Bloomberg Shoprite Holdings Ltd’s second-half sales climbed as it gained market share, even as the main lower-income customers of Africa’s largest food retailer battle with the impact of an economic slowdown. Sales in its core South African business rose 9.4% in the last three months of the fiscal year through June, the Cape Town-based supermarket operator said. Still, the grocer ...

Bloomberg Under Armour Inc managed to reach more customers than expected last quarter, even with most of its stores closed — but the road ahead is looking bumpy. The athletic-goods maker’s second-half revenue is likely to fall 20% to 25%, with its recently improved gross margin coming under new pressure, executives warned on a call with analysts. The volatile stock ...

Bloomberg A South Korean court is set to start liquidating assets of a Japanese company to compensate Koreans conscripted to work during colonial occupation, straining ties between two key US partners just as the Trump administration needs their help in countering China. A district court in the eastern city of Pohang will start a process on Tuesday to seize shares ...

Bloomberg Poland’s Supreme Court ruled that the July 12 presidential election won by incumbent Andrzej Duda was valid and that minor irregularities didn’t affect the outcome. The ruling paves the way for Duda to start a new five-year term and defeats a legal challenge from the campaign of opposition-backed Warsaw mayor Rafal Trzaskowski, who lost to the president in the ...

Bloomberg Guyana’s electoral authorities declared opposition candidate Irfaan Ali president, ending a five-month constitutional crisis that threatened to turn the South American nation into an international pariah. The decision eases fears that the country might erupt in violence, or cease to be a democracy, as rival factions fought for control of its fast-growing economy and its massive offshore oil riches. ...

Bloomberg The White House is exploring whether President Donald Trump can act on his own to extend enhanced unemployment benefits and eviction protection if lawmakers fail to act, people familiar with the matter said. The White House is concerned about the economic impact of the $600 a week supplemental benefits, the people said, as Democrats and Republicans have been unable ...

Bloomberg Portugal is in talks with the British government to try to lift a rule that requires anyone arriving in England from the southern European country to self-isolate for two weeks. Rita Marques, Portugal’s secretary of state for tourism, said in a Bloomberg Television interview on Monday that she wasn’t sure when the UK would revise its quarantine rule even ...

Bloomberg President Donald Trump was expected to sign an executive order that would bar federal agencies from dismissing US citizens or green card holders and replacing them with foreign workers. The order will increase scrutiny of federal contractors’ use of H-1B visas to bring in temporary foreign labor for high-skilled jobs rather than relying on American workers, according to an ...

Bloomberg HSBC Holdings Plc is speeding up the shakeup of its global business after warning that the economic fallout from the coronavirus pandemic may trigger loan losses of as much as $13 billion this year. The Asia-focused lender missed estimates after reporting first-half profit that halved to $5.6 billion because of higher credit provisions. The bank said it is looking ...

Bloomberg Bank of England (BOE) policy makers are set to keep delivering ultra-loose monetary policy even as they disagree over the pace of economic recovery from coronavirus-triggered recession. While officials led by Governor Andrew Bailey have different takes on how the economy is emerging from the pandemic shock, the next policy decision on Thursday is expected to leave interest rates ...