Bloomberg The parent of New York & Co is preparing for a bankruptcy filing that would include plans to shut all of the discount apparel chain’s stores, according to people with knowledge of the matter. RTW Retailwinds Inc, which also owns Fashion to Figure and Happy x Nature, warned earlier this month that a bankruptcy filing was probable, citing a ...

Bloomberg A group of banks led by Goldman Sachs Group Inc may launch a $5 billion debt offering for United Airlines Holdings Inc as soon as Monday, according to people with knowledge of the matter. Goldman Sachs has started discussions with investors to gauge their level of interest, said the people, who asked not to be named because the talks ...

Bloomberg China confirmed that a proposed national security law would allow Beijing to override Hong Kong’s independent legal system, shedding new light on a move that has stoked tensions with the US and threatens the city’s status as a top financial centre. The proposal said the central government will have jurisdiction over an “extremely small” number of national security cases ...

Bloomberg Europe’s longest-serving president said his security forces thwarted a “foreign” plan to foment revolution as protests spread across the country following the arrests of potential challengers to his rule. “We managed to make some pre-emptive steps and disrupt the large-scale plan to destabilise Belarus,” Alexander Lukashenko, who has ruled the post-Soviet nation since 1994, said during a meeting with ...

Bloomberg India’s Prime Minister Narendra Modi has walked into a diplomatic minefield over his nation’s disputed border with China. The hashtag #ModiSurrendersToChina was trending on Twitter on Saturday after Modi stated no one had entered Indian territory or captured any military posts in the deadly clashes that resulted in the death of 20 Indian soldiers and the capture by the ...

Bloomberg Democratic nominee Joe Biden commemorated Juneteenth by reiterating his commitment to fighting racial inequities, seeking to strike a contrast with President Donald Trump, who has struggled to address issues of race and justice amid continuing nationwide protests against police brutality. Biden joined top Democrats by video at JusticeCon, a social justice forum organised by Faith For Black Lives in ...

Bloomberg China’s top legislative body voted to join a global treaty on arms sales in a move that supports Beijing’s efforts to contrast itself with US President Donald Trump’s “America First” policies. The Standing Committee of the National People’s Congress decided to join the Arms Trade Treaty during a meeting that ended on Saturday, the official Xinhua News Agency said. ...

Bloomberg The biggest Nordic banks have voiced concerns over how Denmark’s debt office is handling sales of its shortest-dated securities. The debt office in Copenhagen, which is part of the central bank, recently added commercial paper to the list of securities it sells. But bankers at Danske and Nordea, among others, say the office has left them in the dark ...

Bloomberg The Bank of Russia cut interest rates by the most in five years and signaled another reduction is likely to help stimulate an economy heading toward a deep recession. The benchmark interest rate was cut 100 basis points to 4.5%, the lowest level since inflation-targeting began in late 2014, the central bank said in a statement. Policy makers warned ...

Bloomberg Zimbabwe’s central bank plans to stop providing the foreign currency needed for fuel imports, handing the responsibility to private companies, reports said. The plan, which will end an effective subsidy, will take place as early as June 23 when a currency peg is removed and an auction system for foreign exchange is set to begin, the people said, asking ...