Bloomberg Superdry Plc is seeking to tap investment funds to repay banks on a loan due in January as the cost-of-living crisis hits consumer spending. The London-listed clothing company has been sounding out potential new investors to replace an asset-backed facility worth £70 million ($83 million). The company said it’s in “positive on-going discussions with lenders” when contacted by …

  Bloomberg Burberry Group Plc’s new leadership plans a return to “Britishness” after a revamp by an Italian executive duo failed to keep the UK brand abreast of its luxury rivals. The new team of Chief Executive Officer Jonathan Akeroyd and creative chief Daniel Lee want to increase accessories to more than 50% of sales in the long term, banking …

Bloomberg The partnership between American Airlines Group Inc. and JetBlue Airways Corp. has “absolutely no justification,” US Justice Department lawyers told a federal judge in closing arguments for the agency’s antitrust suit against the airlines. The government is seeking to dissolve the Northeast Alliance, a partnership formed between American and JetBlue in 2020 to share routes, bookings and passengers in …

  Bloomberg Blue Origin, the space launch vehicle startup founded by Amazon.com chair Jeff Bezos, expects next month to complete a review of a recent accident but won’t send another rocket aloft until sometime in 2023. The company’s vice president of its New Shepard rocket’s mission and fight operations, Audrey Powers, told attendees at a conference in Washington, DC, that …

  Bloomberg JD.com Inc. reported higher sales last quarter after shoppers kept spending at China’s second-largest online retailer despite an economic downturn. Sales rose 11% from a year earlier to $34.2 billion in the quarter ending in September, the company said in a statement. That compared to the average forecast of 243.1 billion yuan from analysts surveyed by Bloomberg. The …

  Bloomberg JPMorgan Chase & Co. made sweeping improvements to time off for bereavement, sick days, and caring for ill family members — including for the first time giving 16 weeks of leave to either parent for the birth or adoption of a child, regardless of which is the primary caregiver. The changes put the bank more in line with …

  Bloomberg The People’s Bank of China (PBOC) warned inflation may accelerate as overall demand in the economy picks up, suggesting the scope for further monetary policy easing may be limited. The central bank “will pay serious attention to the underlying possibility of rising inflation, especially changes in the demand side,” it said in its quarterly monetary policy report. At …

  Bloomberg Monetary authorities in Indonesia and the Philippines delivered large interest-rate increases to curb inflation and support their currencies, while signalling their approaches to policy tightening may differ from here on. Bangko Sentral ng Pilipinas raised the key rate by a previously announced 75 basis points to 5%. Shortly after, Bank Indonesia lifted its benchmark rate by half-point to …

Bloomberg The International Monetary Fund (IMF) has urged the Central Bank of Nigeria to reduce its interventions on the foreign-exchange market and allow banks to set the naira’s conversion rate. This will stop speculation around possible devaluation fuelled by dollar shortages, rising inflation, limited debt servicing capacity and restrictions on dollar transactions, the IMF said after a mission. “These factors …

Bloomberg Apple Inc is preparing to begin sourcing chips for its devices from a plant under construction in Arizona, marking a major step towards reducing the company’s reliance on Asian production. Chief Executive Officer Tim Cook made the disclosure during an internal meeting in Germany with local engineering and retail employees as part of a recent tour of Europe, according …