Bloomberg The two largest mall landlords and Authentic Brands Group LLC are in talks to buy bankrupt department-store chain JC Penney Co, according to people familiar with the matter. Authentic Brands may team up with Simon Property Group and Brookfield Property Partners to acquire the retailer as part of its court reorganisation, said the people, who asked not to be ...

Bloomberg North Korea blew up an inter-Korean liaison office on its side of the border, in an explosive rebuke to Seoul that appeared designed to draw maximum global attention with little immediate risk of war. The move represented North Korea’s most serious provocation in years and follows an escalating series of threats against South Korean President Moon Jae-in’s government. The ...

Bloomberg India says at least 20 of its soldiers have died in a “violent” clash with Chinese troops at a section along their unmarked border high in the Himalayas, in the first fatalities resulting from skirmishes in the region in four decades. There were “casualties on both sides,” Indian army spokesman Col Aman Anand said in New Delhi, adding that ...

Bloomberg President Donald Trump said he plans to cut the number of US troops stationed in Germany to 25,000, until Chancellor Angela Merkel’s government increases defense spending. “Germany’s delinquent. They’ve been delinquent for years,” he told reporters at the White House in the first official confirmation of a move that was reported earlier this month. “They owe NATO billions of ...

Bloomberg Australian foreign minister Marise Payne criticised China for creating “disinformation” during the coronavirus pandemic, saying it “will cost lives.” “It is troubling that some countries are using the pandemic to undermine liberal democracy to promote their own more authoritarian models,” Payne said in a speech in Canberra on Tuesday. She cited a European Union report that said foreign actors ...

Bloomberg Secretary of State Michael Pompeo was expected to travel to Hawaii on Tuesday for meetings with his Chinese counterpart, according to two people familiar with the plans, as tensions between the countries run high over trade, coronavirus, the future of Hong Kong and other issues. Secrecy around the planned encounter between Pompeo and Yang Jiechi, the ruling Communist Party’s ...

Bloomberg The US tumbled further in a ranking of most competitive world economies, dragged down by the weight of President Donald Trump’s trade wars. After losing the top spot to Singapore in 2018, the US dropped further down the list to 10th place from third, according to an annual ranking from the Institute for Management Development (IMD), a business school ...

Bloomberg UK jobless claims more than doubled to almost 3 million during the virus lockdown, adding urgency to the Bank of England and government’s efforts to cushion the blow. The number of people seeking unemployment benefits increased by more than 1.5 million in the two months through May, the Office for National Statistics said on Tuesday. The figures show the ...

Bloomberg Some of Argentina’s largest creditors presented a new debt proposal to the government over the weekend as the two sides edge closer to a $65 billion restructuring deal, according to people familiar with the matter. The Ad Hoc Bondholder Group and Exchange Bondholder Group submitted an offer in which they agreed to accept losses on a net-present value basis ...

Bloomberg Investors see some signs that the recovery in Europe’s largest economy has started to take off. A ZEW gauge of current conditions in Germany advanced in June, and expectations for the next six months continued to improve. The data underscore hopes that the economy will grow again in the second half of 2020. The country’s government has made more ...