Bloomberg Massmart Holdings Ltd. is selling three more units as the Walmart Inc.-owned South African retailer steps up efforts to turn around the company. Barclays Plc has been appointed to dispose of food-seller Cambridge, cash-and-carry chain Rhino and Massfresh, which is made up of The Fruitspot and a meat-processing facility, Massmart said in a statement. It has not yet had …

Bloomberg Lego booked record sales and profit last year, as consumers of all ages turned to its iconic toy bricks during the pandemic. Net income rise 19% to 9.9 billion kroner, the company, which is based in western Denmark, said on Wednesday. Sales gained 13% to 43.7 billion kroner, the most Lego has ever brought in during a single year. …

Bloomberg US airlines, joined by travel groups and labour, urged the Biden administration to take the lead in developing standards for temporary Covid-19 health credentials that would help reopen global travel by documenting vaccinations and test results. The US “must be a leader” in efforts already underway in other regions to implement such travel passports, groups including Airlines for America …

Bloomberg Gap Inc. is weighing options including a potential sale for its China business, according to people with knowledge of the matter, as the US clothing retailer looks to revamp the operation in the world’s second-largest economy. The company is working with Morgan Stanley to study options and has reached out to prospective suitors to gauge interest for the business, …

Bloomberg A world-beating rally in Chinese stocks has turned into the biggest rout globally, shocking investors with the severity of its reversal and evading state efforts to slow the pace of losses. In just 14 trading days, the nation’s benchmark CSI 300 Index has plummeted 14% from a 13-year high. That compares with a 2.2% drop by the MSCI All-Country …

Bloomberg European stocks edged higher with US futures on Wednesday as cyclical shares outperformed and the rally in the technology sector appeared to lose steam. The Stoxx Europe 600 Index swung between losses and gains as automakers, energy firms and banks led the gauge. The exception was mining stocks, which hit a three-week low amid declining iron ore prices. Just …

Bloomberg Central banks helped save the world economy from depression as the pandemic struck. Now they are dealing with the hard part: managing the recovery amid a difference of opinion with investors. Optimism that Covid-19 vaccines and continued government stimulus offer an escape from the worst health crisis in a century has sent bond yields soaring and pushed bets on …

Bloomberg Barclays Plc is planning job cuts at its corporate and investment bank as part of its cost-saving measures, according to people with knowledge of the matter. The reductions will affect around 60 jobs, including some senior roles in the US and other countries, said one of the people, who asked not to be named discussing private information. A spokeswoman …

Bloomberg China’s central bank will take measures to prevent systemic financial risks from building in the economy as the recovery takes hold, Deputy Governor Chen Yulu said. Laying out priorities for the next five years, Chen said the People’s Bank of China will improve its macro-prudential assessment framework and strengthen supervision of “systemically important” institutions, businesses and infrastructure. “The priority …

Bloomberg Nine Polish banks are coalescing around a proposal for out-of-court settlements with holders of Swiss franc mortgages, according to PKO Bank Polski SA, the nation’s biggest lender. State-controlled PKO has spearheaded efforts to work out a joint solution to around $31 billion in mostly Swiss franc loans, based on a proposal by the country’s financial regulator and backed by …