Bloomberg Shein, the Chinese fast fashion giant that’s quickly become the third-most valuable startup in the world, is seeing a reality check with sales growth slowing from the lofty heights of the pandemic, just as it faces mounting pressure to live up to a $100 billion valuation. The online-only retailer of inexpensive clothes, beauty and lifestyle products has become ...

  Bloomberg India’s central bank will raise its inflation forecast in the June monetary policy meeting amid elevated commodity prices, possibly setting the stage for more interest rate increases by August, a person familiar with the matter said. There is also a growing chance that inflation will breach the upper end of the Reserve Bank of India’s (RBI) targeted 2%-6% ...

  Bloomberg Credit Suisse Group AG will name two veterans to lead its Asia-Pacific financing group in a bid to shore up one of its most profitable businesses in the region after a series global scandals triggered billions of dollars in losses and departures of senior executives at the Swiss bank. The Zurich-based lender will name Tim Tu, who just ...

  Bloomberg Nomura Holdings Inc. has hired four traders from Citigroup Inc., and six others from elsewhere, as it rebuilds its macro desks globally with a focus on foreign exchange. Dipak Shah, Sidi Mohamed Saaf, Matthew Rupsis and Christopher Torrington have recently joined Nomura from Citigroup in a variety of roles to help the Japanese lender boost its forward and ...

  Bloomberg Sri Lanka’s central bank chief imposed more capital controls and threatened to resign if politicians fail to return stability to the nation, which is in the grip of its worst economic crisis since independence. “I took on this responsibility with expectations that political stability will be established,” Governor Nandalal Weerasinghe said in Colombo. Weerasinghe’s briefing comes amid an ...

  Bloomberg Nu Holdings Ltd, a Brazilian digital bank backed by Warren Buffett’s Berkshire Hathaway Inc, partnered with blockchain startup Paxos Trust Co to allow its customers to trade cryptocurrencies. Nubank’s more than 50 million customers will initially be able to trade Bitcoin and Ethereum, according to Paxos Chief Executive Michael Coscetta. Paxos has seen demand increase for digital assets ...

Bloomberg Standard Bank Group Ltd has named a female Black person to chair Africa’s biggest lender by assets for the first time. Nonkululeko Nyembezi has been appointed as chairman-designate effective June 1, according to a statement. She replaces Thulani Gcabashe, who will retire after the annual general meeting on May 31. “It is hugely significant to us that the Standard ...

  Bloomberg US futures and stocks rise on Friday after Federal Reserve Chair Jerome Powell pushed back against speculation of steeper interest-rate hikes. Risk sentiment was boosted by a rebound in cryptocurrencies. Contracts on the S&P 500 gained 1% and those on the Nasdaq 100 climbed 1.6%. Twitter Inc shares plunged as much as 26% in New York premarket trading ...

  Bloomberg Indonesia’s stock benchmark avoided a correction after an intraday tumble of more than 10% from its high in April, dragged by technology shares. The Jakarta Composite Index of shares closed little changed on Friday, capping this week’s losses at 8.7%. That’s the worst week since March 2020, when the country shut its international borders to curb the pandemic. ...

  Bloomberg European natural gas prices jumped following disruptions to a key transit route through Ukraine, and as Germany said Russia was using energy as a weapon in an escalating clash over supply. The benchmark contract surged more than 22%, with shipments from Russia via Ukraine set to fall by about 30% following interruptions at a cross-border entry point as ...