Bloomberg Ascena Retail Group Inc, the struggling owner of the Ann Taylor and Lane Bryant clothing chains, is seeking $150 million of new capital from its lenders to fund operations during a bankruptcy reorganisation, according to people with knowledge of the plans. The retailer is closing in on a restructuring plan that would also let creditors install new board members, ...

Bloomberg United Airlines Holdings Inc will cut its average daily cash burn to $25 million in the third quarter from $40 million in the previous three-month period, as the company braces for a choppy recovery from the coronavirus pandemic. More than 6,000 employees have accepted an offer to leave as part of an effort to cut costs, United said in ...

Bloomberg US aviation regulators announced an important milestone in returning Boeing Co’s grounded 737 Max jet to service, an event one person familiar with the process said would happen no earlier than October. The Federal Aviation Administration (FAA) announced it is preparing to issue formal legal directives for repairs required on the jet, which indicates that the agency is comfortable ...

Bloomberg Canadian retail sales have rebounded sharply after historic declines in March and April, with vendors making up almost all of their pandemic losses, Statistics Canada reported. Receipts rose 19% in May, the agency said in its first full release for the month. June looks to have recorded another strong gain, with a flash estimate predicting another 25% increase. That ...

Bloomberg China vowed retaliation after the US forced the closure of its Houston consulate, prompting stocks to fall in one of the biggest blows to diplomatic ties between the two countries in decades. The US government gave China three days to close its consulate in America’s fourth-most populous city in an “unprecedented escalation,” Chinese Foreign Ministry spokesman Wang Wenbin told ...

Bloomberg Prime Minister Boris Johnson urged opponents of Britain’s departure from the European Union to “move on,” saying a Parliamentary report published found no evidence of Russian interference in the 2016 referendum. “What we have here is the rage and fury of the remainder elite finding that there is in fact nothing in this report, no smoking gun whatever,” Johnson ...

Bloomberg France renewed its criticism of China over the treatment of the Uighurs in Xinjiang on Wednesday, calling for human rights observers to be allowed into the region and demanding that internment camps be closed. Foreign Minister Jean-Yves Le Drian said witness accounts indicated human rights abuses that cannot be ignored, such as detention camps, people disappearing, forced labour, the ...

Bloomberg Cracks may be emerging in the so-called ironclad military alliance between South Korea and the US, stoking worries in Seoul that the Trump administration is looking at withdrawing troops from the peninsula. Defense Secretary Mark Esper isn’t ruling out reductions to US Forces in Korea, telling a forum that, while no order has been given, the administration was looking ...

Bloomberg Tokyo Governor Yuriko Koike told residents to avoid unnecessary trips outdoors as much as possible during a forthcoming four-day weekend as the city’s running total topped 10,000 and new cases nationwide were reported to hit a new daily record. Japan’s capital had another 238 cases on Wednesday, as the country heads into a long weekend that was originally scheduled ...

Bloomberg The US accused two Chinese hackers of working for Beijing to steal or try to steal terabytes of data, including coronavirus research, from Western companies in 11 nations — the second time in a week a foreign nation has been singled out for vaccine-related hacking. The Justice Department released an indictment against the individuals, whom it identified as Li ...