Bloomberg Hennes & Mauritz AB’s woes in Asia deepened after a “problematic” map on its website drew the attention of Chinese authorities, with the retailer’s attempts to resolve the matter then angering consumers in Vietnam. H&M’s Shanghai unit was summoned by two of the city’s regulators to correct mistakes on the image, and the company said it will carry out …

Bloomberg Starbucks Corp plans to eliminate disposable cups from its cafes across South Korea by 2025, the first such measure in a major market by the coffee giant, as it seeks to curb landfill waste and cut its carbon footprint. The Seattle-based chain will launch a “cup circularity” program in South Korea, starting July, as it begins tackling its global …

Bloomberg China’s central bank asked the nation’s major lenders to curtail loan growth for the rest of this year after a surge in the first two months stoked bubble risks, according to people familiar with the matter. At a meeting with the People’s Bank of China (PBOC) on March 22, banks were told to keep new advances in 2021 at …

Bloomberg Credit Suisse Group AG unloaded about $2.3 billion worth of stocks tied to the Archegos Capital blowup more than a week after some rivals dumped their shares and skirted losses. The Swiss bank hit the market with block trades tied to ViacomCBS Inc, Vipshop Holdings Ltd and Farfetch Ltd, a person with knowledge of the matter said. The stocks …

Bloomberg Almost six months after Goldman Sachs Group Inc recommended shorting the dollar, it’s calling it quits on the trade. In a note titled “tactical retreat,” Goldman’s currency team closed its recommended short greenback position against a basket of Group-of-10 commodity currencies, including the Australian and New Zealand dollars. The firm joins hedge funds and other investors capitulating on bearish …

Bloomberg Japan’s largest bank will rebuild its 40-year-old headquarters in Tokyo’s financial district as the lender prepares for a post-Covid world that will also see some compliance roles shift to India. The new building will “significantly reduce” facility expenses for the financial group by bringing together about 19,000 workers who are currently located in nine different locations across the downtown …

Bloomberg Australia’s central bank kept its key policy instruments unchanged Tuesday following the cooling of a global bond selloff and as the impact of record-low interest rates on asset markets comes into focus. Reserve Bank of Australia (RBA) Governor Philip Lowe and his board held the cash rate and three-year yield target at 0.10% and made no changes to the …

Bloomberg Singapore once again warned the public about the risks of trading cryptocurrencies like Bitcoin, a market that while relatively small in the city-state surged in significance over the past year. “Cryptocurrencies can be highly volatile, as their value is typically not related to any economic fundamentals,” Tharman Shanmugaratnam, the chairman of the Monetary Authority of Singapore, said in response …

Bloomberg American stock futures dipped, suggesting the rally that drove the S&P 500 to an all-time high may pause as concern China is curtailing loan growth tempered optimism stoked by the US economic rebound. Contracts on the S&P 500 slipped along with those on the Nasdaq 100 after large US technology stocks rise, including a surge by Facebook Inc. to …

Bloomberg Gold advanced as investors weighed a drop in real yields against solid US data that signaled a recovery from the pandemic. Bullion rises as much as 0.6% after ending it was little changed. Real yields fall for the third time in four sessions, buoying gold’s attractiveness. Still, data point to a rebound as more Americans are vaccinated against the …