Bloomberg Under Armour Inc shares slipped after executives said discounting will continue for a prolonged period as the athletic brand works through excess merchandise. Inventory buildup has weighed down the sports-apparel industry due to unpredictable demand and long freight times. That’s led to heavy promotional activity to get goods off store shelves. Under Armour’s inventory rose 50% to $1.22 billion ...

Bloomberg A.P. Moller-Maersk A/S, a bellwether for global trade, said “muted” economic growth is set to push the world’s container shipping volumes down by as much as 2.5% this year. The shipping market has normalized after two years of exceptionally high freight rates, when supply snarls and and a shortage of vessels allowed Maersk and its peers to charge higher ...

Bloomberg Tesla Inc. will present a third version of Elon Musk’s “master plan” next month, almost a full year after the chief executive officer said he was working on a next edition. The electric-car maker will outline “the path to a fully sustainable energy future for Earth” during its March 1 investor day, Musk tweeted. Tesla has already said its ...

  Bloomberg The UK was the only European country in the Group of Seven nations where real incomes adjusted for inflation fell in the third quarter of last year, according to the OECD. Rampant inflation was to blame for continuing slide in household spending power, the Paris-based organization said, piling pressure on Prime Minister Rishi Sunak’s government and the Bank ...

  Bloomberg Average occupancy levels at many Dublin offices have fallen to 10% or lower on Mondays and Fridays as the majority of employees opt to work from home, according to a survey. Wednesday is the most popular day among workers to be in the office with employers reporting average occupancy rates of 61% to 70%, a survey of 500 ...

  Bloomberg Electric vehicle startups Polestar Automative Holding and Rivian Automotive Inc. are known for doggedly tracking their individual corporate emissions, detailing the environmental toll of everything from the lights in their factories to the rubber in their cars’ tires. On Wednesday, the EV rivals paired up with consulting giant Kearney to raise a flag on the industry more broadly: ...

Bloomberg Philippine President Ferdinand Marcos Jr. and Japanese Prime Minister Fumio Kishida oversaw agreements bolstering military and infrastructure ties between the two US allies amid China’s growing power in the region. During the first visit by Marcos to Tokyo since taking office, the two governments signed seven deals, including one aimed at making easier for Japan’s Self-Defense Forces to take ...

Bloomberg President Joe Biden denied that relations with Beijing have suffered a serious blow after the US downed an alleged Chinese spy balloon that flew across the continental US. Biden said that the US is currently recovering “major pieces” of the aircraft to analyze the equipment. But he maintained that the incident hasn’t further exacerbated tensions with the country. “No. ...

  Bloomberg Indian Prime Minister Narendra Modi continued to deflect opposition pressure over his said links with billionaire Gautam Adani who’s battling allegations of fraud and market manipulation from a US short seller. Modi spoke in the upper house of parliament, his second speech in the legislature in as many days, amid chants of “Modi-Adani are brothers” from the opposition ...

Bloomberg Credit Suisse group AG posted a bigger-than-expected loss for the fourth quarter and unprecedented client outflows, exacerbating the difficulty for Chief Executive Officer Ulrich Koerner in returning to profitability by next year. Shares in the Swiss bank slid 10% on Thursday after it posted a fifth-straight quarterly loss, of 1.39 billion Swiss francs ($1.5 billion). While outflows were concentrated ...