Bloomberg In a double whammy for money managers, emerging-market stocks are underperforming but becoming more expensive. The MSCI Emerging Markets Index has handed investors a loss, including reinvested dividends, of 7.2 percent in the past 12 months, compared with a 2.2 percent total return from the MSCI World Index. Yet bargain-hunting opportunities are rare among $17 trillion of beaten-down stocks ...

Bloomberg Retail billionaire Philip Green finds out whether creditors will force him to give up control of the sprawling empire he built up over years around well-known brands such as Topshop. Creditors to Green’s Arcadia Group were expected to meet in London to vote on its proposals to cut rents and close stores in order to ensure its survival after ...

Bloomberg British Airways (BA) pilots called for a strike ballot after unions rejected the latest pay package from management. Shares of IAG SA, owner of the airline, reversed earlier gains. “We are urgently considering next steps and will make a further statement later this week,” Brian Strutton, general secretary of the British Airline Pilots Association union, or Balpa, said in ...

Bloomberg Boeing Co’s 737 Max aircraft, grounded since March after two fatal crashes in five months, should be back in the air by December, a top US regulator said. It’s not possible to give an exact date as work progresses on safety fixes to the aircraft, Ali Bahrami, the Federal Aviation Administration’s associate administrator for aviation safety, said in an ...

Bloomberg An Indian court sentenced a business class passenger to life in jail after he was found guilty of placing a hijacking note in the washroom of a flight, the first such ruling under a new law. Birju Kishor Salla, 38, was also fined 50 million rupees ($720,000), which will be distributed among pilots, crew and passengers, a special court ...

Bloomberg Amazon.com Inc plans to donate $8 million to two nonprofit groups working on homelessness and affordable housing in Seattle and Arlington County, Virginia. Seattle’s largest employer has long been a target of activists there who contend the company didn’t do its part to help the city moderate a surge in the cost of living amid the tech boom. Last ...

Bloomberg Activist investor Jonathan Litt is threatening a proxy fight next year at Taubman Centers Inc if the US mall owner doesn’t take steps to improve its performance, including exiting Asia or divesting its top-performing properties. Litt said in a letter to shareholders that he planned to nominate directors at the 2020 meeting unless the company makes “meaningful progress.” “Their ...

Bloomberg Alphabet Inc’s Google is moving some production of Nest thermostats and server hardware out of China, avoiding punitive US tariffs and an increasingly hostile government in Beijing, according to people familiar with the matter. Google has already shifted much of its production of US-bound motherboards to Taiwan, averting a 25 percent tariff, said the people, asking not to be ...

Bloomberg As China’s car market cools, American manufacturers are among those getting hurt the most. The market share of US brands fell to 9.6 percent in the first five months of 2019 from 10.9 percent a year earlier, the state-backed China Association of Automobile Manufacturers said. German and Japanese brands, meanwhile, gained share in the world’s largest car market. The ...

Bloomberg Hong Kong stock traders have a lot to contend with right now. A trade war between China and the US, a slumping yuan, spiking interbank rates and now street protests that have spilled across the city’s financial district in a repeat of 2014’s Occupy movement. The last two — rates and protests — have combined to snuff out a ...