Bloomberg Lululemon Athletica Inc. has named Calvin McDonald to lead the surging yogawear brand as it looks to rehabilitate its culture and expand its international presence. McDonald, a 46-year-old native of Canada who most recently served as a top executive at makeup chain Sephora, steps into the CEO role vacated by Laurent Potdevin, Lululemon said in a statement. Potdevin departed ...

Bloomberg Ivanka Trump, the president’s daughter, is pulling the plug on Ivanka Trump, the purveyor of womens’ fashion. After a year and a half of sporadic controversy over potential conflicts of interest, Trump, a White House adviser, said that she would wind down the company. She made the decision after some big-name department stores dropped her brand, but said in ...

Bloomberg Fosun International Ltd., the Chinese group backed by billionaire Guo Guangchang, is considering an offer for all or parts of Belgian insurer Ageas in what could be its boldest move to expand its international footprint, people familiar with the matter said. Shanghai-based Fosun is talking to advisers about alternatives including teaming up with a partner to split the Brussels-based ...

Bloomberg Facebook Inc.’s apps and websites are still blocked in China, but that’s not stopping the social media giant from trying to open a center in the country to support local startups. Facebook set up a Chinese subsidiary, Facebook Technology (Hang Zhou) Ltd., earlier this month, according to a filing with the National Enterprise Credit Information Publicity System. The subsidiary, ...

Bloomberg SoftBank Group Corp. plans to announce within days that it will start a mobile digital payments service in Japan by the end of 2018 as billionaire founder Masayoshi Son seeks to expand in the sector, people familiar with the matter said. The service, a collaboration with Indian startup Paytm, will make extensive use of artificial intelligence for mobile payments ...

Bloomberg As investors sell Chinese health-care stocks in the wake of a vaccine scandal, one top-performing fund manager sees a chance to buy more. The broad selloff in the sector will likely be temporary as investors overreacted and “wrongly implicated” many stocks, said Wang Chaowei, who manages 866 million yuan ($127 million) for CPIC Fund Management Co. One of his ...

Bloomberg China pledged to invest $14.7 billion in South Africa and grant loans to its state power utility and logistics company as the two nations seek to strengthen economic ties and increase trade. The rand gained. The commitment follows similar promises from Saudi Arabia and the UAE and bolsters President Cyril Ramaphosa’s campaign to lure $100 billion in investment to ...

Bloomberg President Donald Trump said that the US and the European Union (EU) should eliminate all tariffs, barriers and subsidies, with the bloc’s trade chiefs set to present him with proposals in that direction in a crunch meeting at the White House. “I have an idea for them. Both the US and the EU drop all Tariffs, Barriers and Subsidies!” ...

Bloomberg High-level talks for a new North American Free Trade Agreement (Nafta) are picking up again this week following two months of limited negotiations that were instead marred by tit-for-tat tariff battles and diplomatic fallout. Canadian Foreign Affairs Minister Chrystia Freeland will discuss the North American Free Trade Agreement on Wednesday when she meets in Mexico City with officials from ...

Bloomberg Venezuela’s inflation will skyrocket to 1 million percent by the end of the year as the government continues to print money to cover a growing budget hole, the International Monetary Fund predicted. The crisis is comparable to that of Germany in 1923 or Zimbabwe in the late 2000s, said Alejandro Werner, head of the IMF’s Western Hemisphere department. He ...