Bloomberg Europe’s ambitious plan to walk away from Russian natural gas and replace a chunk of it with tanker-borne imports faces a major obstacle: getting it to where it’s needed most without huge price discrepancies. Even as record amounts of liquefied natural gas (LNG) land on Europe’s shores, the lack of interconnectors from key import terminals in the west …

Bloomberg Amazon.com Inc is testing a service that uses the company’s sprawling network of gig drivers to fetch packages from mall-based retailers and deliver them to customers. The program, should it become a permanent part of the e-commerce giant’s delivery options, could help Amazon expand the variety of goods it has available for fast shipment. Shoppers who want same-day or …

  Bloomberg President Joe Biden invoked emergency powers under the Defense Production Act to boost production of baby formula and ordered government agencies to use commercial flights for imports to alleviate shortages. The White House said in a statement that the move would allow domestic manufacturers to obtain needed ingredients and speed shipments of foreign supplies. “I know parents all …

  Bloomberg Foot Locker Inc shares climbed after its forecast showed the retailer is overcoming Nike Inc’s move to sell more shoes via its own channels. Foot Locker said that it now expects full-year sales and profit to be at the high end of its prior expectations. Chief Executive Officer Dick Johnson said the company is “off to a strong …

  Bloomberg Rapid delivery companies have curbed their ambitions in the Netherlands after disgruntled Dutch cities put a halt on the explosive growth of their distribution centers. After months of consultations, Flink SE, Getir and Gorillas signed a joint code of conduct that could crimp their ability to make super-fast deliveries in a concession to Dutch municipalities. The companies pledged …

  Bloomberg Air France-KLM is in talks with Apollo Global Management Inc about a 500 million-euro ($528 million) capital injection that would allow the carrier to repay a chunk of the state aid that helped it survive the Covid crisis. The funding would see the US private-equity firm provide capital to an Air France affiliate that owns a pool of …

  Bloomberg A retailer that has come to represent the resilience of New York City is making a comeback. Century 21 will be returning to its flagship location in downtown Manhattan in spring 2023 and is teaming up with retail operator Legends to again showcase a selection of off-price luxury goods. The store will occupy four floors of 22 Cortlandt …

  Bloomberg The wreckage of a $5 trillion rout in emerging markets is starting to look like a buying opportunity to some intrepid investors. The pain points are all too obvious: Stocks have fallen below their average valuations of the past 17 years. Local-currency bond yields have soared through a range that’s held since the 2008 crisis. Spreads on dollar …

Bloomberg Even as the S&P 500 narrowly avoided plunging into a bear market, Morgan Stanley strategists say it’s too early to turn optimistic on stocks. “Equity clients are bearish, a necessary condition for a sustainable low, but an insufficient one,” strategists led by Michael Wilson wrote in a note on Monday. “Given the risks to growth are just emerging, it’s …

Bloomberg India will probably borrow the entire 1 trillion rupees ($12.9 billion) that the government will forgo as revenues due to a cut in gasoline and diesel levies, according to people familiar with the matter. Higher collections from the goods and services tax (GST) as well as personal income taxes will be neutralised by additional spending on food and fertiliser …