Bloomberg Deutsche Bank AG is weighing cuts to its leveraged finance unit as part of a review by Chief Executive Officer Christian Sewing into under-performing businesses as his three-year restructuring concludes. The exercise is scheduled to finish next month and may result in less capital and other resources including staff being allocated to the business of providing loans to …

  Bloomberg US consumers continued to seek out more credit cards this year even as the Federal Reserve aggressively lifted borrowing costs, a shift that cooled demand for mortgages, auto loans and other types of credit, according to research from the New York Fed. The New York Fed’s most recent credit-access survey showed an application rate for credit cards of …

  Bloomberg Equity investors hoping for a better year in 2023 will be disappointed, according to Goldman Sachs Group Inc. strategists, who said the bear market phase is not over yet. “The conditions that are typically consistent with an equity trough have not yet been reached,” strategists including Peter Oppenheimer and Sharon Bell wrote in a note on Monday. They …

Bloomberg Stocks fall amid concern that China may tighten Covid curbs after a string of reported deaths, with investors seeking shelter in the dollar. European equities edged lower, with mining stocks the biggest drag on the regional benchmark index. S&P 500 and Nasdaq 100 futures contracts both dropped by about 0.5%. Walt Disney Co. rallied more than 10% in New …

  Bloomberg India is set to become a $30 trillion economy by 2050 — a nearly 10-fold jump from its current size — driven by rising consumption and social and economic reforms, according to Asia’s richest man Gautam Adani. The nation’s gross domestic product may start expanding by $1 trillion every 12 to 18 months within the next decade, increasing …

  Beijing / WAM China’s natural gas output logged robust growth last month, data from the National Bureau of Statistics showed. According to Xinhua news agency, the country produced 18.5 billion cubic metres of natural gas in October, up 12.3% from a year ago and the growth pace was 7.7 percentage points faster than that in September. In the first …

  Bloomberg At FIFA World Cup in Qatar, 13 of the 32 participating countries will be playing in jerseys provided by Nike Inc., the most by any sportswear sponsor at this year’s tournament. This year, Germany-based Adidas AG will outfit only seven nations. This is only the third time Oregon-based Nike has outperformed Adidas, and the biggest gap Nike has …

  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 …