Bloomberg Lulus, the online retailer that focuses on female apparel, is planning an initial public offering this year, according to people with knowledge of the matter. The Chico, California-based company is working with Goldman Sachs Group Inc and Bank of America Corp on the planned listing, said the people who asked not to be identified discussing private information. The company ...

Bloomberg A heat wave across some of China’s biggest industrial provinces has pushed local electricity consumption to unprecedented levels, sending thermal coal futures toward record highs. The power load in the eastern province of Zhejiang near Shanghai surpassed 100 million kilowatts per hour for the first time, the State Grid said in its newspaper. Usage has also hit records in ...

Bloomberg Pembina Pipeline Corp said it wasn’t going to sweeten its bid for Inter Pipeline Ltd one day after a new hostile offer for Canada’s fourth-largest midstream company was made by Brookfield Infrastructure Partners LP as the takeover battle intensifies. The Canadian pipeline company doesn’t intend to increase or change the 0.5 common Pembina shares offered under its proposed acquisition ...

Bloomberg Royal Dutch Shell Plc and Iberdrola SA’s ScottishPower unit are teaming up to bid to build what could be the world’s largest wind farms that float in the sea. The companies submitted proposals for multiple floating projects off the coast of Britain as part of Scotland’s process to lease its seabed to renewable energy developers, according to a statement. ...

Bloomberg The European Central Bank (ECB) is about to take the next step in reinventing the region’s money as it marches towards the creation of a digital euro. Policy makers will decide whether to move to an exploratory phase, which President Christine Lagarde reckons could take about two years. Ultimately, euro-zone citizens could be holding a virtual central-bank currency by ...

Bloomberg New Zealand’s central bank (RBNZ) said it will reduce monetary stimulus by ceasing quantitative easing, a surprise move that sent the currency higher as traders priced in an interest-rate increase as early as August. The Reserve Bank’s Monetary Policy Committee, led by Governor Adrian Orr, on Wednesday held the official cash rate at 0.25%, but said it will halt ...

Bloomberg Bank of America Corp (BofA) is struggling to build back its lending income as consumers, flush with cash from government stimulus programs, avoid taking on new borrowings. Loans and leases in the consumer banking unit fall 12% from a year earlier. Net interest income, on a fully taxable equivalent basis, was $10.3 billion last quarter, the bank said. That ...

Bloomberg Apple Inc is working on a new service that will let consumers pay for any Apple Pay purchase in installments over time, rivaling the “buy now, pay later” offerings popularized by services from Affirm Holdings Inc and PayPal Holdings Inc. The upcoming service, known internally as Apple Pay Later, will use Goldman Sachs Group Inc as the lender for ...

Bloomberg Apple Inc has asked suppliers to build as many as 90 million next-generation iPhones this year, a sharp increase from its 2020 iPhone shipments. The Cupertino, California-based tech giant has maintained a consistent level in recent years of roughly 75 million units for initial run from a device’s launch through the end of year. The upgraded forecast for 2021 ...

Bloomberg Volkswagen ratcheted up its mid-decade profitability goal as it hones plans to become the electric-car leader and cash in on what it expects to be a massive new revenue stream from software. Europe’s largest automaker will target an 8% to 9% operating return on sales in 2025, up from 7% to 8% previously. After wooing investors with a Tesla ...