Bloomberg Kohl’s Corp’s sales fell in the past quarter as the pandemic continues to roil the retail world, but Chief Executive Officer Michelle Gass sees plenty of reason for optimism. The retail chain’s digital revenue remains elevated and profitability is improving, Gass said in an interview. And while the company’s preliminary fourth-quarter results showed an 11% decline in same-store sales …

Bloomberg Rolls-Royce Holdings Plc plans to shutter civil aerospace production for two weeks over the summer, cutting pay for 19,000 workers as the coronavirus crisis stunts demand for airliner engines. The measures relate to negotiations with unions announced last summer and will affect 12,500 people in the UK, where Rolls-Royce is based, a spokesman said. The salary reduction will be …

Bloomberg Hong Kong’s stock traders are about to find out whether the $7.3 trillion market can hold its own without its biggest source of flows. Starting Tuesday, trading links via Hong Kong’s exchange operator allowing mainland traders to buy domestic stocks will halt through February 17 due to the Lunar New Year holiday. The stock connect closure will slam the …

Bloomberg Global stocks rise to a record on reflation bets after Janet Yellen pushed for rapid US stimulus and coronavirus infections slowed across the globe. Brent oil advanced above $60 a barrel for this first time in more than a year. US equity futures received a boost from comments by Treasury Secretary Yellen that the US can return to full …

RIYADH / WAM The Joint Coalition Forces have intercepted and destroyed this evening additional bomb-laden UAVs. This was stated by the official Spokesman of the Coalition to Restore Legitimacy in Yemen Brigadier General Turki Al-Malki. “A total of (4) bomb-laden UAVs launched systematically and deliberately by the terrorist Houthi militia to target civilians and civilian objects in the Southern Region …

Bloomberg One year after the first glimmers of the catastrophe awaiting global oil markets — from deserted Chinese cities to grounded jets — crude is staging a remarkable turnaround. The crisis triggered by the deadly coronavirus was the worst the petroleum industry has ever seen. Fuel demand crashed by a fifth, prices slumped below zero, producers fought viciously over customers, …

Bloomberg Northam Platinum Ltd is considering making an offer for the mothballed Bokoni mine as it seeks to expand output and capitalise on a rally in platinum-group metal prices, according to three people familiar with the plan. South Africa’s fourth-biggest platinum producer has evaluated a bid for Bokoni but no final decision has been taken and the company is yet …

Bloomberg IDB Invest is in talks to roll out so-called decarbonisation loans to projects in Latin America as the multilateral institution looks to help the region meet its climate goals by accelerating the replacement of fossil fuel assets. “In energy, we are talking to different clients both in Chile and Costa Rica,” Chief Investment Officer Gema Sacristan said. “Our focus …

Bloomberg Siemens Energy AG will cut roughly a sixth of workers from its gas and power division in the latest sign that the worldwide shift to green energy is upending the fossil-fuel businesses. The company will eliminate 7,800 jobs by the end of its 2025 financial year, including about 3,000 positions in Germany and 1,700 in the US. Roughly three-quarters …

Bloomberg Taiwan penalised Deutsche Bank AG and three other foreign lenders after a probe into speculation on the surging local currency last year involving grain companies. Deutsche Bank’s trading approvals for Taiwan dollar deliverable forwards and non-deliverable forwards will be revoked, and it will be banned from engaging in transactions of foreign exchange derivatives for two years, the island’s central …