Bloomberg Woolworths Holdings Ltd. agreed to sell Australia’s oldest department store chain David Jones to Anchorage Capital Partners, ending an expensive misstep for the South African retailer. The deal will remove about 17 billion rand ($965 million) of liabilities related to the David Jones store portfolio, Woolworths said in a statement. Management expects to get more than the carrying …

  Bloomberg Peru’s government is reopening some airports ahead of another attempt by congress to approve early elections to calm protesters and alleviate the country’s political crisis. The airport in Juliaca, in southern Peru, will resume operations while the airport in the south-central city of Ayacucho could resume operations on Tuesday, Transport Minister Paola Lazarte said in a tweet from …

  Bloomberg German labour union Verdi called on Amazon.com Inc warehouse workers to go on strike across the country during the holiday season, seeking to press the company for higher pay and to join collective bargaining agreements. The timing and location of individual walkouts won’t be announced in advance, the union said in a statement. Amazon didn’t immediately respond to …

  Bloomberg Electricite de France SA (EDF) extended maintenance halts at two nuclear reactors by four months and warned it may have to carry out lengthy repairs at seven others next year, further straining European power supplies. The world’s largest nuclear fleet has suffered prolonged shutdowns this year that have left Europe even more reliant on natural gas at a time …

  Bloomberg India’s largest private bank HDFC Bank Ltd is seeking to issue a million credit cards a month, a remarkable bounce-back for the lender after the country’s regulator banned it from taking on new card clients two years ago. The bank wants to double the current pace of half a million new credit card issuances every month, according to …

Bloomberg Limits on banker bonuses led to pay rising for top British financiers, according to a study by the Bank of England (BOE) released as part of the UK’s plans to abolish the rules. The restrictions, designed to curb risky behaviour following the 2008 financial crisis, have meant fixed salaries increased to offset the curbs — particularly the delay in …

Bloomberg European Central Bank (ECB) Vice President Luis de Guindos said increases in borrowing costs will continue at a pace similar to the latest half-point move as officials try to tame soaring prices. The ECB will raise interest rates until projections show that unprecedented euro-area price gains are headed back to the 2% target, Guindos told an event in Madrid. …

  Bloomberg US equities are set for their worst year since the global financial crisis, and, according to Morgan Stanley strategist Michael Wilson, corporate profits are about to meet the same fate. A looming earnings recession “by itself could be similar to what transpired in 2008/2009,” said Wilson. That could spark a new stock-market low that’s “much worse than what …

  Bloomberg Global stocks attempted to recover after two weeks of losses sparked by the concern that continued policy tightening by the US Fed and other central banks would trigger economic recession and hit companies’ profits. While the S&P 500 and the tech-heavy Nasdaq 100 are on track to end the month lower, futures on both ticked higher. In Europe, …

Bloomberg Australia’s sovereign wealth fund is positioning for inflationary pressures to persist around the world, betting that gold and other commodities will offset crimped returns across asset classes. Future Fund Chief Executive Officer Raphael Arndt said “a few percent” of the firm’s A$193 billion ($130 billion) of assets is now invested in gold, after making its first foray into the …