financing demand and the intensifying debt crisis at China Evergrande. The People’s Bank of China (PBOC) added 90 billion yuan ($14 billion) of funds on a net basis through seven-day and 14-day reverse repurchase agreements, …

Bloomberg Mitsubishi UFJ Financial Group Inc is considering selling its US banking arm, as consolidation heats up in the American financial industry. The Japanese lender is working with an adviser to explore options for MUFG Union Bank NA, said the people, who asked to not be identified because the matter isn’t public. Mitsubishi UFJ has held some informal discussions with …