Bloomberg Big retailers rushed to build up inventories last year amid soaring consumer demand and transportation bottlenecks — going so far in some cases as to rent their own cargo ships. Now, they’re trying to figure out how to sell all their stuff. Inventories rose $44.8 billion for companies on S&P consumer indexes with a market value of at least ...

  Bloomberg Ted Baker Plc gained on a report that Authentic Brands Group Inc is in talks with the UK fashion chain over a takeover bid worth about 300 million pounds ($379 million). Authentic Brands has indicated it’s willing to pay more than 150 pence per share for Ted Baker, Sky News reported, citing a person familiar with the situation. ...

  Bloomberg Norwegian Air Shuttle ASA reached an agreement in principle with Boeing Co for the purchase of 50 737 Max jets, to be delivered when the carrier’s existing leases end. The airline will take delivery of the planes between 2025 and 2028, according to a stock exchange filing. Norwegian expects to finalise the order, which also includes options for ...

  Bloomberg As border curbs and mandatory quarantines fall away, a fresh challenge is emerging for global aviation — rehiring staff fast enough to cope with a rebound in air travel that is already straining the industry. Singapore, which has flung open its borders again, is hosting a two-day job fair targeting everyone from graduates to mid-career professionals and former ...

Bloomberg Chinese President Xi Jinping praised Hong Kong’s next leader for defending national security and upholding stability at their first meeting since John Lee was selected as chief executive earlier this month. The leader of the world’s second largest economy told Lee that the central government had “full confidence” in him, according to the official Xinhua News Agency. Xi also ...

  Bloomberg Hurricane Agatha was expected to strike Mexico’s Oaxaca state on Monday with damaging winds, heavy rain and a crashing storm surge, making it the strongest May storm to hit the eastern Pacific on record. Agatha was already raking the Pacific coastline with damaging gusts and heavy rain. The compact storm, just below Category 3 strength on the five-step ...

Bloomberg A construction magnate who was little known at the start of the year surged into presidential runoff with a real chance at winning as voters coalesce against his leftist rival. Rodolfo Hernandez took 28% of the vote to 40% for Gustavo Petro, a former mayor of Bogota and onetime guerrilla, the electoral authority said. Hernandez beat out Federico Gutierrez, ...

  Bloomberg The United Nations’ human rights chief should resign for failing to condemn China after visiting its remote Xinjiang region where the US accuses Beijing of genocide, according to one prominent scholar. Adrian Zenz, senior fellow in China studies at the Victims of Communism Memorial Foundation, told Bloomberg TV that he considered Michelle Bachelet’s trip to China’s far western ...

Bloomberg Northern Ireland’s devolved government remains effectively suspended after a move to elect speakers to the Assembly failed amid a stand-off over Brexit. “The Assembly has been unable to conduct its first business therefore we can proceed no further,” Acting Speaker Alex Maskey said. Until a speaker is elected, there can be no nominations to the region’s joint top ministerial ...

  Bloomberg Australian PM Anthony Albanese’s Labor Party clinched a parliamentary majority after day of ballots getting counted in tightly contested seats, giving his government the heft to push through bills on issues ranging from climate change to anti-corruption measures. Labor is projected to secure the seat of Macnamara in the heart of Melbourne, Australia’s ABC said, giving the party ...