Bloomberg Samsung Electronics Co.’s credit risk falls after Moody’s Investors Service lifted its rating to the same level as the South Korean government, citing the company’s profitability and strong finances. The senior unsecured debt rating of Korea’s biggest company was raised to Aa2, the third highest level, from Aa3, Moody’s said. The cost to insure the technology giant’s debt …

  Bloomberg European stocks slumped and the euro falls on Monday as the region’s worsening energy crisis added to risks for a global economy already facing high inflation and a wave of monetary tightening. The Stoxx Europe 600 Index falls 1.1% after Russia’s Gazprom PJSC halted its key gas pipeline indefinitely. Steelmaker Thyssenkrupp AG, car-parts manufacturer Valeo, chemicals firm BASF …

Bloomberg Domestic UK stocks have had a rough year. And with recession looming and the pound plunging, it’s hard to see how things will get better anytime soon for a new prime minister on that front. Britain’s mid-cap index — made up of companies that are heavily dependent on the local economy — is down 20% this year, on course …

  Bloomberg Oil falls this week as prospects for a global economic slowdown weighed heavily on the demand outlook. West Texas Intermediate futures dropped 6.7% for the week amid tightening monetary policy and renewed anti-virus lockdowns in China. Meanwhile, traders shrugged off an announcement by G-7 leaders of plans to cap the price of Russian crude in retaliation for Vladimir …

  Bloomberg Sweden’s government will provide Nordic and Baltic utilities as much as 250 billion kronor ($23.2 billion) in credit guarantees as it seeks to prevent Russia’s energy curbs from setting off a financial crisis. The measure is aimed at helping companies struggling to meet the surging collateral requirements needed to trade electricity, and avoid the threat of some going …

Bloomberg The European Union (EU) needs to act with unanimity to impose a price cap on Russian oil and overcome reluctance by some member countries to support the initiative by the Group of Seven to limit Russian energy revenue, French Finance Minister Bruno Le Maire said. G-7 leaders agreed to put a cap on oil prices, but without support from EU …

Bloomberg Amazon.com Inc, determined to reduce the size of its sprawling delivery operation amid slowing sales growth, has abandoned dozens of existing and planned facilities around the US, according to a closely watched consulting firm. MWPVL International Inc., which tracks Amazon’s real-estate footprint, estimates the company has either shuttered or killed plans to open 42 facilities totalling almost 25 million …

  Bloomberg Bed Bath & Beyond Inc., short on cash and time, is trying to have its Best Buy moment. While many US retailers’ attempts at a turnaround have failed in recent years, Best Buy Cos.’s is one of the few that’s succeeded. The electronics chain overcame relentless online competition and management missteps to regain its stature during the past …

  Bloomberg Selfridges & Co. is pushing further into selling pre-worn clothing, offering rental services and repairing used items as the UK department-store chain seeks ways to reduce the fashion industry’s weighty environmental impact. Since 2020, Selfridges has increased sales of previously owned items by 240%, according to a report in which it sets out new goals. The retailer has …

  Bloomberg Australia’s central bank risks raising interest rates too far too fast in its efforts to contain inflation, opening up the possibility of tipping the economy into recession, senior economists warned. Unlike many international counterparts, Australians feel the impact of rate hikes quickly because about 60% of home loans are at variable rates, said Diana Mousina, a senior economist …