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 The military coup in Myanmar has gone past the point of no return, according to a confidential UK foreign office assessment, in a sign that major democracies expect to have limited ability to influence the events unfolding inside the country. The bleak view from a senior British diplomat concludes the coup is irreversible, and that army chief Min Aung ...

Bloomberg China has formally arrested an Australian citizen who was formerly a news anchor for Chinese state television, escalating a case that has contributed to tensions between Beijing and Canberra. Cheng Lei, a Chinese-born Australian who most recently worked for state broadcaster CGTN, was formally arrested in China on February 5 following six months of detention, the office of Australian ...

Bloomberg India’s Prime Minister Narendra Modi appealed to protesting farmers to call off their agitation and rejoin talks while reiterating his government’s commitment to continue purchasing crops at an administered price. Tens of thousands of farmers have been camping at Delhi’s borders since November in protest against three agriculture laws that they say will hurt farm incomes and leave them ...

Bloomberg A socialist economist who rejects fiscal austerity demanded by the IMF won the first round of Ecuador’s presidential election, and may face an indigenous anti-mining candidate in a runoff after an unexpectedly close fight for second place. Andres Arauz, the candidate most feared by bond investors, led with 32.2% of votes, with 79% of ballots counted, the electoral authority ...

Bloomberg German Finance Minister Olaf Scholz stepped up his bid to return the Social Democrats to the chancellery after Angela Merkel leaves this fall, presenting a fiscally expansive platform to finance a sweeping shift to cleaner energy and better digital infrastructure. Scholz, the SPD’s candidate for chancellor in Germany’s September 26 election, and his party are betting on a spending ...

Bloomberg The volume of goods going through British ports to the European Union has fallen by as much as 68% since Brexit, according to the Road Haulage Association, as the UK grapples with its new trading relationship with the bloc. The number of customs brokers need to be increased fivefold to help firms with extra checks, Richard Burnett, chief executive ...

Bloomberg By the end of this decade, more than 80% of all vehicles sold by Dr Ing hcF Porsche AG will be electric, CEO Oliver Blume told Bild am Sonntag in an interview. This will include fully electric and hybrid variants, while Porsche will continue to offer its 911 model with internal combustion engines, albeit able to handle synthetic fuels, ...

Bloomberg President Alberto Fernandez of Argentina, one of the world’s powerhouse food suppliers, is threatening farmers with a tax hike or quota for exports as he seeks relief for families grappling with inflation that’s forecast to reach 47% this year. If the farm industry continues to sell food at home for the same prices at which it exports, the government ...