Bloomberg US prosecutors ridiculed celebrity lawyer Michael Avenatti’s claim that he was charged with trying to extort millions of dollars from Nike Inc as payback for his feud with President Donald Trump, calling the allegation a “fantastic notion” based on hyperbole and insinuation. Avenatti asked a judge in August to throw out the case, claiming it was a vindictive prosecution …

Bloomberg Shares of Thomas Cook Group Plc tanked after the UK tourism operator said it needs more emergency financing. Thomas Cook said it will require another $251 million for a “seasonal standby facility,” sending the shares down as much as 28 percent. The company already increased the size of a bailout plan in August by 20 percent to 900 million …

Bloomberg Retails sales increased 0.4 percent in July, the first advance in three months, as consumers spent more on new cars, Statistics Canada said from Ottawa. The gain trailed economist expectations for a 0.6 percent increase. Excluding motor vehicles and gasoline, retail sales fell 0.1 percent on the month. The report falls short of economist expectations for a larger rebound …

Bloomberg Marks and Spencer Group Plc Chief Financial Officer Humphrey Singer plans to leave his post and the UK retailer is searching for his successor. Singer’s departure date hasn’t yet been decided and he’s working with Chief Executive Officer Steve Rowe to ensure a smooth transition, the company said in a statement. “After 18 months of working with Steve to …

GENEVA / WAM The United Arab Emirates (UAE), urged Qatar to stop programmes that promote hate rhetoric and incitement of hatred in its local media, saying the trend threatens the security of countries in the region, including Qatar itself. While delivering the UAE statement before the fourty-second regular session of the Human Rights Council held in Geneva to discuss the …

Bloomberg Saudi Aramco reiterated its commitment to bringing production back to its full capacity by the end of the month. The company will restore 5.7 million barrels per day, said Chief Executive Officer Amin Nasser, the amount that was knocked out by recent attacks on the kingdom’s oil facilities. “We will continue to fulfill our mission of providing the energy …

CAPE TOWN / WAM In recognition of the status of the UAE and its national leadership capabilities, the UAE won the membership of the International Standardisation Organisation (ISO), Council (Group 3), for the term 2020 to 2022, as it garnered 64 of the 108 votes at the ISO meeting. The Emirates Authority for Standardisation and Metrology (Esma), obtained the votes …

Bloomberg Amazon.com Inc’s Alexa has mastered Hindi in just a few years. The voice assistant introduced to India in 2017 gets a major local makeover for one of the largest retail markets. Amazon launched a version that now speaks Hindi and Hinglish — a unique blend with English. It can also switch automatically between all three. The new, improved Alexa …

Bloomberg Facebook Inc upgraded its Portal video chat devices, with a new model for TVs and lower prices. It also said users can opt out of the company accessing voice recordings collected by the hardware. With the new products, called Portal TV, Portal, and Portal Mini, Facebook is trying to break into the crowded smart speaker and connected living room …

Bloomberg Glencore’s agriculture unit has become the latest trading house to join an initiative to modernise the way grain and oilseed transactions are handled. The group, which includes Archer-Daniels-Midland Co, Bunge Ltd, Cargill Inc, Louis Dreyfus Co and Cofco International, is working on a new platform in an effort to make global trading faster and more efficient. The platform, which …