Bloomberg Best Buy Co. jumped the most in more than two years after modestly improving its profit forecast and signalling its recent sales slump is starting to ease. Adjusted operating income this year will be “slightly higher” than the previous forecast of 4% of sales, the consumer-electronics retailer said as it reported third-quarter results. In addition, the decline in ...

Bloomberg Emergency slides on Airbus SE A380 superjumbos are in danger of bursting when deployed after suffering degradation while jets were idled during the coronavirus crisis, Europe’s aviation regulator warned. Operators of the double-decker must replace escape chutes on two over-wing and six upper-deck exits when returning their aircraft to service, the European Union Aviation Safety Agency (EASA) said in ...

  Bloomberg Jollibee Foods Corp. targets to open at least 100 stores in China next year, said its CEO, who sees lockdowns as a “temporary setback” to the Philippine fast-food chain’s target of getting half of sales from abroad. With food delivery expected to drive growth, the Philippine company that’s known for dishes like fried chicken and sweet spaghetti targets ...

  Bloomberg The world’s largest maker of bulk chocolate is boosting production capacity in the Americas to meet rising demand from the ice cream industry. Barry Callebaut AG, whose clients include Nestle SA and Mars Inc., plans to increase factory capacity in the region by 15% in the next 18 to 20 months, said Steve Woolley, the company’s president for ...

  Bloomberg The US is stocking up on Brazilian orange juice after Hurricane Ian and disease devastated citrus groves in Florida, the top producing state for the popular breakfast beverage. Shipments to the US from the world’s top exporter are up 58% in the first four months of the season from a year ago, hitting a record 112,500 metric tons ...

Bloomberg Hundreds of workers at Apple Inc.’s main iPhone-making plant in China clashed with security personnel, as tensions boiled over after almost a month under tough restrictions intended to quash a Covid outbreak. Workers at the Foxconn Technology Group plant streamed out of dormitories in the early hours of Wednesday, jostling and pushing past the white-clad guards they vastly outnumbered, ...

  Bloomberg Adani Enterprises Ltd., the flagship firm of Asia’s richest person, is considering issuing at least $1.8 billion in new shares, according to people familiar with the matter. Billionaire Gautam Adani’s conglomerate is working with advisers on the follow-on issue and could sell the shares as soon as next year, the people said, asking not to be identified as ...

  Bloomberg Singapore’s core inflation gauge eased for the first time in eight months in October, giving policymakers reason to refrain from tightening monetary policy amid mounting risks to economic growth. Core inflation, which excludes private transport and accommodation and is closely watched by the central bank, rose 5.1% from a year ago, according to Singapore’s Ministry of Trade and ...

  Bloomberg Chinese authorities are planning to impose a fine of more than $1 billion on Jack Ma’s Ant Group Co., paving the way for the ending of a regulatory overhaul of the financial technology firm, Reuters reported, citing people familiar with the matter. The central bank is preparing the penalty, which could land in the second quarter of next ...

  Bloomberg India is looking for takers for $2.4 billion in government aid it’s offering to stimulate domestic manufacturing of solar power equipment. The state-run Solar Energy Corp. of India is seeking bids from solar manufacturers for 195 billion rupees of financial incentives, according to documents published on the agency’s website. The government is seeking to grow the country’s module-making ...